Annual report pursuant to Section 13 and 15(d)

Quarterly Results (unaudited)

v3.21.1
Quarterly Results (unaudited)
12 Months Ended
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.