10-Q – 2026-05-27 – R27.htm

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v3.26.1

Segment Reporting (Tables)

3 Months Ended

May 02, 2026

Segment Reporting [Abstract]
 

Schedule of Segment Reporting Information
The following table illustrates significant segment expenses that were regularly provided to the CODM for the first quarters of 2026 and 2025:

First Quarter
2026 2025
  (in millions)
Net Sales $ 1,378  $ 1,424 
Adjusted Cost of Goods Sold (521) (509)
Buying and Occupancy (269) (269)
Adjusted Selling Expenses (256) (256)
Adjusted Marketing Expenses (51) (49)
Adjusted General and Administrative Expenses (130) (132)
Adjusted Operating Income 151  209 
Interchange Fee Settlements (a) 88  — 
Business Transformation Activities (b) (8) — 
Reported Operating Income $ 231  $ 209 

 ________________
(a) In the first quarter of 2026, the Company received $88 million, net of legal fees, related to favorable settlements of payment card interchange fee litigation. The gain was recognized as a reduction to Selling Expenses and was excluded from the Adjusted Operating Income details provided to the CODM.
(b) In the first quarter of 2026, the Company recognized aggregate pre-tax costs of $8 million, resulting from business transformation activities in connection with the Consumer First Formula, of which $1 million, $2 million and $5 million, were excluded from the Cost of Goods Sold, Marketing Expenses and General and Administrative Expenses, respectively, in the Adjusted Operating Income details provided to the CODM.

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- Definition Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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