Nordstrom (JWN) 10-Q 3 Dec 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 30, 2021	Nov. 26, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 30, 2021
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		159,313,408
Entity Central Index Key	0000072333
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--01-29

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Income Statement [Abstract]
Net sales	$ 3,534	$ 3,002	$ 10,020	$ 6,806
Credit card revenues, net	103	87	283	264
Total revenues	3,637	3,089	10,303	7,070
Cost of sales and related buying and occupancy costs	(2,294)	(2,019)	(6,646)	(5,235)
Selling, general and administrative expenses	(1,216)	(964)	(3,464)	(2,912)
Earnings (loss) before interest and income taxes	127	106	193	(1,077)
Interest expense, net	(36)	(48)	(213)	(133)
Earnings (loss) before income taxes	91	58	(20)	(1,210)
Income tax (expense) benefit	(27)	(5)	(2)	487
Net earnings (loss)	$ 64	$ 53	$ (22)	$ (723)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.40	$ 0.34	$ (0.14)	$ (4.60)
Diluted (in dollars per share)	$ 0.39	$ 0.34	$ (0.14)	$ (4.60)
Weighted-average shares outstanding:
Basic (in shares)	159.2	157.5	158.9	157
Diluted (in shares)	162.5	158.2	158.9	157

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net earnings (loss)	$ 64	$ 53	$ (22)	$ (723)
Foreign currency translation adjustment	1	1	7	(12)
Post retirement plan adjustments, net of tax	2	2	5	5
Comprehensive net earnings (loss)	$ 67	$ 56	$ (10)	$ (730)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Assets
Cash and cash equivalents	$ 267	$ 681	$ 889
Accounts receivable, net	273	245	256
Merchandise inventories	2,863	1,863	1,860
Prepaid expenses and other	374	853	902
Total current assets	3,777	3,642	3,907
Land, property and equipment (net of accumulated depreciation of $7,617, $7,159 and $6,987)	3,558	3,732	3,770
Operating lease right-of-use assets	1,527	1,581	1,611
Goodwill	249	249	249
Other assets	423	334	274
Total assets	9,534	9,538	9,811
Liabilities and Shareholders’ Equity
Borrowings under revolving line of credit	200	0	200
Accounts payable	2,310	1,960	2,053
Accrued salaries, wages and related benefits	276	352	254
Current portion of operating lease liabilities	240	260	269
Other current liabilities	1,063	1,048	1,119
Current portion of long-term debt	0	500	499
Total current liabilities	4,089	4,120	4,394
Long-term debt, net	2,851	2,769	2,767
Non-current operating lease liabilities	1,602	1,687	1,726
Other liabilities	633	657	672
Commitments and contingencies (Note 5)
Shareholders’ equity:
Common stock, no par value: 1,000 shares authorized; 159.3, 157.8 and 157.7 shares issued and outstanding	3,269	3,205	3,190
Accumulated deficit	(2,852)	(2,830)	(2,863)
Accumulated other comprehensive loss	(58)	(70)	(75)
Total shareholders’ equity	359	305	252
Total liabilities and shareholders’ equity	$ 9,534	$ 9,538	$ 9,811

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Assets
Accumulated depreciation	$ 7,617	$ 7,159	$ 6,987
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	159.3	157.8	157.7
Common stock, shares outstanding	159.3	157.8	157.7

