Segment Reporting

3 Months Ended

May 03, 2025

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

Our Chief Operating Decision Maker—our Chief Executive Officer—monitors our consolidated operating income and net earnings to evaluate performance and make operating decisions. We operate as a single segment that includes all of our operations, which are designed to enable guests to purchase products seamlessly in stores or through our digital channels. Virtually all of our consolidated revenues are generated in the United States. The vast majority of our properties and equipment are located within the United States.

Business Segment Results	Three Months Ended
(millions)	May 3, 2025		May 4, 2024
Net sales	$	23,846	$	24,531
Cost of sales
Merchandising cost of sales	15,355		15,846
Supply chain and digital fulfillment costs	1,773		1,625
Total cost of sales	17,128		17,471
Selling, general and administrative expenses (a)	4,591		5,146
Depreciation and amortization (exclusive of depreciation included in cost of sales)	655		618
Operating income	1,472		1,296
Net interest expense	116		106
Net other income	(26)		(29)
Earnings before income taxes	1,382		1,219
Provision for income taxes	346		277
Net earnings	$	1,036	$	942

(a)For the three months ended May 3, 2025, includes $593 million of pretax net gains related to settlements of credit card interchange fee litigation matters. Note 3 provides additional information.