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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Feb. 03, 2018
Jan. 28, 2017
Quarterly Financial Data [Abstract]    
Summarized Quarterly Financial Data
The following table provides summarized quarterly financial data for 2017:
 
Fiscal Quarter Ended
 
April 29,
2017
 
July 29,
2017
 
October 28,
2017
 
February 3,
2018 (a)(b)(c)
 
(in millions except per share data)
Net Sales
$
2,437

 
$
2,755

 
$
2,618

 
$
4,823

Gross Profit
903

 
1,028

 
989

 
2,040

Operating Income
209

 
301

 
232

 
987

Income Before Income Taxes
118

 
217

 
135

 
842

Net Income
94

 
139

 
86

 
664

Net Income Per Basic Share (d)
$
0.33

 
$
0.48

 
$
0.30

 
$
2.36

Net Income Per Diluted Share (d)
$
0.33

 
$
0.48

 
$
0.30

 
$
2.33

 ________________
(a)
Includes the effect of a pre-tax loss of $45 million ($29 million net of tax) associated with the early extinguishment of the 2019 Notes, included in other income (loss).
(b)
Includes the effect of a $92 million tax benefit related to changes in U.S. tax legislation.
(c)
The Company utilizes the retail calendar for reporting. As such, the results for fiscal 2017 represent the 53-week period ended February 3, 2018 and the fourth quarter consists of a 14-week period.
(d)
Due to changes in stock prices during the year and timing of issuances and repurchases of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year.
The following table provides summarized quarterly financial data for 2016:
 
Fiscal Quarter Ended
 
April 30,
2016 (a)
 
July 30,
2016 (b)
 
October 29,
2016
 
January 28,
2017 (c)
 
(in millions except per share data)
Net Sales
$
2,614

 
$
2,890

 
$
2,581

 
$
4,489

Gross Profit
1,043

 
1,113

 
1,025

 
1,944

Operating Income
323

 
408

 
284

 
988

Income Before Income Taxes
233

 
380

 
190

 
893

Net Income
152

 
252

 
122

 
632

Net Income Per Basic Share (d)
$
0.53

 
$
0.88

 
$
0.43

 
$
2.21

Net Income Per Diluted Share (d)
$
0.52

 
$
0.87

 
$
0.42

 
$
2.18


 ________________
(a)
Includes the effect of a pre-tax gain of $35 million ($21 million net of tax) included in operating income, related to actions at Victoria's Secret, including severance charges, fabric cancellations and the write-off of catalogue paper.
(b)
Includes the effect of a pre-tax gain of $108 million ($70 million net of tax) related to a cash distribution from Easton Town Center, offset by a pre-tax loss of $36 million ($22 million net of tax) associated with the early extinguishment of the 2017 Notes, included in other income (loss).
(c)
Includes the effect of a $42 million tax benefit related to the favorable resolution of a discrete income tax matter.
(d)
Due to changes in stock prices during the year and timing of issuances and repurchases of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year.