Nordstrom (JWN) 10-Q 4 Sep 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Aug. 01, 2020	Aug. 28, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 1, 2020
Document Transition Report	false
Entity File Number	001-15059
Entity Registrant Name	NORDSTROM, INC.
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	91-0515058
Entity Address, Address Line One	1617 Sixth Avenue
Entity Address, City or Town	Seattle
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98101
City Area Code	206
Local Phone Number	628-2111
Title of 12(b) Security	Common stock, without par value
Trading Symbol	JWN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		157,150,280
Entity Central Index Key	0000072333
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--01-30

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Income Statement [Abstract]
Net sales	$ 1,778	$ 3,778	$ 3,804	$ 7,127
Credit card revenues, net	84	94	177	188
Total revenues	1,862	3,872	3,981	7,315
Cost of sales and related buying and occupancy costs	(1,406)	(2,476)	(3,216)	(4,704)
Selling, general and administrative expenses	(826)	(1,180)	(1,948)	(2,319)
(Loss) earnings before interest and income taxes	(370)	216	(1,183)	292
Interest expense, net	(51)	(23)	(85)	(46)
(Loss) earnings before income taxes	(421)	193	(1,268)	246
Income tax benefit (expense)	166	(52)	492	(69)
Net (loss) earnings	$ (255)	$ 141	$ (776)	$ 177
(Loss) earnings per share:
Basic (in dollars per share)	$ (1.62)	$ 0.91	$ (4.95)	$ 1.14
Diluted (in dollars per share)	$ (1.62)	$ 0.90	$ (4.95)	$ 1.14
Weighted-average shares outstanding:
Basic (in shares)	157.2	155	156.8	155
Diluted (in shares)	157.2	155.6	156.8	155.9

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net (loss) earnings	$ (255)	$ 141	$ (776)	$ 177
Foreign currency translation adjustment	11	7	(13)	(2)
Post retirement plan adjustments, net of tax	1	0	3	0
Comprehensive net (loss) earnings	$ (243)	$ 148	$ (786)	$ 175

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 01, 2020	Feb. 01, 2020	Aug. 03, 2019
Assets
Cash and cash equivalents	$ 991	$ 853	$ 956
Accounts receivable, net	146	179	211
Merchandise inventories	1,466	1,920	1,932
Prepaid expenses and other	802	278	384
Total current assets	3,405	3,230	3,483
Land, property and equipment (net of accumulated depreciation of $6,843, $6,995 and $6,813)	3,845	4,179	4,036
Operating lease right-of-use assets	1,655	1,774	1,801
Goodwill	249	249	249
Other assets	381	305	366
Total assets	9,535	9,737	9,935
Liabilities and Shareholders’ Equity
Borrowing under revolving line of credit	500	0	0
Accounts payable	1,298	1,576	1,819
Accrued salaries, wages and related benefits	288	510	442
Current portion of operating lease liabilities	272	244	237
Other current liabilities	1,284	1,190	1,427
Current portion of long-term debt	0	0	500
Total current liabilities	3,642	3,520	4,425
Long-term debt, net	3,266	2,676	2,178
Non-current operating lease liabilities	1,782	1,875	1,912
Other liabilities	671	687	661
Commitments and contingencies (Note 5)
Shareholders’ equity:
Common stock, no par value: 1,000 shares authorized; 157.1, 155.6 and 154.9 shares issued and outstanding	3,168	3,129	3,084
Accumulated deficit	(2,916)	(2,082)	(2,286)
Accumulated other comprehensive loss	(78)	(68)	(39)
Total shareholders’ equity	174	979	759
Total liabilities and shareholders’ equity	$ 9,535	$ 9,737	$ 9,935

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Aug. 01, 2020	Feb. 01, 2020	Aug. 03, 2019
Assets
Accumulated depreciation	$ 6,843	$ 6,995	$ 6,813
Shareholders' equity
Common stock, no par value (in dollars per share)	$ 0	$ 0	$ 0
Common stock, shares authorized	1,000	1,000	1,000
Common stock, shares issued	157.1	155.6	154.9
Common stock, shares outstanding	157.1	155.6	154.9