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. 01, 2020		$ 3,129
Common stock
Issuance of common stock under stock compensation plans		16
Stock-based compensation		45
Common stock, balance, end of period at Oct. 31, 2020	$ 3,190	3,190
Accumulated deficit, balance, beginning of period at Feb. 01, 2020			$ (2,082)
Accumulated deficit
Net earnings (loss)	(723)		(723)
Dividends			(58)
Accumulated deficit, balance, end of period at Oct. 31, 2020	(2,863)		(2,863)
Accumulated other comprehensive loss, balance, beginning of period at Feb. 01, 2020				$ (68)
Accumulated other comprehensive loss
Other comprehensive income (loss)				(7)
Accumulated other comprehensive loss, balance, end of period at Oct. 31, 2020	(75)			(75)
Total shareholders’ equity at Oct. 31, 2020	$ 252
Accumulated other comprehensive loss
Dividends per share	$ 0.37
Common stock, balance, beginning of period at Aug. 01, 2020		3,168
Common stock
Issuance of common stock under stock compensation plans		5
Stock-based compensation		17
Common stock, balance, end of period at Oct. 31, 2020	$ 3,190	3,190
Accumulated deficit, balance, beginning of period at Aug. 01, 2020			(2,916)
Accumulated deficit
Net earnings (loss)	53		53
Dividends			0
Accumulated deficit, balance, end of period at Oct. 31, 2020	(2,863)		(2,863)
Accumulated other comprehensive loss, balance, beginning of period at Aug. 01, 2020				(78)
Accumulated other comprehensive loss
Other comprehensive income (loss)				3
Accumulated other comprehensive loss, balance, end of period at Oct. 31, 2020	(75)			(75)
Total shareholders’ equity at Oct. 31, 2020	$ 252
Accumulated other comprehensive loss
Dividends per share	$ 0
Common stock, balance, beginning of period at Jan. 30, 2021	$ 3,205	3,205
Common stock
Issuance of common stock under stock compensation plans		14
Stock-based compensation		50
Common stock, balance, end of period at Oct. 30, 2021	3,269	3,269
Accumulated deficit, balance, beginning of period at Jan. 30, 2021	(2,830)		(2,830)
Accumulated deficit
Net earnings (loss)	(22)		(22)
Dividends			0
Accumulated deficit, balance, end of period at Oct. 30, 2021	(2,852)		(2,852)
Accumulated other comprehensive loss, balance, beginning of period at Jan. 30, 2021	(70)			(70)
Accumulated other comprehensive loss
Other comprehensive income (loss)				12
Accumulated other comprehensive loss, balance, end of period at Oct. 30, 2021	(58)			(58)
Total shareholders’ equity at Oct. 30, 2021	$ 359
Accumulated other comprehensive loss
Dividends per share	$ 0
Common stock, balance, beginning of period at Jul. 31, 2021		3,245
Common stock
Issuance of common stock under stock compensation plans		7
Stock-based compensation		17
Common stock, balance, end of period at Oct. 30, 2021	$ 3,269	$ 3,269
Accumulated deficit, balance, beginning of period at Jul. 31, 2021			(2,916)
Accumulated deficit
Net earnings (loss)	64		64
Dividends			0
Accumulated deficit, balance, end of period at Oct. 30, 2021	(2,852)		$ (2,852)
Accumulated other comprehensive loss, balance, beginning of period at Jul. 31, 2021				(61)
Accumulated other comprehensive loss
Other comprehensive income (loss)				3
Accumulated other comprehensive loss, balance, end of period at Oct. 30, 2021	(58)			$ (58)
Total shareholders’ equity at Oct. 30, 2021	$ 359
Accumulated other comprehensive loss
Dividends per share	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Operating Activities
Net loss	$ (22)	$ (723)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization expenses	477	505
Asset impairment	0	137
Right-of-use asset amortization	130	126
Deferred income taxes, net	25	39
Stock-based compensation expense	64	50
Other, net	81	13
Change in operating assets and liabilities:
Accounts receivable	(27)	(57)
Merchandise inventories	(687)	175
Prepaid expenses and other assets	408	(641)
Accounts payable	90	409
Accrued salaries, wages and related benefits	(76)	(254)
Other current liabilities	15	(72)
Lease liabilities	(218)	(163)
Other liabilities	17	20
Net cash provided by (used in) operating activities	277	(436)
Investing Activities
Capital expenditures	(361)	(311)
Other, net	(17)	20
Net cash used in investing activities	(378)	(291)
Financing Activities
Proceeds from revolving line of credit	400	800
Payments on revolving line of credit	(200)	(600)
Proceeds from long-term borrowings	675	600
Principal payments on long-term borrowings	(1,100)	0
(Decrease) increase in cash book overdrafts	(4)	39
Cash dividends paid	0	(58)
Proceeds from issuances under stock compensation plans	14	16
Tax withholding on share-based awards	(15)	(8)
Make-whole premium payment and other, net	(85)	(16)
Net cash (used in) provided by financing activities	(315)	773
Effect of exchange rate changes on cash and cash equivalents	2	(10)
Net (decrease) increase in cash and cash equivalents	(414)	36
Cash and cash equivalents at beginning of period	681	853
Cash and cash equivalents at end of period	267	889
Cash (received) paid during the period for:
Income taxes, net	(486)	9
Interest, net of capitalized interest	$ 136	$ 107

