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Restructuring Activities
3 Months Ended
May 02, 2026
Restructuring and Related Activities [Abstract]  
Restructuring Activities Restructuring Activities
In the first quarter of 2026, the Company implemented certain strategic leadership appointments and restructuring actions designed to further advance its Path to Potential strategy by continuing to restructure its executive leadership team and organizational structure. Pre-tax severance and other expenses related to these activities of $5 million are included in the first quarter of 2026 Consolidated Statement of Income, of which $3 million are included in General, Administrative and Store Operating Expenses and $2 million are included in Costs of Goods Sold, Buying and Occupancy.
In the first quarter and throughout fiscal year 2025, the Company implemented a series of strategic leadership appointments and restructuring actions designed to accelerate growth and continue to restructure its executive leadership team and organizational structure. The Company incurred severance, relocation and other expenses related to these activities in the first quarter and throughout fiscal year 2025.
In the first quarter of 2026, the Company made payments of $5 million related to severance and related costs associated with these restructuring actions implemented in fiscal years 2026 and 2025. Liabilities, after accrual adjustments, related to these restructuring actions of $10 million are included in the May 2, 2026 Consolidated Balance Sheet.