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Quarterly Results (unaudited) | 12 Months Ended
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Jan. 30, 2021
Quarterly Financial Data [Abstract] |
Quarterly Results (unaudited) |
| 16. | 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) |
2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,017 |  |  | $ | 3,559 |  |  | $ | 3,990 |  |  | $ | 6,780 |
Credit card revenues, net |  |  | 131 |  |  |  | 168 |  |  |  | 195 |  |  |  | 258 |
Cost of sales |  |  | (2,501 | ) |  |  | (2,718 | ) |  |  | (2,569 | ) |  |  | (4,498 | )
Selling, general and administrative expenses |  |  | (1,598 | ) |  |  | (1,398 | ) |  |  | (1,726 | ) |  |  | (2,045 | )
Gains on sale of real estate |  |  | 16 |  |  |  | — |  |  |  | 3 |  |  |  | 40 |
Restructuring, impairment, store closing and other costs |  |  | (3,184 | ) |  |  | (242 | ) |  |  | (20 | ) |  |  | (134 | )
Benefit plan income, net |  |  | 9 |  |  |  | 12 |  |  |  | 16 |  |  |  | 17 |
Settlement charges |  |  | — |  |  |  | (38 | ) |  |  | (26 | ) |  |  | (19 | )
Net income (loss) |  |  | (3,581 | ) |  |  | (431 | ) |  |  | (91 | ) |  |  | 160 |
Basic earnings (loss) per share |  |  | (11.53 | ) |  |  | (1.39 | ) |  |  | (0.29 | ) |  |  | 0.51 |
Diluted earnings (loss) per share |  |  | (11.53 | ) |  |  | (1.39 | ) |  |  | (0.29 | ) |  |  | 0.50 |
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 |  |  | 136 |  |  |  | 86 |  |  |  | 2 |  |  |  | 340 |
Basic earnings per share |  |  | 0.44 |  |  |  | 0.28 |  |  |  | 0.01 |  |  |  | 1.10 |
Diluted earnings per share |  |  | 0.44 |  |  |  | 0.28 |  |  |  | 0.01 |  |  |  | 1.09 |
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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