v3.26.1
Segment Reporting
 3 Months Ended
May 02, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our Chief Operating Decision Maker (CODM)—our Chief Executive Officer—monitors our consolidated net earnings and operating income to evaluate performance and make operating decisions including whether to invest profits into capital projects, make equity or other investments, or return capital to shareholders. Consolidated assets as presented on our Consolidated Statements of Financial Position is the only view of assets regularly reviewed by our CODM. We operate as a single segment that includes all of our operations, which are designed to enable guests to purchase products seamlessly in stores or through our digital channels. Virtually all of our consolidated revenues are generated in the United States. The vast majority of our properties and equipment are located within the United States.

Business Segment ResultsThree Months Ended
(millions)May 2, 2026May 3, 2025
Net sales$25,443 $23,846 
Cost of sales
Merchandising cost of sales16,278 15,355 
Supply chain and digital fulfillment costs1,783 1,773 
Total cost of sales18,061 17,128 
Selling, general and administrative expenses (a)
5,562 4,591 
Depreciation and amortization (exclusive of depreciation included in cost of sales)
685 655 
Operating income (a)
1,135 1,472 
Net interest expense117 116 
Net other income(15)(26)
Earnings before income taxes1,033 1,382 
Provision for income taxes252 346 
Net earnings$781 $1,036 
(a)For the three months ended May 3, 2025, includes $593 million of pretax net gains related to settlements of credit card interchange fee litigation matters. Note 3 provides additional information.