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]
Common stock, balance, beginning of period at Feb. 02, 2019		$ 3,048
Common stock
Issuance of common stock under stock compensation plans		11
Stock-based compensation		25
Common stock, balance, end of period at Aug. 03, 2019	$ 3,084	3,084
Accumulated deficit, balance, beginning of period at Feb. 02, 2019			$ (2,138)
Accumulated deficit
Cumulative effect of adopted accounting standard			(25)
Net (loss) earnings	177		177
Dividends			(114)
Repurchase of common stock			(186)
Accumulated deficit, balance, end of period at Aug. 03, 2019	(2,286)		(2,286)
Accumulated other comprehensive loss, balance, beginning of period at Feb. 02, 2019				$ (37)
Accumulated other comprehensive loss
Other comprehensive income (loss)				(2)
Accumulated other comprehensive loss, balance, end of period at Aug. 03, 2019	(39)			(39)
Total Shareholders’ Equity at Aug. 03, 2019	$ 759
Accumulated other comprehensive loss
Dividends per share	$ 0.74
Common stock, balance, beginning of period at May. 04, 2019		3,067
Common stock
Issuance of common stock under stock compensation plans		0
Stock-based compensation		17
Common stock, balance, end of period at Aug. 03, 2019	$ 3,084	3,084
Accumulated deficit, balance, beginning of period at May. 04, 2019			(2,370)
Accumulated deficit
Cumulative effect of adopted accounting standard			0
Net (loss) earnings	141		141
Dividends			(57)
Repurchase of common stock			0
Accumulated deficit, balance, end of period at Aug. 03, 2019	(2,286)		(2,286)
Accumulated other comprehensive loss, balance, beginning of period at May. 04, 2019				(46)
Accumulated other comprehensive loss
Other comprehensive income (loss)				7
Accumulated other comprehensive loss, balance, end of period at Aug. 03, 2019	(39)			(39)
Total Shareholders’ Equity at Aug. 03, 2019	$ 759
Accumulated other comprehensive loss
Dividends per share	$ 0.37
Common stock, balance, beginning of period at Feb. 01, 2020	$ 3,129	3,129
Common stock
Issuance of common stock under stock compensation plans		11
Stock-based compensation		28
Common stock, balance, end of period at Aug. 01, 2020	3,168	3,168
Accumulated deficit, balance, beginning of period at Feb. 01, 2020	(2,082)		(2,082)
Accumulated deficit
Cumulative effect of adopted accounting standard			0
Net (loss) earnings	(776)		(776)
Dividends			(58)
Repurchase of common stock			0
Accumulated deficit, balance, end of period at Aug. 01, 2020	(2,916)		(2,916)
Accumulated other comprehensive loss, balance, beginning of period at Feb. 01, 2020	(68)			(68)
Accumulated other comprehensive loss
Other comprehensive income (loss)				(10)
Accumulated other comprehensive loss, balance, end of period at Aug. 01, 2020	(78)			(78)
Total Shareholders’ Equity at Aug. 01, 2020	$ 174
Accumulated other comprehensive loss
Dividends per share	$ 0.37
Common stock, balance, beginning of period at May. 02, 2020		3,148
Common stock
Issuance of common stock under stock compensation plans		0
Stock-based compensation		20
Common stock, balance, end of period at Aug. 01, 2020	$ 3,168	$ 3,168
Accumulated deficit, balance, beginning of period at May. 02, 2020			(2,661)
Accumulated deficit
Cumulative effect of adopted accounting standard			0
Net (loss) earnings	(255)		(255)
Dividends			0
Repurchase of common stock			0
Accumulated deficit, balance, end of period at Aug. 01, 2020	(2,916)		$ (2,916)
Accumulated other comprehensive loss, balance, beginning of period at May. 02, 2020				(90)
Accumulated other comprehensive loss
Other comprehensive income (loss)				12
Accumulated other comprehensive loss, balance, end of period at Aug. 01, 2020	(78)			$ (78)
Total Shareholders’ Equity at Aug. 01, 2020	$ 174
Accumulated other comprehensive loss
Dividends per share	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Operating Activities
Net (loss) earnings	$ (776)	$ 177
Adjustments to reconcile net (loss) earnings to net cash (used in) provided by operating activities:
Depreciation and amortization expenses and other, net	353	325
Asset impairment	137	0
Right-of-use asset amortization	85	89
Deferred income taxes, net	(67)	(21)
Stock-based compensation expense	33	40
Change in operating assets and liabilities:
Accounts receivable	49	21
Merchandise inventories	397	1
Prepaid expenses and other assets	(534)	(140)
Accounts payable	(49)	322
Accrued salaries, wages and related benefits	(219)	(137)
Other current liabilities	98	128
Lease liabilities	(103)	(125)
Other liabilities	5	12
Net cash (used in) provided by operating activities	(591)	692
Investing Activities
Capital expenditures	(228)	(480)
Other, net	17	26
Net cash used in investing activities	(211)	(454)
Financing Activities
Proceeds from revolving line of credit	800	0
Payments on revolving line of credit	(300)	0
Proceeds from long-term borrowings	600	0
(Decrease) Increase in cash book overdrafts	(84)	92
Cash dividends paid	(58)	(114)
Payments for repurchase of common stock	0	(210)
Proceeds from issuances under stock compensation plans	11	11
Tax withholding on share-based awards	(8)	(18)
Other, net	(12)	0
Net cash provided by (used in) financing activities	949	(239)
Effect of exchange rate changes on cash and cash equivalents	(9)	0
Net increase (decrease) in cash and cash equivalents	138	(1)
Cash and cash equivalents at beginning of period	853	957
Cash and cash equivalents at end of period	991	956
Cash paid during the period for:
Income taxes, net	8	62
Interest, net of capitalized interest	$ 68	$ 50

