Kohl's (KSS) 10-Q 5 Sep 24 2025 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Aug. 03, 2024	Aug. 30, 2024
Document Information [Line Items]
Entity Registrant Name	KOHL’S CORP
Entity Central Index Key	0000885639
Current Fiscal Year End Date	--01-27
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Aug. 03, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		111,238,455
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1630919
Entity File Number	1-11084
Entity Address, Address Line One	N56 W17000 Ridgewood Drive
Entity Address, City or Town	Menomonee Falls
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53051
City Area Code	262
Local Phone Number	703-7000
Title of each class	Common Stock, $.01 par value
Trading Symbol(s)	KSS
Name of each exchange on which registered	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Current assets:
Cash and cash equivalents	$ 231	$ 183	$ 204
Merchandise inventories	3,151	2,880	3,474
Other	331	347	296
Total current assets	3,713	3,410	3,974
Property and equipment, net	7,502	7,720	7,945
Operating leases	2,507	2,499	2,493
Other assets	458	380	382
Total assets	14,180	14,009	14,794
Current liabilities:
Accounts payable	1,317	1,134	1,376
Accrued liabilities	1,185	1,201	1,246
Borrowings under revolving credit facility	410	92	560
Current portion of:
Long-term debt	353		111
Finance leases and financing obligations	81	83	84
Operating leases	92	102	93
Total current liabilities	3,438	2,612	3,470
Long-term debt	1,173	1,638	1,637
Finance leases and financing obligations	2,574	2,680	2,730
Operating leases	2,795	2,781	2,777
Deferred income taxes	95	107	121
Other long-term liabilities	275	298	324
Shareholders’ equity:
Common stock	2	2	2
Paid-in capital	3,546	3,528	3,502
Treasury stock, at cost	(2,579)	(2,571)	(2,569)
Retained earnings	2,861	2,934	2,800
Total shareholders’ equity	3,830	3,893	3,735
Total liabilities and shareholders’ equity	$ 14,180	$ 14,009	$ 14,794

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Total revenue	$ 3,732	$ 3,895	$ 7,114	$ 7,466
Cost of merchandise sold	2,128	2,242	4,051	4,289
Operating expenses:
Selling, general, and administrative	1,250	1,304	2,478	2,542
Depreciation and amortization	188	186	376	374
Operating income	166	163	209	261
Interest expense, net	86	89	169	173
Income before income taxes	80	74	40	88
Provision for income taxes	14	16	1	16
Net income	$ 66	$ 58	$ 39	$ 72
Net (loss) income per share:
Basic	$ 0.59	$ 0.52	$ 0.35	$ 0.65
Diluted	$ 0.59	$ 0.52	$ 0.35	$ 0.65
Net Sales [Member]
Total revenue	$ 3,525	$ 3,678	$ 6,703	$ 7,033
Other Revenue [Member]
Total revenue	$ 207	$ 217	$ 411	$ 433

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock [Member]	Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]
Balance, beginning of period at Jan. 28, 2023		$ 4	$ 3,479	$ (13,715)	$ 13,995
Retirement of treasury stock		(2)			(11,155)
Stock-based awards			23	(13)
Net Income (Loss)	$ 72				72
Dividends paid				2	(112)
Balance, end of period at Jul. 29, 2023	$ 3,735	$ 2	3,502	$ (2,569)	2,800
Shares, beginning of period at Jan. 28, 2023		378		(267)
Retirement of treasury stock		(217)		217
Shares, end of period at Jul. 29, 2023	111	161		(50)
Dividends paid per common share	$ 1
Balance, beginning of period at Apr. 29, 2023		$ 2	3,489	$ (2,569)	2,798
Retirement of treasury stock				11,157
Stock-based awards			13	(1)
Net Income (Loss)	$ 58				58
Dividends paid				1	(56)
Balance, end of period at Jul. 29, 2023	$ 3,735	$ 2	3,502	$ (2,569)	2,800
Shares, beginning of period at Apr. 29, 2023		161		(50)
Shares, end of period at Jul. 29, 2023	111	161		(50)
Dividends paid per common share	$ 0.5
Balance, beginning of period at Feb. 03, 2024	$ 3,893	$ 2	3,528	$ (2,571)	2,934
Stock-based awards			18	(9)
Net Income (Loss)	39				39
Dividends paid				1	(112)
Balance, end of period at Aug. 03, 2024	$ 3,830	$ 2	3,546	$ (2,579)	2,861
Shares, beginning of period at Feb. 03, 2024		161		(50)
Shares, end of period at Aug. 03, 2024	111	161		(50)
Dividends paid per common share	$ 1
Balance, beginning of period at May. 04, 2024		$ 2	3,539	$ (2,579)	2,851
Stock-based awards			7
Net Income (Loss)	$ 66				66
Dividends paid					(56)
Balance, end of period at Aug. 03, 2024	$ 3,830	$ 2	$ 3,546	$ (2,579)	$ 2,861
Shares, beginning of period at May. 04, 2024		161		(50)
Shares, end of period at Aug. 03, 2024	111	161		(50)
Dividends paid per common share	$ 0.5

