Impairment, Restructuring and Other Costs

12 Months Ended

Jan. 31, 2026

Restructuring Costs and Asset Impairment Charges [Abstract]

Impairment, Restructuring and Other Costs

Impairment, Restructuring and Other Costs (Benefits)

Impairment, restructuring and other costs (benefits) consist of the following:

	2025		2024		2023
	(millions)
Asset Impairments	$	160	$	88	$	957
Restructuring	47		44		55
Other	23		39		15
	$	230	$	171	$	1,027

On February 27, 2024, the Company announced its new strategy, Bold New Chapter, which is designed to return the Company to enterprise growth, unlock shareholder value and better serve its customers. The $230 million, $171 million and $1,027 million of impairment, restructuring and other costs, recognized in fiscal years 2025, 2024 and 2023 primarily relate to actions that align with Bold New Chapter. The $160 million, $88 million and $957 million of non-cash asset impairment charges recognized in fiscal 2025, 2024 and 2023, respectively, primarily related to locations planned for closure as part of the Bold New Chapter strategy, which is inclusive of both leased and owned locations, and the remaining amount is associated with corporate and other assets.

A summary of the restructuring liability and cash activity from the Company's Bold New Chapter strategy in 2025 and 2024, which are included within accounts payable and accrued liabilities, is as follows:

	Restructuring
Balance at February 3, 2024	$	46
Additions charged to expense	44
Cash payments	(59)
Balance at February 1, 2025	31
Additions charged to expense	47
Cash payments	(37)
Balance at January 31, 2026	$	41