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 30, 2021
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 2020 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 October 30, 2021 and October 31, 2020 are unaudited. The Condensed Consolidated Balance Sheet as of January 30, 2021 has been derived from the audited Consolidated Financial Statements included in our 2020 Annual Report. The interim Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and related footnote disclosures contained in our 2020 Annual Report. Seasonality Our business, like that of other retailers, is subject to seasonal fluctuations and cyclical trends in consumer spending. Our sales are typically higher in our second quarter, which usually includes our Anniversary Sale, and in the fourth quarter, due to the holidays. In 2021, approximately one week of the Anniversary Sale shifted into the third quarter. As a result of COVID-19 in 2020, the Anniversary Sale was moved to August, which fell entirely in our third quarter. Results for any one quarter may not be indicative of the results that may be achieved for a full fiscal year. We plan our merchandise receipts to coincide with expected sales trends and other supply chain factors. Historically, our merchandise purchases and receipts increase prior to the Anniversary Sale and in the fall as we prepare for the holiday shopping season from late November through December. In 2021, we accelerated holiday merchandise purchases into the third quarter in response to global supply chain and labor disruptions. Consistent with our seasonal fluctuations, our working capital requirements have historically increased during the months leading up to the Anniversary Sale and the holidays as we purchase inventory in anticipation of increased sales. Use of Estimates The preparation of financial statements in conformity with GAAP requires that we make estimates, judgments 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 revenue recognition, inventory valuation, long-lived asset recoverability and income taxes, all of which involve assumptions about future events. We may be unable to accurately predict the ongoing impact of COVID-19 going forward and as a result our estimates may change in the near term. Investments In July 2021, we acquired a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands through a strategic partnership with ASOS.com Ltd. We invest in certain debt and equity securities of private companies that align with our business and omni-channel strategies, which are recorded in other assets in the Condensed Consolidated Balance Sheets and investing other, net on the Condensed Consolidated Statements of Cash Flows. We hold a limited partnership interest in a corporate office building that is classified as held for sale, as we plan to sell our interest within one year. The carrying value of the interest is not material as of October 30, 2021. Land, Property and Equipment Our net non-cash investing activities primarily related to technology expenditures and resulted in a decrease to accounts payable of $35 in 2021. Long-Lived Assets In 2020, as we optimized our mix of physical and digital assets to align with longer-term customer trends, we closed 16 Nordstrom stores. In conjunction with these closures, we incurred non-cash impairment charges on long-lived tangible and ROU assets 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: October 31, 2020 Quarter Ended Nine Months Ended Long-lived asset impairment 1 $— $96 ROU asset impairment 1 — 41 Total asset impairment $— $137 1 As of October 31, 2020, the carrying value of the applicable long-lived and ROU assets after impairment was $13 and $3. These charges are primarily included in our Retail segment SG&A expense on the Condensed Consolidated Statement of Earnings. Income Taxes We recorded $43 and $544 in current taxes receivable as of October 30, 2021 and October 31, 2020, which is classified in prepaid expenses and other on the Condensed Consolidated Balance Sheets. In addition, we recorded $74 and $2 in noncurrent taxes receivable as of October 30, 2021 and October 31, 2020, which is classified in other assets on the Condensed Consolidated Balance Sheets. In the second quarter of 2021, we were refunded $492 of the current income taxes receivable associated with the loss carryback provision of the CARES Act, which is classified in prepaid expenses and other assets on the Condensed Consolidated Statement of Cash Flows. Severance In 2020, we recorded $88 of restructuring costs in connection with our regional and corporate reorganization, including $25 recorded in cost of sales and related buying and occupancy costs and $63 in SG&A on the Condensed Consolidated Statement of Earnings. Leases We incurred operating lease liabilities arising from lease agreements of $108 for the nine months ended October 30, 2021 and $55 for the nine months ended October 31, 2020. Reclassification We reclassified our fiscal 2020 Condensed Consolidated Statement of Cash Flows to conform with current period presentation. To adjust our net loss to reconcile to operating activity cash flows, we present depreciation and amortization separate from other, net, which includes the “make-whole ” premium in the first quarter of 2021 (see Note 3: Debt and Credit Facilities). Recent Accounting Pronouncements