Basis Of Presentation

Basis Of Presentation	6 Months Ended
	Aug. 01, 2020
Basis of Presentation [Abstract]
Basis Of Presentation	NOTE 1: BASIS OF PRESENTATION The accompanying Condensed Consolidated Financial Statements include the balances of Nordstrom, Inc. and its subsidiaries. All intercompany transactions and balances are eliminated in consolidation. The interim Condensed Consolidated Financial Statements have been prepared on a basis consistent in all material respects with the accounting policies described and applied in our 2019 Annual Report and reflect all adjustments of a normal recurring nature that are, in management’s opinion, necessary for the fair presentation of the results of operations, financial position and cash flows for the periods presented. The Condensed Consolidated Financial Statements as of and for the periods ended August 1, 2020 and August 3, 2019 are unaudited. The Condensed Consolidated Balance Sheet as of February 1, 2020 has been derived from the audited Consolidated Financial Statements included in our 2019 Annual Report. The interim Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and related footnote disclosures contained in our 2019 Annual Report. Our business, like that of other retailers, is subject to seasonal fluctuations. Our sales are typically higher in our second quarter, which historically included our Anniversary Sale, and the holidays in the fourth quarter. As a result of COVID-19, the Anniversary Sale has moved to August in 2020, which falls entirely in our third fiscal quarter. Results for any one quarter may not be indicative of the results that may be achieved for a full fiscal year. Use of Estimates The preparation of financial statements in conformity with GAAP in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities during the reporting period. Uncertainties regarding such estimates and assumptions are inherent in the preparation of financial statements and actual results may differ from these estimates and assumptions. Our most significant accounting judgments and estimates include leases, revenue recognition, long-lived asset recoverability, goodwill impairment and income taxes, all of which involve assumptions about future events. We may be unable to accurately predict the impact of COVID-19 going forward and as a result our estimates may change in the near term. See below for areas that required more judgments and estimation as a result of COVID-19. Revenue Recognition We reduce sales and cost of sales by an estimate of our future customer merchandise returns, which is calculated based on historical return patterns, and record a sales return allowance and an estimated return asset. We record the impact of the sales return allowance in our separate Full-Price, Off-Price and digital sales metrics. The majority of our returns from both digital and physical sales come through our stores. While our stores were temporarily closed approximately 50% of the days for the quarter and six months ended August 1, 2020, our customers were generally not able to return goods in our stores, impacting the expected timing of returns. As a result, our estimates of future returns require more judgment, and actual returns may differ from our historical return rates. Long-Lived Assets When facts and circumstances indicate that the carrying values of buildings, equipment and ROU assets may be impaired, we compare the carrying value to the related projected future cash flows, among other quantitative and qualitative analysis. These projections are inherently subject to uncertainties and while we believe the inputs and assumptions utilized in our future cash flows are reasonable, our estimates may change in the near term based on our future performance. As we optimize our mix of physical and digital assets to align with longer-term customer trends, we closed 16 FLS, six Trunk Club clubhouses and three Jeffrey boutiques. As part of these closures, we incurred non-cash impairment charges on long-lived tangible and ROU assets, primarily associated with the FLS closures, to adjust the carrying values to their estimated fair value. The following table provides details related to asset impairment charges as a result of COVID-19: August 1, 2020 Quarter Ended Six Months Ended Long-lived asset impairment 1 $2 $96 Operating lease ROU asset impairment 1 18 41 Total asset impairment $20 $137 1 As of August 1, 2020, the carrying value of the applicable long-lived and operating lease ROU assets after impairment was $14 and $6. These charges are primarily included in our Retail segment SG&A expense on the Condensed Consolidated Statement of Earnings. Goodwill Impairment We review our goodwill annually in the fourth quarter or when circumstances indicate that the carrying value may exceed fair value. Our most recently completed goodwill impairment analyses in the fourth quarter of 2019 indicated significant excess fair values over carrying values. After performing both qualitative and quantitative analyses, including review of future long-term revenue and cash flow assumptions, we concluded a triggering event requiring us to accelerate our annual goodwill impairment analysis did not occur, as we still expect any potential change in fair value to exceed carrying value. As a result, we did not record a goodwill impairment charge for the six months ended August 1, 2020. CARES Act and Other COVID-19 Stimulus On March 27, 2020, the CARES Act was signed into law, providing payroll tax credits for employee retention, deferral of payroll taxes and several income tax provisions including modifications to the net interest deduction limitation, changes to certain property depreciation and allowing for carryback of certain operating losses. We have estimated the impacts of the CARES Act and other COVID-19 related stimulus in accordance with our overall approach for determining our income tax provision, which uses an estimated annual effective tax rate based on our best estimates and adjusts for discrete taxable events that occur during the quarter. As a result, we will carryback our 2020 U.S. federal operating loss and recover taxes previously paid at the applicable 35% tax rate rather than the current rate of 21%. Our estimated annual effective tax rate reflects this benefit and is the primary driver for the rate increase when compared with the same period in 2019. As a result, we recorded $437 in taxes receivable as of August 1, 2020, which is classified in prepaid expenses and other on the Condensed Consolidated Balance Sheet. In addition, for the six months ended August 1, 2020, we recognized $58 in employee retention payroll tax credits and elected to defer payment of the employer portion of social security taxes, both as provided for under the CARES Act and other COVID-19 related stimulus. Severance In the first quarter of 2020, we recorded $88 of restructuring costs in connection with our regional and corporate reorganization, including $25 in cost of sales and related buying and occupancy costs and $63 in SG&A on the Condensed Consolidated Statement of Earnings. We have approximately $25 of payments remaining as of August 1, 2020. Leases We incurred operating lease liabilities arising from the commencement of lease agreements of $39 for the six months ended August 1, 2020 and $58

