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Note 4 - Impairment and Other

6 Months Ended

Aug. 03, 2024

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

4. Impairment and Other

	*Thirteen weeks ended*				*Twenty-six weeks ended*
	*August 3,*		*July 29,*		*August 3,*		*July 29,*
($ in millions)	*2024*		*2023*		*2024*		*2023*
Impairment of long-lived assets and right-of-use assets	$	9	$	3	$	16	$	21
Legal claims		—		—		7		—
Transformation consulting		—		7		—		26
Reorganization costs		—		3		—		5
Other		—		1		—		1
Total impairment and other	$	9	$	14	$	23	$	53

For the thirteen weeks ended August 3, 2024, we recorded $9 million of impairment of long-lived assets and right-of-use assets primarily related to our decision to exit underperforming operations in South Korea, Denmark, Norway, and Sweden. We will close all stores operating in those regions as we focus on improving the overall results of our international operations. For the twenty-six weeks ended August 3, 2024, we recorded an additional $7 million of impairment of long-lived assets and right-of-use assets related to our decision to no longer operate, and to sublease, an unprofitable store in Europe, and a $7 million loss accrual for legal claims.