Revenue

Revenue	9 Months Ended
	Oct. 30, 2021
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 1, 2020 $576 Balance as of May 2, 2020 489 Balance as of August 1, 2020 498 Balance as of October 31, 2020 478 Balance as of January 30, 2021 478 Balance as of May 1, 2021 436 Balance as of July 31, 2021 433 Balance as of October 30, 2021 417 Revenues recognized from our beginning contract liability balance were $106 and $212 for the quarter and nine months ended October 30, 2021 and $98 and $223 for the quarter and nine months ended October 31, 2020. Disaggregation of Revenue The following table summarizes our disaggregated net sales: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Nordstrom $2,343 $2,120 $6,614 $4,543 Nordstrom Rack 1,191 882 3,406 2,263 Total net sales $3,534 $3,002 $10,020 $6,806 Digital sales as a % of total net sales 40 % 54 % 42 % 56 % The following table summarizes the percent of net sales by merchandise category: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Women’s Apparel 29 % 31 % 30 % 30 % Shoes 26 % 26 % 25 % 26 % Men’s Apparel 14 % 10 % 14 % 11 % Women’s Accessories 12 % 13 % 13 % 13 % Beauty 12 % 13 % 11 % 13 % Kids’ Apparel 4 % 4 % 4 % 4 % Other 3 % 3 % 3 % 3 % Total net sales 100 % 100 % 100 % 100 %

Debt And Credit Facilities

Debt And Credit Facilities	9 Months Ended
	Oct. 30, 2021
Debt Disclosure [Abstract]
Debt And Credit Facilities	NOTE 3: DEBT AND CREDIT FACILITIES Debt A summary of our long-term debt is as follows: October 30, 2021 January 30, 2021 October 31, 2020 Long-term debt, net of unamortized discount: Senior notes, 4.00%, due October 2021 $— $500 $500 Senior notes, 2.30%, due April 2024 250 — — Secured Notes, 8.75%, due May 2025 — 600 600 Senior notes, 4.00%, due March 2027 349 349 349 Senior debentures, 6.95%, due March 2028 300 300 300 Senior notes, 4.375%, due April 2030 500 500 499 Senior notes, 4.25%, due August 2031 425 — — Senior notes, 7.00%, due January 2038 147 147 147 Senior notes, 5.00%, due January 2044 902 900 899 Deferred bond issue costs (22) (27) (28) Total long-term debt 2,851 3,269 3,266 Less: current portion — (500) (499) Total due beyond one year $2,851 $2,769 $2,767 During the first quarter of 2021, we issued $250 aggregate principal amount of 2.30% senior notes due April 2024 and $425 aggregate principal amount of 4.25% senior notes due August 2031. These notes are unsecured and can be redeemed at any time in whole or in part. The April 2024 notes can be redeemed at par starting in April 2022. With the net proceeds of these new notes, together with cash on hand, we retired our Secured Notes. We recorded $88 related to the redemption in interest expense, net, which primarily consisted of a one-time payment of $78 for a “make-whole” premium, and the write-off of unamortized balances associated with the debt discount and issuance costs. The “make-whole” premium payment was not included in cash paid during the period for interest, net of capitalized interest on the Condensed Consolidated Statement of Cash Flows. As a result of this redemption, our outstanding long-term debt is unsecured and all real estate is unencumbered. During the second quarter of 2021, we retired our 4.00% senior notes that were due October 2021 using cash on hand. Credit Facilities During the first quarter of 2021, we amended our Revolver. Under the Revolver, we are in a “Collateral Period” 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. In the Collateral Period, any outstanding 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. If our Leverage Ratio is less than or equal to four and our unsecured debt is rated at or above BBB- with a stable outlook at Standard & Poor’s and 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 October 30, 2021, we were in a Collateral Period as we did not meet or exceed our credit rating threshold. We were in compliance with all our Revolver covenants. Under our Revolver amendment, we created flexibility for dividends and share repurchases during the Collateral Period, provided no default or event of default exists as a result of such payments, the pro-forma Leverage Ratio as of the most recent fiscal quarter is less than 3.75, pro-forma liquidity at the date of such payment is at least $600, and the amount of such payments do not exceed the amount of the corresponding fiscal quarter of 2019. Additionally, the “make-whole” premium and unamortized deferred bond issuance costs related to the redemption of the Secured Notes is excluded from the Revolver amendment’s definition of interest expense. As of October 30, 2021, our Leverage Ratio w as greater t han 3.75, thus we did not meet the requirements under our Revolver amendment to pay dividends or repurchase shares. The Revolver expires in September 2023 and is classified in total current liabilities on the Condensed Consolidated Balance Sheets. In 2021, we borrowed $200 under our Revolver in the first quarter, which was fully repaid in the second quarter, and borrowed an additional $200 in the third quarter. As of October 30, 2021, we had $200 in borrowings outstanding under our Revolver. In November 2021, subsequent to quarter end, we completely repaid the outstanding balance on our Revolver. 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, and is available for working capital, capital expenditures and general corporate purposes. 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. Our $800 commercial paper 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. In addition, borrowings under our Revolver have the effect of reducing the available capacity of our commercial paper program by an amount equal to the amount outstanding. As of October 30, 2021, we had no issuances outstanding under our commercial paper program.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 30, 2021
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: October 30, 2021 January 30, 2021 October 31, 2020 Carrying value of long-term debt $2,851 $3,269 $3,266 Fair value of long-term debt 2,992 3,430 2,865 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. There were no material impairment charges for these assets for the nine months ended October 30, 2021. For more information regarding long-lived tangible and ROU asset impairment charges for the nine months ended October 31, 2020, see Note 1: Basis of Presentation.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 30, 2021
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 our store has opened, construction continues in the residential condominium units above the store. As of October 30, 2021, we have a fee interest in the retail condominium unit. In the third quarter of 2021, we paid the majority of our final installment payment based on the developer meeting final pre-established construction and development milestones.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Oct. 30, 2021
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 appropriate. We had $707 remaining in share repurchase capacity as of October 30, 2021. The actual timing, price, manner and amounts of future share repurchases, if any, will be subject to the discretion of the Board of Directors, contractual commitments, market and economic conditions and applicable SEC rules. Our Revolver contains negative covenants with respect to the payment of dividends and share repurchases. Under our Revolver amendment, we created flexibility for dividends and share repurchases, provided certain requirements are met (see Note 3: Debt and Credit Facilities).

