Quarterly Financial Information (Unaudited)

12 Months Ended

Jan. 30, 2021

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

8. Quarterly Financial Information (Unaudited)

	2020
(Dollars and Shares in Millions, Except per Share Data)	First				Second				Third				Fourth
Total revenue		$	2,428			$	3,407			$	3,979			$	6,141
Cost of merchandise sold		$	1,787			$	2,149			$	2,424			$	4,000
Selling, general, and administrative expenses		$	1,066			$	1,050			$	1,302			$	1,603
Impairments, store closing, and other costs		$	66			$	(2	)		$	21			$	4
(Gain) on sale of real estate		$	—			$	(127	)		$	—			$	—
Net (loss) income		$	(541	)		$	47			$	(12	)		$	343
Basic shares			154				154				154				154
Basic net (loss) income per share		$	(3.52	)		$	0.31			$	(0.08	)		$	2.23
Diluted shares			154				155				154				156
Diluted net (loss) income per share		$	(3.52	)		$	0.30			$	(0.08	)		$	2.20

	2019
(Dollars and Shares in Millions, Except per Share Data)	First			Second			Third				Fourth
Total revenue		$	4,087		$	4,430		$	4,625			$	6,832
Cost of merchandise sold		$	2,415		$	2,550		$	2,775			$	4,400
Selling, general, and administrative expenses		$	1,275		$	1,269		$	1,419			$	1,742
(Gain) loss on extinguishment of debt			—			—		$	(9	)			—
Impairments, store closing, and other costs		$	49		$	7			—			$	57
Net income		$	62		$	241		$	123			$	265
Basic shares			161			159			156				154
Basic net income per share		$	0.38		$	1.52		$	0.79			$	1.72
Diluted shares			162			159			157				154
Diluted net income per share		$	0.38		$	1.51		$	0.78			$	1.72

Due to changes in stock prices during the year and timing of share repurchases and issuances, the sum of quarterly net (loss) income per share may not equal the annual net (loss) income per share.