Revenue

Revenue	6 Months Ended
	Aug. 01, 2020
Revenue from Contract with Customer [Abstract]
Revenue	NOTE 2: REVENUE Contract Liabilities Contract liabilities represent our obligation to transfer goods or services to customers and include deferred revenue for The Nordy Club (including points and Nordstrom Notes) and gift cards. Our contract liabilities are classified as current on the Condensed Consolidated Balance Sheets and are as follows: Contract Liabilities Balance as of February 2, 2019 $548 Balance as of May 4, 2019 504 Balance as of August 3, 2019 488 Balance as of February 1, 2020 576 Balance as of May 2, 2020 489 Balance as of August 1, 2020 498 Revenues recognized from our beginning contract liability balance were $71 and $175 for the quarter and six months ended August 1, 2020 and $138 and $231 for the quarter and six months ended August 3, 2019. Disaggregation of Revenue The following table summarizes our disaggregated net sales: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 Full-Price $1,066 $2,530 $2,423 $4,657 Off-Price 712 1,248 1,381 2,470 Total net sales $1,778 $3,778 $3,804 $7,127 Digital sales as a % of total net sales 61 % 30 % 57 % 31 % The following table summarizes the percent of net sales by merchandise category: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 Women’s Apparel 27 % 32 % 30 % 32 % Shoes 27 % 23 % 26 % 24 % Men’s Apparel 12 % 16 % 11 % 16 % Women’s Accessories 15 % 11 % 14 % 11 % Beauty 12 % 11 % 12 % 11 % Kids’ Apparel 4 % 4 % 4 % 4 % Other 3 % 3 % 3 % 2 % Total net sales 100 % 100 % 100 % 100 %

Debt And Credit Facilities

Debt And Credit Facilities	6 Months Ended
	Aug. 01, 2020
Debt Disclosure [Abstract]
Debt And Credit Facilities	NOTE 3: DEBT AND CREDIT FACILITIES Debt During the first quarter of 2020, we issued $600 aggregate principal amount of 8.750% Senior Secured Notes due May 2025. These notes are guaranteed by certain subsidiaries and secured by various store, distribution center and corporate properties. The Secured Notes contain covenants that include limitations on indebtedness, liens, mergers, acquisitions, asset sales, investments, dividend payments and equity distributions, in addition to certain change of control triggering events and provisions for events of default. We will be permitted to prepay our Secured Notes at a premium beginning in 2022. Credit Facilities During the first quarter of 2020, we amended our existing Revolver and borrowed $800. Under the terms of the amendment, if our Leverage Ratio is greater than four or our unsecured debt is rated below BBB- with a stable outlook at Standard & Poor’s or Baa3 with a stable outlook at Moody’s, any borrowings under our Revolver will be secured by substantially all our personal property and we will be subject to asset coverage and minimum liquidity covenants, as well as a fixed charge coverage covenant beginning in the third quarter of 2020. If our Leverage Ratio is below four and our unsecured debt is rated at or above BBB- with a stable outlook at Standard & Poor’s or Baa3 with a stable outlook at Moody’s, any borrowings under our Revolver will be unsecured, we will not be subject to the above covenants and the restrictions on dividend payments and share repurchases will be removed. As of August 1, 2020, our borrowings under the Revolver were classified as secured as our Leverage Ratio exceeded four and we did not meet or exceed our credit rating threshold. We met our asset coverage and minimum liquidity covenants. Provided that we obtain written consent from the lenders, we have the option to increase the Revolver by up to $200, to a total of $1,000, and two options to extend the Revolver by one year. The Revolver expires in September 2023 and is classified in total current liabilities on the Condensed Consolidated Balance Sheet. During the second quarter of 2020, we repaid $300 of the $800 previously borrowed. The Revolver contains customary representations, warranties, covenants and terms, including paying a variable rate of interest and a commitment fee based on our debt rating. The Revolver is available for working capital, capital expenditures and general corporate purposes. As a result of our borrowings under the Revolver, the full capacity of our $800 commercial paper program is not available to us at this time. When available, the program allows us to use the proceeds to fund operating cash requirements. Under the terms of the commercial paper agreement, we pay a rate of interest based on, among other factors, the maturity of the issuance and market conditions. The issuance of commercial paper has the effect of reducing available liquidity under the Revolver by an amount equal to the principal amount of commercial paper outstanding. As of August 1, 2020, we had no issuances outstanding under our commercial paper program.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Aug. 01, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 4: FAIR VALUE MEASUREMENTS We disclose our financial assets and liabilities that are measured at fair value in our Condensed Consolidated Balance Sheets by level within the fair value hierarchy as defined by applicable accounting standards: Level 1: Quoted market prices in active markets for identical assets or liabilities Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own assumptions Financial Instruments Measured at Carrying Value Financial instruments measured at carrying value on a recurring basis include cash and cash equivalents, accounts receivable, accounts payable and our Revolver, which approximate fair value due to their short-term nature. Long-term debt is recorded at carrying value. If long-term debt was measured at fair value, we would use quoted market prices of the same or similar issues, which is considered a Level 2 fair value measurement. The following table summarizes the carrying value and fair value estimate of our long-term debt, including current maturities: August 1, 2020 February 1, 2020 August 3, 2019 Carrying value of long-term debt $3,266 $2,676 $2,678 Fair value of long-term debt 2,922 2,905 2,782 Non-financial Assets Measured at Fair Value on a Nonrecurring Basis We also measure certain non-financial assets at fair value on a nonrecurring basis, primarily goodwill, long-lived tangible and ROU assets, in connection with periodic evaluations for potential impairment. We estimate the fair value of these assets using primarily unobservable inputs and, as such, these are considered Level 3 fair value measurements. For more information regarding long-lived tangible and ROU asset impairment charges for the six months ended August 1, 2020, see Note 1: Basis of Presentation. There were no material impairment charges for the six months ended August 3, 2019.

