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Quarterly Summary | 12 Months Ended
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Aug. 29, 2020
Quarterly Summary |
Quarterly Summary | ​ ​ Note T – Quarterly Summary (1) (Unaudited)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Sixteen
​ | ​ | Twelve Weeks Ended | ​ | Weeks Ended
​ |  | November 23, |  | February 15, |  | May 9, |  | August 29,
(in thousands, except per share data) | ​ | 2019 | ​ | 2020 | ​ | 2020 | ​ | 2020(2)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 2,793,038 | ​ | $ | 2,513,663 | ​ | $ | 2,779,299 | ​ | $ | 4,545,968
Gross profit | ​ |  | 1,501,068 | ​ |  | 1,366,063 | ​ |  | 1,490,648 | ​ | ​ | 2,412,975
Operating profit | ​ |  | 500,023 | ​ |  | 407,938 | ​ |  | 491,673 | ​ |  | 1,018,045
Income before income taxes | ​ |  | 456,280 | ​ |  | 363,603 | ​ |  | 444,223 | ​ |  | 952,407
Net income | ​ |  | 350,338 | ​ |  | 299,282 | ​ |  | 342,896 | ​ | ​ | 740,457
Basic earnings per share | ​ |  | 14.67 | ​ |  | 12.70 | ​ |  | 14.66 | ​ |  | 31.67
Diluted earnings per share | ​ |  | 14.30 | ​ |  | 12.39 | ​ |  | 14.39 | ​ |  | 30.93
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Seventeen
​ |  | Twelve Weeks Ended | ​ | Weeks Ended
​ | ​ | November 17, |  | February 9, |  | May 4, |  | August 31,
(in thousands, except per share data) | ​ | 2018 | ​ | 2019 | ​ | 2019 | ​ | 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(3) |  | ​ | 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
​
(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 full year is based on the annual weighted average shares outstanding.
(2) | The fourth quarter for fiscal 2020 is based on a 16-week period while fiscal 2019 is based on a 17-week period. All other quarters presented are based on a 12-week period.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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