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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jul. 28, 2012
Jul. 30, 2011
Jul. 28, 2012
Jul. 30, 2011
Net sales $ 3,575 [1] $ 3,386 [1] $ 7,062 [1] $ 6,681 [1]
Cost of goods sold and occupancy expenses 2,148 2,135 4,260 4,126
Gross profit 1,427 1,251 2,802 2,555
Operating expenses 1,002 917 1,982 1,835
Operating income 425 334 820 720
Interest expense 22 22 45 28
Interest income (2) (1) (3) (2)
Income before income taxes 405 313 778 694
Income taxes 162 124 302 272
Net income $ 243 $ 189 $ 476 $ 422
Weighted-average number of shares - basic 486 542 487 562
Weighted-average number of shares - diluted 491 545 493 567
Earnings per share - basic $ 0.50 $ 0.35 $ 0.98 $ 0.75
Earnings per share - diluted $ 0.49 $ 0.35 $ 0.97 $ 0.74
Cash dividends declared and paid per share $ 0.1250 $ 0.1125 $ 0.2500 $ 0.2250
[1] Net sales outside of the U.S. and Canada (including Direct and franchise) were $551 million and $515 million for the thirteen weeks ended July 28, 2012 and July 30, 2011, respectively. Net sales outside of the U.S. and Canada (including Direct and franchise) were $1.1 billion and $969 million for the twenty-six weeks ended July 28, 2012 and July 30, 2011, respectively.