24. Quarterly Results (Unaudited)


	1^st Q		2^nd Q		3^rd Q		4^th Q⁽¹⁾			Year
	(in millions, except per share amounts)
Sales
2012		1,578		1,367		1,524		1,713		$	6,182
2011		1,452		1,275		1,394		1,502		$	5,623
Gross margin⁽²⁾
2012		537		428		505		564		$	2,034
2011		475		388		453		480		$	1,796
Operating profit⁽³⁾
2012		202		93		156		159		$	610
2011		150		59		106		122		$	437
Net income
2012		128		59		106		104	⁽⁴⁾⁽⁵⁾	$	397
2011		94		37		66		81	⁽⁴⁾	$	278
Basic earnings per share:
2012		0.84		0.39		0.70		0.69		$	2.62
2011		0.61		0.24		0.43		0.53		$	1.81
Diluted earnings per share:
2012		0.83		0.39		0.69		0.68		$	2.58
2011		0.60		0.24		0.43		0.53		$	1.80

(1)

The fourth quarter of 2012 represents the 14 weeks ended February 2, 2013.

(2)

Gross margin represents sales less cost of sales.

(3)

Operating profit represents income before income taxes, interest expense, net, and non-operating income.

(4)

During the fourth quarters of 2012 and 2011, the Company recorded impairment charges of $7 million and $5 million, respectively, related to its CCS tradename.

(5)

During the fourth quarter of 2012, the Company recorded an impairment charge of $5 million related to CCS long-lived assets, representing a full impairment of the stores net book value as the Company has determined that all the stores will close in the first quarter of 2013.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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