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 30, 2021
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 Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 RSUs $12 $13 $41 $42 Stock options 5 4 19 8 Other 1 1 — 4 — Total stock-based compensation expense, before income tax benefit 18 17 64 50 Income tax benefit (5) (6) (17) (19) Total stock-based compensation expense, net of income tax benefit $13 $11 $47 $31 1 Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards. The following table summarizes our grant allocations: Nine Months Ended October 30, 2021 October 31, 2020 Granted Weighted-average grant-date fair value per unit Granted Weighted-average grant-date fair value per unit RSUs 1.7 $32 3.5 $20 Stock options 1.2 $13 3.9 $7 PSUs — — 0.4 $24 Under our deferred and stock-based compensation plan arrangements, we issued 0.4 and 1.6 shares of common stock during the quarter and nine months ended October 30, 2021 and 0.5 and 2.1 shares during the quarter and nine months ended October 31, 2020.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 8: EARNINGS PER SHARE The computation of EPS is as follows: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Net earnings (loss) $64 $53 ($22) ($723) Basic shares 159.2 157.5 158.9 157.0 Dilutive effect of common stock equivalents 3.3 0.7 — — Diluted shares 162.5 158.2 158.9 157.0 Earnings (loss) per basic share $0.40 $0.34 ($0.14) ($4.60) Earnings (loss) per diluted share $0.39 $0.34 ($0.14) ($4.60) Anti-dilutive common stock equivalents 7.5 14.4 11.6 14.2

Segment Reporting

Segment Reporting	9 Months Ended
	Oct. 30, 2021
Segment Reporting [Abstract]
Segment Reporting	NOTE 9: SEGMENT REPORTING The following table sets forth information for our reportable segment: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Retail segment EBIT $197 $121 $335 ($984) Corporate/Other EBIT (70) (15) (142) (93) Interest expense, net (36) (48) (213) (133) Earnings (loss) before income taxes $91 $58 ($20) ($1,210) For information about disaggregated revenues, see Note 2: Revenue.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Oct. 30, 2021
Basis of Presentation [Abstract]
Reclassification	Reclassification We reclassified our fiscal 2020 Condensed Consolidated Statement of Cash Flows to conform with current period presentation. To adjust our net loss to reconcile to operating activity cash flows, we present depreciation and amortization separate from other, net, which includes the “make-whole ” premium in the first quarter of 2021 (see Note 3: Debt and Credit Facilities).
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2020, the SEC adopted the final rule under SEC Release No. 33-10890, Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information, which eliminates the requirement for selected financial data, streamlines certain disclosures in MD&A and eliminates duplicative disclosures with the intention of simplifying reporting compliance. In the fourth quarter of 2020, we early adopted the amendments to provision 301, Selected Financial Data and provision 302, Supplementary Financial Information. In the first quarter of 2021, we adopted all remaining provisions of this final rule. The adoption of this final rule did not have a material effect on our Consolidated Financial Statements

