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Quarterly Financial Data (Unaudited)
 12 Months Ended
Jan. 29, 2022
Quarterly Financial Data [Abstract]  
Quarterly Financial Data (Unaudited) Quarterly Financial Data (Unaudited)
The following table provides summarized quarterly financial data for 2021:
 Fiscal Quarter Ended
 May 1, 2021July 31, 2021October 30, 2021January 29, 2022
 (in millions except per share data)
Net Sales$1,554 $1,614 $1,441 $2,176 
Gross Profit672 670 565 853 
Operating Income226 203 108 333 
Income Before Income Taxes225 199 97 322 
Net Income174 151 75 246 
Net Income Per Basic Share (a)(b)$1.97 $1.71 $0.85 $2.82 
Net Income Per Diluted Share (a)(b)$1.97 $1.71 $0.81 $2.70 
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(a)Due to changes in stock prices during the year and timing of issuances of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year.
(b)For periods prior to the Separation, basic shares at the Separation date are being utilized for the calculation of basic and diluted net income per share. For additional information regarding the basic shares at the Separation date, see Note 4, "Earnings (Loss) Per Share."
The following table provides summarized quarterly financial data for 2020:
 Fiscal Quarter Ended
 May 2, 2020 (a)August 1, 2020 (b)October 31, 2020 (c)(d)January 30, 2021
 (in millions except per share data)
Net Sales$894 $1,066 $1,353 $2,100 
Gross Profit21 152 497 901 
Operating Income (Loss)(373)(243)127 388 
Income (Loss) Before Income Taxes(377)(245)127 389 
Net Income (Loss)(299)(200)143 284 
Net Income (Loss) Per Basic Share (e)(f)$(3.38)$(2.26)$1.62 $3.20 
Net Income (Loss) Per Diluted Share (e)(f)$(3.38)$(2.26)$1.62 $3.20 
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(a)Operating Loss includes the effect of a $97 million pre-tax impairment charge ($72 million after-tax) related to certain store and lease assets.
(b)Operating Loss includes the effect of a $117 million pre-tax impairment charge ($99 million after-tax) related to certain store and lease assets, a net pre-tax gain of $36 million ($25 million after-tax) related to the closure and lease termination for the Hong Kong flagship store and pre-tax severance and related charges of $51 million ($40 million after-tax).
(c)Operating Income includes the effect of a $30 million pre-tax gain ($27 million after-tax) related to the establishment of a joint venture for the U.K. and Ireland business with Next.
(d)Net Income includes the effect of a $44 million tax benefit related to a tax matter associated with foreign investments.
(e)Due to changes in stock prices during the year and timing of issuances of shares, the cumulative total of quarterly net income (loss) per share amounts may not equal the net income (loss) per share for the year.
(f)For periods prior to the Separation, basic shares at the Separation date are being utilized for the calculation of basic and diluted net income (loss) per share. For additional information regarding the basic shares at the Separation date, see Note 4, "Earnings (Loss) Per Share."