Quarterly report pursuant to Section 13 or 15(d)

Revenue (Notes)

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Revenue (Notes)
3 Months Ended
May 02, 2020
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue
Our contracts with customers primarily consist of sales of merchandise and services at the point of sale, sales of gift cards to a customer for a future purchase, customer loyalty rewards that provide discount rewards to customers based on purchase activity, and certain licensing and profit-sharing arrangements involving the use of our intellectual property by others.
Revenue includes Total net sales and Credit income and other. Net sales are categorized by merchandise and service sale groupings as we believe it best depicts the nature, amount, timing and uncertainty of revenue and cash flow.
The following table provides the components of Net sales for the three months ended May 2, 2020 and May 4, 2019:
Three Months Ended
($ in millions) May 2, 2020 May 4, 2019
Women’s apparel $ 216    20  % $ 515    21  %
Men’s apparel and accessories 213 19  % 478    20  %
Women’s accessories, including Sephora 170 16  % 377    15  %
Home 145 13  % 305    13  %
Footwear and handbags 117 11  % 256    10  %
Kid’s, including toys 85 % 200    %
Jewelry 75 % 138    %
Services and other 61 % 170    %
Total net sales $ 1,082    100  % $ 2,439    100  %
Credit income and other encompasses the revenue earned from the agreement with Synchrony Financial (Synchrony) associated with our private label credit card and co-branded MasterCard® programs.
The Company has contract liabilities associated with the sales of gift cards and our customer loyalty program. These liabilities include consideration received for gift card and loyalty related performance obligations which have not been satisfied as of a given date. The liabilities are included in Other accounts payable and accrued expenses in the unaudited Interim Consolidated Balance Sheets and were as follows:
(in millions) May 2, 2020 May 4, 2019 February 1, 2020
Gift cards $ 123    $ 121    $ 136   
Loyalty rewards 60    61    58   
Total contract liability $ 183    $ 182    $ 194   

A rollforward of the amounts included in contract liability for the first three months of 2020 and 2019 are as follows:
(in millions) 2020 2019
Beginning balance $ 194    $ 200   
Current period gift cards sold and loyalty reward points earned 37    78   
Net sales from amounts included in contract liability opening balances (23)   (36)  
Net sales from current period usage (25)   (60)  
Ending balance $ 183    $ 182