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Oct. 30, 2021
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: October 31, 2020 Quarter Ended Nine Months Ended Long-lived asset impairment 1 $— $96 ROU asset impairment 1 — 41 Total asset impairment $— $137 1 As of October 31, 2020, the carrying value of the applicable long-lived and ROU assets after impairment was $13 and $3.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Oct. 30, 2021
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 1, 2020 $576 Balance as of May 2, 2020 489 Balance as of August 1, 2020 498 Balance as of October 31, 2020 478 Balance as of January 30, 2021 478 Balance as of May 1, 2021 436 Balance as of July 31, 2021 433 Balance as of October 30, 2021 417
Disaggregated Net Sales	The following table summarizes our disaggregated net sales: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Nordstrom $2,343 $2,120 $6,614 $4,543 Nordstrom Rack 1,191 882 3,406 2,263 Total net sales $3,534 $3,002 $10,020 $6,806 Digital sales as a % of total net sales 40 % 54 % 42 % 56 %
Percent Of Net Sales By Merchandise Category Summary	The following table summarizes the percent of net sales by merchandise category: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Women’s Apparel 29 % 31 % 30 % 30 % Shoes 26 % 26 % 25 % 26 % Men’s Apparel 14 % 10 % 14 % 11 % Women’s Accessories 12 % 13 % 13 % 13 % Beauty 12 % 13 % 11 % 13 % Kids’ Apparel 4 % 4 % 4 % 4 % Other 3 % 3 % 3 % 3 % Total net sales 100 % 100 % 100 % 100 %

Debt (Tables)

Debt (Tables)	9 Months Ended
	Oct. 30, 2021
Debt Disclosure [Abstract]
Summary Of Long-Term Debt	A summary of our long-term debt is as follows: October 30, 2021 January 30, 2021 October 31, 2020 Long-term debt, net of unamortized discount: Senior notes, 4.00%, due October 2021 $— $500 $500 Senior notes, 2.30%, due April 2024 250 — — Secured Notes, 8.75%, due May 2025 — 600 600 Senior notes, 4.00%, due March 2027 349 349 349 Senior debentures, 6.95%, due March 2028 300 300 300 Senior notes, 4.375%, due April 2030 500 500 499 Senior notes, 4.25%, due August 2031 425 — — Senior notes, 7.00%, due January 2038 147 147 147 Senior notes, 5.00%, due January 2044 902 900 899 Deferred bond issue costs (22) (27) (28) Total long-term debt 2,851 3,269 3,266 Less: current portion — (500) (499) Total due beyond one year $2,851 $2,769 $2,767

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 30, 2021
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: October 30, 2021 January 30, 2021 October 31, 2020 Carrying value of long-term debt $2,851 $3,269 $3,266 Fair value of long-term debt 2,992 3,430 2,865

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Summary Of Stock-Based Compensation Expense	The following table summarizes our stock-based compensation expense: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 RSUs $12 $13 $41 $42 Stock options 5 4 19 8 Other 1 1 — 4 — Total stock-based compensation expense, before income tax benefit 18 17 64 50 Income tax benefit (5) (6) (17) (19) Total stock-based compensation expense, net of income tax benefit $13 $11 $47 $31 1 Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards.
Summary Of Grants	The following table summarizes our grant allocations: Nine Months Ended October 30, 2021 October 31, 2020 Granted Weighted-average grant-date fair value per unit Granted Weighted-average grant-date fair value per unit RSUs 1.7 $32 3.5 $20 Stock options 1.2 $13 3.9 $7 PSUs — — 0.4 $24

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Oct. 30, 2021
Earnings Per Share [Abstract]
Computation Of Earnings Per Share	The computation of EPS is as follows: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Net earnings (loss) $64 $53 ($22) ($723) Basic shares 159.2 157.5 158.9 157.0 Dilutive effect of common stock equivalents 3.3 0.7 — — Diluted shares 162.5 158.2 158.9 157.0 Earnings (loss) per basic share $0.40 $0.34 ($0.14) ($4.60) Earnings (loss) per diluted share $0.39 $0.34 ($0.14) ($4.60) Anti-dilutive common stock equivalents 7.5 14.4 11.6 14.2

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Oct. 30, 2021
Segment Reporting [Abstract]
Information By Reportable Segment	The following table sets forth information for our reportable segment: Quarter Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Retail segment EBIT $197 $121 $335 ($984) Corporate/Other EBIT (70) (15) (142) (93) Interest expense, net (36) (48) (213) (133) Earnings (loss) before income taxes $91 $58 ($20) ($1,210)

Basis of Presentation (COVID-19

Basis of Presentation (COVID-19 Related Asset Impairment Charges) (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
		Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Property, Plant and Equipment [Line Items]
Long-lived asset impairment	[1]	$ 0		$ 96
ROU asset impairment	[1]	0		41
Total asset impairment		0	$ 0	137
Applicable long-lived assets [Member]
Property, Plant and Equipment [Line Items]
Carrying value of applicable assets after impairment		13		13
Applicable operating lease ROU assets [Member]
Property, Plant and Equipment [Line Items]
Carrying value of applicable assets after impairment		$ 3		$ 3
[1]	As of October 31, 2020, the carrying value of the applicable long-lived and ROU assets after impairment was $13 and $3.

