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Quarterly Financial Information (Tables) | 12 Months Ended
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Feb. 01, 2020
Quarterly Financial Data [Abstract] |
Schedule Of Quarterly Data [Table] | Selected quarterly and annual operating results are as follows:
|  | 13 Weeks Ended (2) |  | 13 Weeks Ended (3) |  | 13 Weeks Ended (4) |  | 13 Weeks Ended (5) |  | 52 Weeks Ended (6)
($ in millions except per share amounts) |  | May 4, 2019 |  | August 3, 2019 |  | November 2, 2019 |  | February 1, 2020 |  | February 1, 2020 (fiscal 2019)
Net sales |  | $ | 3,706 |  |  | $ | 4,005 |  |  | $ | 3,998 |  |  | $ | 4,674 |  |  | $ | 16,383 |
Gross profit |  | $ | 1,344 |  |  | $ | 1,556 |  |  | $ | 1,559 |  |  | $ | 1,674 |  |  | $ | 6,133 |
Net income (loss) |  | $ | 227 |  |  | $ | 168 |  |  | $ | 140 |  |  | $ | (184 | ) |  | $ | 351 |
Earnings (loss) per share—basic (1) |  | $ | 0.60 |  |  | $ | 0.44 |  |  | $ | 0.37 |  |  | $ | (0.49 | ) |  | $ | 0.93 |
Earnings (loss) per share—diluted (1) |  | $ | 0.60 |  |  | $ | 0.44 |  |  | $ | 0.37 |  |  | $ | (0.49 | ) |  | $ | 0.93 |
|  | 13 Weeks Ended |  | 13 Weeks Ended |  | 13 Weeks Ended |  | 13 Weeks Ended |  | 52 Weeks Ended
($ in millions except per share amounts) |  | May 5, 2018 |  | August 4, 2018 |  | November 3, 2018 |  | February 2, 2019 |  | February 2, 2019 (fiscal 2018)
Net sales |  | $ | 3,783 |  |  | $ | 4,085 |  |  | $ | 4,089 |  |  | $ | 4,623 |  |  | $ | 16,580 |
Gross profit |  | $ | 1,427 |  |  | $ | 1,627 |  |  | $ | 1,623 |  |  | $ | 1,645 |  |  | $ | 6,322 |
Net income |  | $ | 164 |  |  | $ | 297 |  |  | $ | 266 |  |  | $ | 276 |  |  | $ | 1,003 |
Earnings per share—basic (1) |  | $ | 0.42 |  |  | $ | 0.77 |  |  | $ | 0.69 |  |  | $ | 0.72 |  |  | $ | 2.61 |
Earnings per share—diluted (1) |  | $ | 0.42 |  |  | $ | 0.76 |  |  | $ | 0.69 |  |  | $ | 0.72 |  |  | $ | 2.59 |
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(1) | Earnings per share ("EPS") was computed individually for each of the periods presented; therefore, the sum of the EPS for the quarters may not equal the total for the year.
(2) | During the first quarter of fiscal 2019, there was a pre-tax gain of $191 million related to the sale of a building, which was recorded as a reduction to operating expenses and benefited diluted EPS by $0.37.
(3) | During the second quarter of fiscal 2019, the Company incurred $38 million of separation-related costs and $14 million for specialty fleet restructuring costs, both on a pre-tax basis, all of which was recorded in operating expenses. The impact of the separation-related and restructuring costs to diluted EPS was $0.08 and $0.03, respectively. Additionally, during the second quarter of fiscal 2019, there was an additional $30 million of tax expense related to an adjustment to our fiscal 2017 tax liability for additional guidance issued by the U.S. Treasury Department regarding the TCJA. The impact of the tax adjustment to diluted EPS was $0.08.
(4) | During the third quarter of fiscal 2019, the Company incurred $70 million for separation-related costs and $8 million for specialty fleet restructuring costs, both on a pre-tax basis, substantially all of which was recorded in operating expenses. The impact of the separation-related and restructuring costs to diluted EPS was $0.14 and $0.02, respectively.
(5) | During the fourth quarter of fiscal 2019, the Company incurred $296 million for impairment charges related to flagship stores, $189 million for separation-related costs including costs for the cancellation of our separation, and $38 million for specialty fleet restructuring costs, all on a pre-tax basis. Substantially all of the flagship impairment charges and separation-related costs were recorded in operating expenses and $17 million for specialty fleet restructuring costs was recorded in operating expenses. The impact of the impairment charges, separation-related costs, and restructuring costs to diluted EPS was $0.59, $0.38, and $0.10, respectively.
(6) In total, during fiscal year 2019, the Company incurred $301 million of separation-related costs including costs for the cancellation of our separation, $296 million of flagship impairment charges, and $61 million of specialty fleet restructuring costs, all on a pre-tax basis. There was also a $191 million pre-tax gain on the sale of a building during fiscal 2019. Additionally, there was a $30 million unfavorable impact to net income related to an adjustment to our fiscal 2017 tax liability for additional guidance issued by the U.S. Treasury Department regarding the TCJA. The total fiscal year 2019 net impact to diluted EPS was $1.04 for these items.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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