Subsequent Events

12 Months Ended

Jan. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Subsequent to January 31, 2015, the Company's Board of Directors approved a new $250 million share repurchase program, which included the $91 million remaining under the November 2012 repurchase program. The Company repurchased an additional 0.2 million shares of common stock for $22 million under the February 2015 repurchase program subsequent to January 31, 2015. Additionally, the Company declared the first quarter 2015 ordinary dividend of $0.50 per share and a special dividend of $2 per share. The dividends totaled $731 million. For additional information, see Note 18, "Shareholders' Equity (Deficit)."

Subsequent to January 31, 2015, the Company divested its remaining ownership interest in the third-party apparel sourcing business to Sycamore Partners. The sale of the remaining ownership interest resulted in pre-tax cash proceeds of $85 million and a gain of approximately $78 million (after-tax gain of approximately $70 million) which will be recognized in the first quarter of 2015. For additional information, see Note 8, "Equity Investments and Other."

Subsequent to January 31, 2015, the Court of Appeals for the Federal Circuit issued an opinion on an outstanding patent infringement case. The Court of Appeals’ decision reversed the United States District Court for the Eastern District of Texas finding of infringement. On March 16, 2015, the plaintiff filed a petition for a rehearing with the Court of Appeals for the Federal Circuit. For additional information, see Note 16, "Commitments and Contingencies."