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Aug. 01, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 5: COMMITMENTS AND CONTINGENCIES Our NYC flagship store opened in October 2019 and the related building and equipment assets were placed into service at the end of the third quarter of 2019, while construction continues in the residential condominium units above the store. As of August 1, 2020, we have a fee interest in the retail condominium unit. We are committed to make one remaining installment payment based on the developer meeting final pre-established construction and development milestones. Precautions related to the COVID-19 pandemic have caused delays in meeting these milestones and the timing of the remaining payment. Our estimated total purchase obligations decreased by approximately 30% a s of August 1, 2020, compared with our balance as of February 2, 2020. This decrease was primarily from a reduction in inventory purchase orders.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Aug. 01, 2020
Stockholders' Equity Note [Abstract]
Shareholders' Equity	NOTE 6: SHAREHOLDERS’ EQUITY In August 2018, our Board of Directors authorized a program to repurchase up to $1,500 of our outstanding common stock, with no expiration date. On March 23, 2020, in response to uncertainty from the COVID-19 pandemic, we announced the suspension of our quarterly dividend payments beginning in the second quarter of 2020 and the immediate suspension of our share repurchase program. We remain committed to these programs over the long-term and intend to resume dividend payments and share repurchases when appropria te. Th e following is a summary of share repurchase activity: Six Months Ended August 1, 2020 August 3, 2019 2018 Program Shares of common stock repurchased — 4.1 Aggregate amount of common stock repurchased — $186 We had $707 remaining in share repurchase capacity as of August 1, 2020. The actual timing, price, manner and amounts of future share repurchases, if any, will be subject to market and economic conditions, certain financial covenants and applicable SEC rules. The amendment to our Revolver contains negative covenants with respect to the payment of dividends and share repurchases when either our Leverage Ratio is above four or our unsecured debt is rated below BBB- with a stable outlook at Standard & Poor’s or Baa3 with a stable outlook at Moody’s. As of August 1, 2020, our Leverage Ratio exceeded four and we did not meet our credit rating covenant, preventing us from paying dividends or repurchasing shares.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Aug. 01, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	NOTE 7: STOCK-BASED COMPENSATION The following table summarizes our stock-based compensation expense: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 RSUs $16 $14 $29 $28 Stock options 2 3 4 7 Other 1 2 3 — 5 Total stock-based compensation expense, before income tax benefit 20 20 33 40 Income tax benefit (8) (5) (13) (10) Total stock-based compensation expense, net of income tax benefit $12 $15 $20 $30 1 Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards. The following table summarizes our grant allocations: Six Months Ended August 1, 2020 August 3, 2019 Granted Weighted-average grant-date fair value per unit Granted Weighted-average grant-date fair value per unit RSUs 3.3 $21 1.1 $41 Stock options 1.8 $7 1.0 $15 PSUs 0.4 $24 0.3 $42 Under our deferred and stock-based compensation plan arrangements, we issued 0.1 and 1.6 shares of common stock during the quarter and six months ended August 1, 2020 and 0.3 and 1.4 shares during the quarter and six months ended August 3, 2019.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Aug. 01, 2020
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 8: EARNINGS PER SHARE The computation of EPS is as follows: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 Net (loss) earnings ($255) $141 ($776) $177 Basic shares 157.2 155.0 156.8 155.0 Dilutive effect of common stock equivalents — 0.6 — 0.9 Diluted shares 157.2 155.6 156.8 155.9 (Loss) earnings per basic share ($1.62) $0.91 ($4.95) $1.14 (Loss) earnings per diluted share ($1.62) $0.90 ($4.95) $1.14 Anti-dilutive common stock equivalents 14.4 11.5 13.7 10.4

Segment Reporting

Segment Reporting	6 Months Ended
	Aug. 01, 2020
Segment Reporting [Abstract]
Segment Reporting	NOTE 9: SEGMENT REPORTING The following table sets forth information for our reportable segment: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 Retail segment EBIT ($394) $272 ($1,105) $414 Corporate/Other income (loss) before interest and income taxes 24 (56) (78) (122) Interest expense, net (51) (23) (85) (46) (Loss) earnings before income taxes ($421) $193 ($1,268) $246 For information about disaggregated revenues, see Note 2: Revenue.