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jul. 31, 2021USD ($)	Oct. 30, 2021USD ($)	Oct. 31, 2020USD ($)store
Basis Of Presentation [Line Items]
Non-cash investing activities related to technology expenditures and accounts payable		$ 35
Refund of current income taxes receivable associated with the loss carryback provision of the CARES Act	$ 492
Restructuring costs			$ 88
Operating lease liabilities arising from lease agreements		108	55
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
Prepaid Expenses and Other [Member]
Basis Of Presentation [Line Items]
Income taxes receivable		43	544
Other Assets [Member]
Basis Of Presentation [Line Items]
Income taxes receivable		$ 74	$ 2
Nordstrom US [Member]
Basis Of Presentation [Line Items]
Number of stores | store			16

Revenue (Summary Of Contract Li

Revenue (Summary Of Contract Liabilities) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021	Jan. 30, 2021	Oct. 31, 2020	Aug. 01, 2020	May 02, 2020	Feb. 01, 2020
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 417	$ 433	$ 436	$ 478	$ 478	$ 498	$ 489	$ 576

Revenue (Disaggregated Net Sale

Revenue (Disaggregated Net Sales) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 3,534	$ 3,002	$ 10,020	$ 6,806
Disaggregated sales by category	100.00%	100.00%	100.00%	100.00%
Digital Sales [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	40.00%	54.00%	42.00%	56.00%
Nordstrom [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 2,343	$ 2,120	$ 6,614	$ 4,543
Nordstrom Rack [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 1,191	$ 882	$ 3,406	$ 2,263

Revenue (Percent Of Net Sales B

Revenue (Percent Of Net Sales By Merchandise Category Summary) (Details)	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
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	29.00%	31.00%	30.00%	30.00%
Shoes [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	26.00%	26.00%	25.00%	26.00%
Men's Apparel [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	14.00%	10.00%	14.00%	11.00%
Women's Accessories [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	12.00%	13.00%	13.00%	13.00%
Beauty [Member]
Disaggregation of Revenue [Line Items]
Disaggregated sales by category	12.00%	13.00%	11.00%	13.00%
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%	3.00%

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized from beginning contract liability balance	$ 106	$ 98	$ 212	$ 223

Debt And Credit Facilities (Sum

Debt And Credit Facilities (Summary Of Long-Term Debt) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Debt Instrument [Line Items]
Long-term debt, net of unamortized discount	$ 2,851	$ 3,269	$ 3,266
Deferred bond issue costs	(22)	(27)	(28)
Less: current portion	0	(500)	(499)
Total due beyond one year	2,851	$ 2,769	$ 2,767
Senior notes, 4.00%, due October 2021 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate		4.00%	4.00%
Long-term debt, net of unamortized discount	$ 0	$ 500	$ 500
Senior notes, 2.30%, due April 2024 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	2.30%
Long-term debt, net of unamortized discount	$ 250	$ 0	$ 0
Secured Notes, 8.75%, due May 2025 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate		8.75%	8.75%
Long-term debt, net of unamortized discount	$ 0	$ 600	$ 600
Senior notes, 4.00%, due March 2027 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	4.00%	4.00%	4.00%
Long-term debt, net of unamortized discount	$ 349	$ 349	$ 349
Senior debentures, 6.95%, due March 2028 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	6.95%	6.95%	6.95%
Long-term debt, net of unamortized discount	$ 300	$ 300	$ 300
Senior notes, 4.375%, due April 2030 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	4.375%	4.375%	4.375%
Long-term debt, net of unamortized discount	$ 500	$ 500	$ 499
Senior notes, 4.25%, due August 2031 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	4.25%
Long-term debt, net of unamortized discount	$ 425	$ 0	$ 0
Senior notes, 7.00%, due January 2038 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	7.00%	7.00%	7.00%
Long-term debt, net of unamortized discount	$ 147	$ 147	$ 147
Senior notes, 5.00%, due January 2044 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	5.00%	5.00%	5.00%
Long-term debt, net of unamortized discount	$ 902	$ 900	$ 899

