Properties and Leases (Tables)

12 Months Ended

Jan. 31, 2026

Property Plant and Equipment and Leases of Lessee [Abstract]

Schedule of Major Classes of Property, Plant and Equipment, Net

The major classes of property and equipment, net as of January 31, 2026 and February 1, 2025 are as follows:

	January 31, 2026		February 1, 2025
	(millions)
Land	$	1,134	$	1,168
Buildings on owned land	3,148		3,134
Buildings on leased land and leasehold improvements	1,331		1,334
Fixtures and equipment	3,385		3,611
	8,998		9,247
Less accumulated depreciation and amortization	4,255		4,177
	$	4,743	$	5,070

Schedule of ROU Assets and Lease Liabilities

ROU assets and lease liabilities consist of:

	Classification	January 31, 2026		February 1, 2025
		(millions)
Assets
Finance lease assets (a)	Right of Use Assets	$	9	$	10
Operating lease assets (b)	Right of Use Assets	2,127		2,233
Total lease assets		$	2,136	$	2,243
Liabilities
Current
Finance (a)	Accounts payable and accrued liabilities	$	2	$	2
Operating (b)	Accounts payable and accrued liabilities	361		365
Noncurrent
Finance (a)	Long-Term Lease Liabilities	11		13
Operating (b)	Long-Term Lease Liabilities	2,761		2,914
Total lease liabilities		$	3,135	$	3,294

(a) Finance lease assets are recorded net of accumulated amortization of $12 million and $11 million as of January 31, 2026 and February 1, 2025, respectively. As of both January 31, 2026 and February 1, 2025, finance lease assets included $1 million and noncurrent lease liabilities included $1 million of non-lease components.

(b) As of January 31, 2026, operating lease assets included $315 million of non-lease components and current and noncurrent lease liabilities included $36 million and $355 million, respectively, of non-lease components. As of February 1, 2025, operating lease assets included $317 million of non-lease components and current and noncurrent lease liabilities included $36 million and $356 million, respectively, of non-lease components.

Schedule of Components of Net Lease Expense

The components of net lease expense, recognized primarily within selling, general and administrative expenses are disclosed below. For 2025, 2024 and 2023, lease expense included $87 million, $89 million and $84 million, respectively, related to non-lease components.

	2025		2024		2023
	(millions)
Real estate
Operating leases (c) –
Minimum rents	$	361	$	375	$	372
Variable rents	64		63		55
	425		438		427
Less income from subleases –
Operating leases (d)	(54)		(50)		(46)
	$	371	$	388	$	381
Personal property – Operating leases	$	5	$	5	$	6

(c)	Certain supply chain operating lease expense amounts are included in cost of sales.
(d)	Represents sublease income from certain corporate office locations.

Schedule of Maturity of Lease Liabilities

As of January 31, 2026, the maturity of lease liabilities is as follows:

	Finance Leases		Operating Leases (e and f)		Total
	(millions)
Fiscal year
2026	$	3	$	393	$	396
2027	3		374		377
2028	2		357		359
2029	2		326		328
2030	1		322		323
After 2030	8		4,223		4,231
Total undiscounted lease payments	19		5,995		6,014
Less amount representing interest	6		2,873		2,879
Total lease liabilities	$	13	$	3,122	$	3,135

(e) Operating lease payments include $2,396 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $14 million of legally binding minimum lease payments for leases signed but not yet commenced.

(f) Operating lease payments include $968 million related to non-lease component payments, with $668 million of such payments related to options to extend lease terms that are reasonably certain of being exercised.

Schedule of Maturity of Lease Liabilities

As of January 31, 2026, the maturity of lease liabilities is as follows:

	Finance Leases		Operating Leases (e and f)		Total
	(millions)
Fiscal year
2026	$	3	$	393	$	396
2027	3		374		377
2028	2		357		359
2029	2		326		328
2030	1		322		323
After 2030	8		4,223		4,231
Total undiscounted lease payments	19		5,995		6,014
Less amount representing interest	6		2,873		2,879
Total lease liabilities	$	13	$	3,122	$	3,135

(e) Operating lease payments include $2,396 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $14 million of legally binding minimum lease payments for leases signed but not yet commenced.

(f) Operating lease payments include $968 million related to non-lease component payments, with $668 million of such payments related to options to extend lease terms that are reasonably certain of being exercised.

Schedule of Supplemental Information Regarding Assumptions and Cash Flows

Additional supplemental information regarding assumptions and cash flows for operating and finance leases is as follows:

Lease Term and Discount Rate	January 31, 2026		February 1, 2025
Weighted-average remaining lease term (years)
Finance leases	10.2		10.8
Operating leases	19.3		19.6
Weighted-average discount rate
Finance leases	7.12	%	7.15	%
Operating leases	6.83	%	6.80	%

Other Information	52 Weeks Ended January 31, 2026		52 Weeks Ended February 1, 2025
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used from operating leases	$	399	$	362
Financing cash flows used from financing leases	3		3
Leased assets obtained in exchange for new operating lease liabilities	48		117