Basis Of Presentation (Policies

Basis Of Presentation (Policies)	6 Months Ended
	Aug. 01, 2020
Basis of Presentation [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities during the reporting period. Uncertainties regarding such estimates and assumptions are inherent in the preparation of financial statements and actual results may differ from these estimates and assumptions. Our most significant accounting judgments and estimates include leases, revenue recognition, long-lived asset recoverability, goodwill impairment and income taxes, all of which involve assumptions about future events. We may be unable to accurately predict the impact of COVID-19 going forward and as a result our estimates may change in the near term. See below for areas that required more judgments and estimation as a result of COVID-19. Revenue Recognition We reduce sales and cost of sales by an estimate of our future customer merchandise returns, which is calculated based on historical return patterns, and record a sales return allowance and an estimated return asset. We record the impact of the sales return allowance in our separate Full-Price, Off-Price and digital sales metrics. The majority of our returns from both digital and physical sales come through our stores. While our stores were temporarily closed approximately 50% of the days for the quarter and six months ended August 1, 2020, our customers were generally not able to return goods in our stores, impacting the expected timing of returns. As a result, our estimates of future returns require more judgment, and actual returns may differ from our historical return rates. Long-Lived Assets When facts and circumstances indicate that the carrying values of buildings, equipment and ROU assets may be impaired, we compare the carrying value to the related projected future cash flows, among other quantitative and qualitative analysis. These projections are inherently subject to uncertainties and while we believe the inputs and assumptions utilized in our future cash flows are reasonable, our estimates may change in the near term based on our future performance. As we optimize our mix of physical and digital assets to align with longer-term customer trends, we closed 16 FLS, six Trunk Club clubhouses and three Jeffrey boutiques. As part of these closures, we incurred non-cash impairment charges on long-lived tangible and ROU assets, primarily associated with the FLS closures, to adjust the carrying values to their estimated fair value. The following table provides details related to asset impairment charges as a result of COVID-19: August 1, 2020 Quarter Ended Six Months Ended Long-lived asset impairment 1 $2 $96 Operating lease ROU asset impairment 1 18 41 Total asset impairment $20 $137 1 As of August 1, 2020, the carrying value of the applicable long-lived and operating lease ROU assets after impairment was $14 and $6. These charges are primarily included in our Retail segment SG&A expense on the Condensed Consolidated Statement of Earnings. Goodwill Impairment We review our goodwill annually in the fourth quarter or when circumstances indicate that the carrying value may exceed fair value. Our most recently completed goodwill impairment analyses in the fourth quarter of 2019 indicated significant excess fair values over carrying values. After performing both qualitative and quantitative analyses, including review of future long-term revenue and cash flow assumptions, we concluded a triggering event requiring us to accelerate our annual goodwill impairment analysis did not occur, as we still expect any potential change in fair value to exceed carrying value. As a result, we did not record a goodwill impairment charge for the six months ended August 1, 2020. CARES Act and Other COVID-19 Stimulus On March 27, 2020, the CARES Act was signed into law, providing payroll tax credits for employee retention, deferral of payroll taxes and several income tax provisions including modifications to the net interest deduction limitation, changes to certain property depreciation and allowing for carryback of certain operating losses. We have estimated the impacts of the CARES Act and other COVID-19 related stimulus in accordance with our overall approach for determining our income tax provision, which uses an estimated annual effective tax rate based on our best estimates and adjusts for discrete taxable events that occur during the quarter. As a result, we will carryback our 2020 U.S. federal operating loss and recover taxes previously paid at the applicable 35% tax rate rather than the current rate of 21%. Our estimated annual effective tax rate reflects this benefit and is the primary driver for the rate increase when compared with the same period in 2019. As a result, we recorded $437 in taxes receivable as of August 1, 2020, which is classified in prepaid expenses and other on the Condensed Consolidated Balance Sheet. In addition, for the six months ended August 1, 2020, we recognized $58 in employee retention payroll tax credits and elected to defer payment of the employer portion of social security taxes, both as provided for under the CARES Act and other COVID-19 related stimulus. Severance In the first quarter of 2020, we recorded $88 of restructuring costs in connection with our regional and corporate reorganization, including $25 in cost of sales and related buying and occupancy costs and $63 in SG&A on the Condensed Consolidated Statement of Earnings. We have approximately $25 of payments remaining as of August 1, 2020.

Basis Of Presentation (Tables)

Basis Of Presentation (Tables)	6 Months Ended
	Aug. 01, 2020
Basis of Presentation [Abstract]
COVID-19 Related Asset Impairment Charges	The following table provides details related to asset impairment charges as a result of COVID-19: August 1, 2020 Quarter Ended Six Months Ended Long-lived asset impairment 1 $2 $96 Operating lease ROU asset impairment 1 18 41 Total asset impairment $20 $137 1 As of August 1, 2020, the carrying value of the applicable long-lived and operating lease ROU assets after impairment was $14 and $6.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Aug. 01, 2020
Revenue from Contract with Customer [Abstract]
Summary Of Contract Liabilities	Our contract liabilities are classified as current on the Condensed Consolidated Balance Sheets and are as follows: Contract Liabilities Balance as of February 2, 2019 $548 Balance as of May 4, 2019 504 Balance as of August 3, 2019 488 Balance as of February 1, 2020 576 Balance as of May 2, 2020 489 Balance as of August 1, 2020 498
Disaggregated Net Sales	The following table summarizes our disaggregated net sales: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 Full-Price $1,066 $2,530 $2,423 $4,657 Off-Price 712 1,248 1,381 2,470 Total net sales $1,778 $3,778 $3,804 $7,127 Digital sales as a % of total net sales 61 % 30 % 57 % 31 %
Percent Of Net Sales By Merchandise Category Summary	The following table summarizes the percent of net sales by merchandise category: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 Women’s Apparel 27 % 32 % 30 % 32 % Shoes 27 % 23 % 26 % 24 % Men’s Apparel 12 % 16 % 11 % 16 % Women’s Accessories 15 % 11 % 14 % 11 % Beauty 12 % 11 % 12 % 11 % Kids’ Apparel 4 % 4 % 4 % 4 % Other 3 % 3 % 3 % 2 % Total net sales 100 % 100 % 100 % 100 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Aug. 01, 2020
Fair Value Disclosures [Abstract]
Summary Of Carrying Value And Fair Value Estimate Of Long-Term Debt	The following table summarizes the carrying value and fair value estimate of our long-term debt, including current maturities: August 1, 2020 February 1, 2020 August 3, 2019 Carrying value of long-term debt $3,266 $2,676 $2,678 Fair value of long-term debt 2,922 2,905 2,782