Debt And Credit Facilities (Nar

Debt And Credit Facilities (Narrative) (Details) $ in Millions	3 Months Ended			9 Months Ended
	Oct. 30, 2021USD ($)	May 01, 2021USD ($)	Oct. 31, 2020USD ($)	Oct. 30, 2021USD ($)	Oct. 31, 2020USD ($)	Jan. 30, 2021USD ($)
Debt Instrument [Line Items]
Proceeds from long-term borrowings				$ 675	$ 600
Interest expense, net	$ 36		$ 48	$ 213	133
Minimum leverage ratio for debt covenant to pay dividends or repurchase shares				3.75
Minimum liquidity for debt covenant amendment to pay dividends or repurchase shares				600
Proceeds from revolving line of credit				$ 400	800
Borrowings under revolving line of credit	$ 200		$ 200	$ 200	$ 200	$ 0
Number of options to extend revolver	2			2
Commercial paper [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 800			$ 800
Issuances or borrowings	$ 0			0
Senior notes, 2.30%, due April 2024 [Member]
Debt Instrument [Line Items]
Proceeds from long-term borrowings		$ 250		$ 250
Debt instrument interest rate	2.30%			2.30%
Senior notes, 4.25%, due August 2031 [Member]
Debt Instrument [Line Items]
Proceeds from long-term borrowings		425		$ 425
Debt instrument interest rate	4.25%			4.25%
2021 Refinancing
Debt Instrument [Line Items]
Interest expense, net		88		$ 88
One-time "make-whole" payment		78		$ 78
Senior notes, 4.00%, due October 2021 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate			4.00%		4.00%	4.00%
Revolver [Member]
Debt Instrument [Line Items]
Debt covenant leverage ratio				4
Proceeds from revolving line of credit	$ 200	$ 200
Borrowings under revolving line of credit	200			$ 200
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	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Fair Value Measurements, Long-term Debt [Line Items]
Carrying value of long-term debt	$ 2,851	$ 3,269	$ 3,266
Level 2 [Member]
Fair Value Measurements, Long-term Debt [Line Items]
Fair value of long-term debt	$ 2,992	$ 3,430	$ 2,865

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Impairment charges	$ 0	$ 0	$ 137

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) $ in Millions	Oct. 30, 2021USD ($)
Shareholders' Equity [Line Items]
Remaining share repurchase capacity	$ 707
2018 Program [Member]
Shareholders' Equity [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		9 Months Ended
		Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit		$ 18	$ 17	$ 64	$ 50
Income tax benefit		(5)	(6)	(17)	(19)
Total stock-based compensation expense, net of income tax benefit		13	11	47	31
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit		12	13	41	42
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit		5	4	19	8
Other [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, before income tax benefit	[1]	$ 1	$ 0	$ 4	$ 0
[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	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	1.2	3.9
Weighted-average grant-date fair value per stock option (in dollars per share)	$ 13	$ 7
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	1.7	3.5
Weighted-average grant-date fair value per unit (in dollars per share)	$ 32	$ 20
PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	0	0.4
Weighted-average grant-date fair value per unit (in dollars per share)	$ 0	$ 24

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Share-based Payment Arrangement [Abstract]
Issuance of common stock under stock compensation plans (in shares)	0.4	0.5	1.6	2.1

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		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Earnings Per Share [Abstract]
Net earnings (loss)	$ 64	$ 53	$ (22)	$ (723)
Basic shares (in shares)	159.2	157.5	158.9	157
Dilutive effect of common stock equivalents (in shares)	3.3	0.7	0	0
Diluted shares (in shares)	162.5	158.2	158.9	157
Earnings (loss) per basic share (in dollars per share)	$ 0.40	$ 0.34	$ (0.14)	$ (4.60)
Earnings (loss) per diluted share (in dollars per share)	$ 0.39	$ 0.34	$ (0.14)	$ (4.60)
Anti-dilutive common stock equivalents (in shares)	7.5	14.4	11.6	14.2

Segment Reporting (Information

Segment Reporting (Information By Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Segment Reporting Information [Line Items]
Earnings (loss) before interest and income taxes	$ 127	$ 106	$ 193	$ (1,077)
Interest expense, net	(36)	(48)	(213)	(133)
Earnings (loss) before income taxes	91	58	(20)	(1,210)
Retail [Member]
Segment Reporting Information [Line Items]
Earnings (loss) before interest and income taxes	197	121	335	(984)
Corporate/Other [Member]
Segment Reporting Information [Line Items]
Earnings (loss) before interest and income taxes	$ (70)	$ (15)	$ (142)	$ (93)