Annual report pursuant to Section 13 and 15(d)

Quarterly Results of Operations (Unaudited) (Tables)

v3.8.0.1
Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Feb. 03, 2018
Quarterly Financial Data [Abstract]  
Schedule of Quarterly Results of Operations (Unaudited)
The following is a summary of our quarterly unaudited consolidated results of operations for 2017 and 2016
2017
 
 
 
 
 
 
 
 
($ in millions, except EPS)
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
Total net sales
$
2,706

  
$
2,962

  
$
2,807

  
$
4,031

  
Cost of goods sold (exclusive of depreciation and amortization)
1,723

 
1,923

 
1,852

  
2,676

 
SG&A expenses
843

  
842

  
840

  
943

  
Restructuring and management transition (1)
220

 
23

 
52

 
8

 
Net income/(loss)
(180
)
 
(62
)
 
(128
)
 
254


Diluted earnings/(loss) per share (2)
$
(0.58
)
 
$
(0.20
)
 
$
(0.41
)
 
$
0.81

 
2016
 
 
 
 
 
 
 
 
($ in millions, except EPS)
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
Total net sales
$
2,811

  
$
2,918

  
$
2,857

  
$
3,961

 
Cost of goods sold (exclusive of depreciation and amortization)
1,793

 
1,834

 
1,795

  
2,649


SG&A expenses
872

  
853

  
888

  
925

  
Restructuring and management transition (3)
6

 
9

 
2

 
9

 
Net income/(loss)
(68
)
 
(56
)
 
(67
)
 
192

 
Diluted earnings/(loss) per share (2)
$
(0.22
)
 
$
(0.18
)
 
$
(0.22
)
 
$
0.61

 

(1)
Restructuring and management transition charges (Note 17) by quarter for 2017 consisted of the following:
($ in million)
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
VERP
$
122

 
$

 
$

 
$

Home office and stores
98

 
23

 
52

 
3

Management transition

 

 

 

Other

 

 

 
5

Total
$
220

 
$
23

 
$
52

 
$
8


 
(2)
EPS is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding.
(3)
Restructuring and management transition charges (Note 17) by quarter for 2016 consisted of the following:
($ in millions)
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
Home office and stores
$
4

 
$

 
$
2

 
$
2

Management transition
2

 
1

 

 

Other

 
8

 

 
7

Total
$
6

 
$
9

 
$
2

 
$
9