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Earnings Per Share | 6 Months Ended
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Aug. 03, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings (Loss) Per Share The following table sets forth the computation of basic and diluted earnings (loss) per share:
| 13 Weeks Ended
| August 3, 2024 |  | July 29, 2023
| Net Income |  |  |  | Shares |  | Net Loss |  |  |  | Shares
| (millions, except per share data)
Net income (loss) and average number of shares outstanding | $ | 150 |  |  |  |  | 276.7 |  |  | $ | (22) |  |  |  |  | 272.8 |
Shares to be issued under deferred compensation and other plans |  |  |  |  | 1.0 |  |  |  |  |  |  | 1.0 |
| $ | 150 |  |  |  |  | 277.7 |  |  | $ | (22) |  |  |  |  | 273.8 |
Basic earnings (loss) per share |  |  | $ | 0.54 |  |  |  |  |  |  | $ | (0.08) |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock units |  |  |  |  | 3.9 |  |  |  |  |  |  | — |
| $ | 150 |  |  |  |  | 281.6 |  |  | $ | (22) |  |  |  |  | 273.8 |
Diluted earnings (loss) per share |  |  | $ | 0.53 |  |  |  |  |  |  | $ | (0.08) |  |  |
| 26 Weeks Ended
| August 3, 2024 |  | July 29, 2023
| Net Income |  |  |  | Shares |  | Net Income |  |  |  | Shares
| (millions, except per share data)
Net income and average number of shares outstanding | $ | 212 |  |  |  |  | 276.0 |  |  | $ | 133 |  |  |  |  | 272.5 |
Shares to be issued under deferred compensation and other plans |  |  |  |  | 0.9 |  |  |  |  |  |  | 1.0 |
| $ | 212 |  |  |  |  | 276.9 |  |  | $ | 133 |  |  |  |  | 273.5 |
Basic earnings per share |  |  | $ | 0.77 |  |  |  |  |  |  | $ | 0.49 |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock units |  |  |  |  | 4.4 |  |  |  |  |  |  | 4.3 |
| $ | 212 |  |  |  |  | 281.3 |  |  | $ | 133 |  |  |  |  | 277.8 |
Diluted earnings per share |  |  | $ | 0.75 |  |  |  |  |  |  | $ | 0.48 |  |  |
In addition to the stock options and restricted stock units reflected in the foregoing table, stock options to purchase 8.0 million shares of common stock and restricted stock units relating to 0.3 million shares of common stock were outstanding at August 3, 2024, but were not included in the computation of diluted earnings per share for the 13 and 26 weeks ended August 3, 2024 because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met. Stock options to purchase 9.9 million shares of common stock and restricted stock units relating to 1.7 million shares of common stock were outstanding as of July 29, 2023 but were not included in the computation of diluted earnings per share for the 26 weeks ended July 29, 2023 because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met. For the 13 weeks ended July 29, 2023, as a result of the net loss, stock options to purchase 9.9 million shares of common stock and restricted stock units relating to 10.0 million shares of common stock were excluded from the calculation of diluted loss per share and, therefore, there was no difference in the weighted average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive.

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