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Aug. 01, 2020
Stockholders' Equity Note [Abstract]
Summary Of Share Repurchase Activity	The following is a summary of share repurchase activity: Six Months Ended August 1, 2020 August 3, 2019 2018 Program Shares of common stock repurchased — 4.1 Aggregate amount of common stock repurchased — $186

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Aug. 01, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Summary Of Stock-Based Compensation Expense	The following table summarizes our stock-based compensation expense: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 RSUs $16 $14 $29 $28 Stock options 2 3 4 7 Other 1 2 3 — 5 Total stock-based compensation expense, before income tax benefit 20 20 33 40 Income tax benefit (8) (5) (13) (10) Total stock-based compensation expense, net of income tax benefit $12 $15 $20 $30 1 Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards.
Summary Of Grants	The following table summarizes our grant allocations: Six Months Ended August 1, 2020 August 3, 2019 Granted Weighted-average grant-date fair value per unit Granted Weighted-average grant-date fair value per unit RSUs 3.3 $21 1.1 $41 Stock options 1.8 $7 1.0 $15 PSUs 0.4 $24 0.3 $42

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Aug. 01, 2020
Earnings Per Share [Abstract]
Computation Of Earnings Per Share	The computation of EPS is as follows: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 Net (loss) earnings ($255) $141 ($776) $177 Basic shares 157.2 155.0 156.8 155.0 Dilutive effect of common stock equivalents — 0.6 — 0.9 Diluted shares 157.2 155.6 156.8 155.9 (Loss) earnings per basic share ($1.62) $0.91 ($4.95) $1.14 (Loss) earnings per diluted share ($1.62) $0.90 ($4.95) $1.14 Anti-dilutive common stock equivalents 14.4 11.5 13.7 10.4

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Aug. 01, 2020
Segment Reporting [Abstract]
Information By Reportable Segment	The following table sets forth information for our reportable segment: Quarter Ended Six Months Ended August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019 Retail segment EBIT ($394) $272 ($1,105) $414 Corporate/Other income (loss) before interest and income taxes 24 (56) (78) (122) Interest expense, net (51) (23) (85) (46) (Loss) earnings before income taxes ($421) $193 ($1,268) $246

Basis Of Presentation (COVID-19

Basis Of Presentation (COVID-19 Related Asset Impairment Charges) (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
		Aug. 01, 2020	Aug. 01, 2020	Aug. 03, 2019
Property, Plant and Equipment [Line Items]
Long-lived asset impairment	[1]	$ 2	$ 96
Operating lease ROU asset impairment	[1]	18	41
Total asset impairment		20	137	$ 0
Applicable long-lived assets [Member]
Property, Plant and Equipment [Line Items]
Carrying value of applicable assets after impairment		14	14
Applicable operating lease ROU assets [Member]
Property, Plant and Equipment [Line Items]
Carrying value of applicable assets after impairment		$ 6	$ 6
[1]	As of August 1, 2020, the carrying value of the applicable long-lived and operating lease ROU assets after impairment was $14 and $6.

Basis Of Presentation (Narrativ

Basis Of Presentation (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended		11 Months Ended
	Aug. 01, 2020USD ($)store	Aug. 01, 2020USD ($)store	Aug. 03, 2019USD ($)	Dec. 31, 2017
Basis Of Presentation [Line Items]
Days Closed	50.00%	50.00%
Goodwill impairment charges		$ 0
Effective federal income tax rate		21.00%		35.00%
Income taxes receivable	$ 437	$ 437
Employee retention payroll tax credits		58
Restructuring costs		88
Approximate severance payments remaining	$ 25	25
Operating lease liabilities arising from the commencement of lease agreements		39	$ 58
Cost Of Sales And Related Buying And Occupancy Costs [Member]
Basis Of Presentation [Line Items]
Restructuring costs		25
Selling, General and Administrative Expenses [Member]
Basis Of Presentation [Line Items]
Restructuring costs		$ 63
Nordstrom US [Member]
Basis Of Presentation [Line Items]
Number of stores | store	16	16
Trunk Club [Member]
Basis Of Presentation [Line Items]
Number of stores | store	6	6
Jeffrey Boutiques [Member]
Basis Of Presentation [Line Items]
Number of stores | store	3	3

Revenue (Summary Of Contract Li

Revenue (Summary Of Contract Liabilities) (Details) - USD ($) $ in Millions	Aug. 01, 2020	May 02, 2020	Feb. 01, 2020	Aug. 03, 2019	May 04, 2019	Feb. 02, 2019
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 498	$ 489	$ 576	$ 488	$ 504	$ 548

Revenue (Disaggregated Net Sale

Revenue (Disaggregated Net Sales) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 1,778	$ 3,778	$ 3,804	$ 7,127
Disaggregated sales by category	100.00%	100.00%	100.00%	100.00%
Digital Sales [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	61.00%	30.00%	57.00%	31.00%
Full-Price [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 1,066	$ 2,530	$ 2,423	$ 4,657
Off-Price [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 712	$ 1,248	$ 1,381	$ 2,470

Revenue (Percent Of Net Sales B

Revenue (Percent Of Net Sales By Merchandise Category Summary) (Details)	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	100.00%	100.00%	100.00%	100.00%
Women's Apparel [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	27.00%	32.00%	30.00%	32.00%
Shoes [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	27.00%	23.00%	26.00%	24.00%
Men's Apparel [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	12.00%	16.00%	11.00%	16.00%
Women's Accessories [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	15.00%	11.00%	14.00%	11.00%
Beauty [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	12.00%	11.00%	12.00%	11.00%
Kids' Apparel [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	4.00%	4.00%	4.00%	4.00%
Other [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	3.00%	3.00%	3.00%	2.00%

