Quarterly Summary

12 Months Ended

Aug. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Summary

Note T – Quarterly Summary (1)

(Unaudited)

	Twelve Weeks Ended						Seventeen Weeks Ended
(in thousands, except per share data)	November 17, 2018		February 9, 2019		May 4, 2019		August 31, 2019(2)
Net sales	$	2,641,733	$	2,450,568	$	2,783,006	$	3,988,435
Gross profit		1,417,474		1,325,107		1,492,020		2,130,400
Operating profit		487,818		400,020		547,523		780,775
Income before income taxes		448,812		358,658		504,284		719,578
Net income(5)		351,406		294,638		405,949		565,228
Basic earnings per share		13.71		11.71		16.35		23.15
Diluted earnings per share		13.47		11.49		15.99		22.59
	Twelve Weeks Ended						Sixteen Weeks Ended
(in thousands, except per share data)	November 18, 2017		February 10, 2018(3)(5)		May 5, 2018(5)		August 25, 2018(2)(4)(5)
Net sales	$	2,589,131	$	2,413,026	$	2,660,152	$	3,558,769
Gross profit		1,365,848		1,277,046		1,422,974		1,907,879
Operating profit		468,754		205,098		545,765		591,239
Income before income taxes		429,865		165,758		503,807		536,899
Net income		281,003		289,530		366,721		400,282
Basic earnings per share		10.17		10.58		13.62		15.27
Diluted earnings per share		10.00		10.38		13.42		15.02

(1) The sum of quarterly amounts may not equal the annual amounts reported due to rounding. In addition, the earnings per share amounts are computed independently for each quarter while the full year is based on the annual weighted average shares outstanding.

(2) The fourth quarter for fiscal 2019 is based on a 17-week period while fiscal 2018 is based on a 16-week period. All other quarters presented are based on a 12-week period.

(3) The second quarter of fiscal 2018 includes impairment charges of $193.2 million. See “Note M – Sale of Assets.”

(4) The fourth quarter of fiscal 2018 includes pension termination charges of $130.3 million. See “Note L - Pension and Savings Plans.”

(5) Net income of the second, third and fourth quarter of fiscal 2018 and all of fiscal 2019 benefitted from changes due to Tax Reform. See “Note D – Income Taxes.”