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Quarterly Results (unaudited) | 12 Months Ended
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Feb. 01, 2020
Quarterly Financial Data [Abstract] |
Quarterly Results (unaudited) | Quarterly Results (unaudited) Unaudited quarterly results for the last two years were as follows:
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (millions, except per share data)
2019: |  |  |  |  |  |  |
Net sales | $ | 5,504 |  |  | $ | 5,546 |  |  | $ | 5,173 |  |  | $ | 8,337 |
Credit card revenues, net | 172 |  |  | 176 |  |  | 183 |  |  | 239 |
Cost of sales | (3,403 | ) |  | (3,395 | ) |  | (3,106 | ) |  | (5,266 | )
Selling, general and administrative expenses | (2,112 | ) |  | (2,177 | ) |  | (2,202 | ) |  | (2,509 | )
Gains on sale of real estate | 43 |  |  | 7 |  |  | 17 |  |  | 95 |
Restructuring, impairment, store closing and other costs | (1 | ) |  | (2 | ) |  | (13 | ) |  | (337 | )
Benefit plan income, net | 7 |  |  | 8 |  |  | 8 |  |  | 8 |
Settlement charges | — |  |  | — |  |  | (12 | ) |  | (46 | )
Net income attributable to Macy's, Inc. shareholders | 136 |  |  | 86 |  |  | 2 |  |  | 340 |
Basic earnings per share attributable to Macy's, Inc. shareholders | 0.44 |  |  | 0.28 |  |  | 0.01 |  |  | 1.10 |
Diluted earnings per share attributable to Macy's, Inc. shareholders | 0.44 |  |  | 0.28 |  |  | 0.01 |  |  | 1.09 |
2018: |  |  |  |  |  |  |
Net sales | $ | 5,541 |  |  | $ | 5,572 |  |  | $ | 5,404 |  |  | $ | 8,455 |
Credit card revenues, net | 157 |  |  | 186 |  |  | 185 |  |  | 240 |
Cost of sales | (3,382 | ) |  | (3,320 | ) |  | (3,226 | ) |  | (5,288 | )
Selling, general and administrative expenses | (2,083 | ) |  | (2,164 | ) |  | (2,255 | ) |  | (2,538 | )
Gains on sale of real estate | 24 |  |  | 46 |  |  | 42 |  |  | 278 |
Restructuring, impairment, store closing and other costs | (19 | ) |  | (17 | ) |  | (3 | ) |  | (97 | )
Benefit plan income, net | 11 |  |  | 11 |  |  | 9 |  |  | 8 |
Settlement charges | — |  |  | (50 | ) |  | (23 | ) |  | (15 | )
Net income attributable to Macy's, Inc. shareholders | 139 |  |  | 166 |  |  | 62 |  |  | 740 |
Basic earnings per share attributable to Macy's, Inc. shareholders | 0.45 |  |  | 0.54 |  |  | 0.20 |  |  | 2.40 |
Diluted earnings per share attributable to Macy's, Inc. shareholders | 0.45 |  |  | 0.53 |  |  | 0.20 |  |  | 2.37 |
Note: Annual results may not equal the sum of the quarterly results for the respective periods due to rounding conventions.

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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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