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Revenue from Contract with Customer [Abstract]
Revenue recognized from beginning contract liability balance	$ 71	$ 138	$ 175	$ 231

Debt And Credit Facilities (Nar

Debt And Credit Facilities (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended
	Aug. 01, 2020USD ($)	Aug. 01, 2020USD ($)	Aug. 03, 2019USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		$ 600	$ 0
Proceeds from revolving line of credit		$ 800	$ 0
Number of options to extend revolver	2	2
Commercial paper [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 800	$ 800
Borrowings not available at this time	0	0
Issuances or borrowings	0	$ 0
Senior Secured Notes 8.750% due May 2025, net of unamortized discount [Member]
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt	$ 600
Debt instrument interest rate	8.75%	8.75%
Revolver [Member]
Debt Instrument [Line Items]
Proceeds from revolving line of credit		$ 800
Debt covenant leverage ratio		4
Option to increase the maximum capacity of revolving credit facility	$ 200	$ 200
Maximum borrowing capacity	$ 1,000	$ 1,000

Fair Value Measurements (Summar

Fair Value Measurements (Summary Of Carrying Value And Fair Value Estimate Of Long-Term Debt) (Details) - USD ($) $ in Millions	Aug. 01, 2020	Feb. 01, 2020	Aug. 03, 2019
Fair Value Measurements, Long-term Debt [Line Items]
Carrying value of long-term debt	$ 3,266	$ 2,676	$ 2,678
Level 2 [Member]
Fair Value Measurements, Long-term Debt [Line Items]
Fair value of long-term debt	$ 2,922	$ 2,905	$ 2,782

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Aug. 01, 2020	Aug. 01, 2020	Aug. 03, 2019
Fair Value Disclosures [Abstract]
Impairment charges	$ 20	$ 137	$ 0

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details)	Aug. 01, 2020
Commitments and Contingencies Disclosure [Abstract]
Installment payments remaining	1
Estimated change in purchase obligations	30.00%

Shareholders' Equity (Summary o

Shareholders' Equity (Summary of Share Repurchase Activity) (Details) - 2018 Program [Member] - USD ($) shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Share Repurchase Program [Line Items]
Shares of common stock repurchased	0	4.1
Aggregate amount of common stock repurchased	$ 0	$ 186

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) $ in Millions	6 Months Ended
	Aug. 01, 2020USD ($)
Retained Earnings Adjustments [Line Items]
Remaining share repurchase capacity	$ 707
Revolver [Member]
Retained Earnings Adjustments [Line Items]
Debt covenant leverage ratio	4
2018 Program [Member]
Retained Earnings Adjustments [Line Items]
Share repurchase authorization	$ 1,500

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary Of Stock-Based Compensation Expense) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit		$ 20	$ 20	$ 33	$ 40
Income tax benefit		(8)	(5)	(13)	(10)
Total stock-based compensation expense, net of income tax benefit		12	15	20	30
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit		16	14	29	28
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit		2	3	4	7
Other [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit	[1]	$ 2	$ 3	$ 0	$ 5
[1]	Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards.

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary Of Grants) (Details) - $ / shares shares in Millions	6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	1.8	1
Weighted-average grant-date fair value per stock option (in dollars per share)	$ 7	$ 15
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	3.3	1.1
Weighted-average grant-date fair value per unit (in dollars per share)	$ 21	$ 41
PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	0.4	0.3
Weighted-average grant-date fair value per unit (in dollars per share)	$ 24	$ 42

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Share-based Payment Arrangement [Abstract]
Issuance of common stock under stock compensation plans (in shares)	0.1	0.3	1.6	1.4

Earnings Per Share (Computation

Earnings Per Share (Computation Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Earnings Per Share [Abstract]
Net (loss) earnings	$ (255)	$ 141	$ (776)	$ 177
Basic shares (in shares)	157.2	155	156.8	155
Dilutive effect of common stock equivalents (in shares)	0	0.6	0	0.9
Diluted shares (in shares)	157.2	155.6	156.8	155.9
(Loss) earnings per basic share (in dollars per share)	$ (1.62)	$ 0.91	$ (4.95)	$ 1.14
(Loss) earnings per diluted share (in dollars per share)	$ (1.62)	$ 0.90	$ (4.95)	$ 1.14
Anti-dilutive common stock equivalents (in shares)	14.4	11.5	13.7	10.4

Segment Reporting (Information

Segment Reporting (Information By Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2020	Aug. 03, 2019	Aug. 01, 2020	Aug. 03, 2019
Segment Reporting Information [Line Items]
(Loss) earnings before interest and income taxes	$ (370)	$ 216	$ (1,183)	$ 292
Interest expense, net	(51)	(23)	(85)	(46)
(Loss) earnings before income taxes	(421)	193	(1,268)	246
Retail [Member]
Segment Reporting Information [Line Items]
(Loss) earnings before interest and income taxes	(394)	272	(1,105)	414
Corporate/Other [Member]
Segment Reporting Information [Line Items]
(Loss) earnings before interest and income taxes	$ 24	$ (56)	$ (78)	$ (122)