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023
Operating activities
Net income	$ 39	$ 72
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	376	374
Share-based compensation	16	20
Deferred income taxes	(15)	(7)
Non-cash lease expense	44	48
Other non-cash items	11	(2)
Changes in operating assets and liabilities:
Merchandise inventories	(269)	(283)
Other current and long-term assets	(59)	61
Accounts payable	183	46
Accrued and other long-term liabilities	(25)	(52)
Operating lease liabilities	(54)	(49)
Net cash provided by operating activities	247	228
Investing activities
Acquisition of property and equipment	(239)	(338)
Proceeds from sale of real estate		4
Other	2	(1)
Net cash used in investing activities	(237)	(335)
Financing activities
Net borrowings under revolving credit facility	318	475
Shares withheld for taxes on vested restricted shares	(9)	(13)
Dividends paid	(111)	(110)
Repayment of long-term borrowings	(113)	(164)
Premium paid on redemption of debt	(5)
Finance lease and financing obligation payments	(42)	(47)
Proceeds from financing obligations		17
Net cash provided by financing activities	38	158
Net increase in cash and cash equivalents	48	51
Cash and cash equivalents at beginning of period	183	153
Cash and cash equivalents at end of period	231	204
Supplemental information
Interest paid, net of capitalized interest	163	169
Income taxes paid	44	6
Property and equipment acquired (disposed) through exchange of:
Finance lease liabilities	(70)	(26)
Operating lease liabilities	$ 60	$ 222

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 66	$ 58	$ 39	$ 72

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Aug. 03, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Except as noted below, during the three months ended August 3, 2024 , no director or Section 16 officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K. On May 31, 2024 , Siobhán Mc Feeney , Senior Executive Vice President, Chief Technology and Digital Officer , adopted a Rule 10b5-1 Trading Plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (the “Plan”) relating to the sale of up to 44,267 shares of the Company’s common stock. Sales under the Plan may commence on October 3, 2024. The Plan will expire on December 1, 2025.
Director Or Section 16 Officer [Member]
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Senior Executive Vice President, Chief Technology and Digital Officer [Member]
Trading Arrangements, by Individual
Name	Siobhán Mc Feeney
Title	Senior Executive Vice President, Chief Technology and Digital Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 31, 2024
Aggregate Available	44,267

Basis of Presentation

Basis of Presentation	6 Months Ended
	Aug. 03, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for fiscal year end Consolidated Financial Statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information, refer to the Consolidated Financial Statements and related footnotes included in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024 (Commission File No. 1-11084) as filed with the Securities and Exchange Commission ("SEC"). Due to the seasonality of the business of Kohl’s Corporation (the “Company,” “Kohl’s,” “we,” “our,” or “us”), results for any quarter are not necessarily indicative of the results that may be achieved for a full fiscal year. We operate as a single business unit. Recent Accounting Pronouncements Accounting Standards Issued and Adopted There are no recently adopted accounting pronouncements that had a material impact on our financial statements. Accounting Standards Issued but not yet Effective Standard Description Effect on our Financial Statements Segment Reporting (ASU 2023-07) Issued November 2023 Effective for Fiscal Years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures around significant segment expenses. We are evaluating the impact of the new required disclosures on our financial statements but do not expect the effect of the adoption to be material. Income Taxes (ASU 2023-09) Issued December 2023 Effective for Fiscal Years beginning after December 15, 2024 The ASU requires entities to provide additional information in the rate reconciliation table and additional disclosures around income taxes paid. We are evaluating the impact of the new required disclosures on our financial statements but do not expect the effect of the adoption to be material.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Aug. 03, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	2. Revenue Recognition The following table summarizes Net sales by line of business: Three Months Ended Six Months Ended (Dollars in Millions) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Women's $ 1,004 $ 1,099 $ 1,927 $ 2,087 Men's 740 809 1,340 1,504 Accessories (including Sephora) 666 571 1,284 1,083 Home 436 462 828 895 Children's 359 387 703 790 Footwear 320 350 621 674 Net Sales $ 3,525 $ 3,678 $ 6,703 $ 7,033 Unredeemed gift cards and merchandise return card liabilities totaled $ 270 million as of August 3, 2024 , $ 327 million as of February 3, 2024 , and $ 292 million as of July 29, 2023 . In the second quarter of 2024 and 2023, net sales of $ 31 million and $ 36 million, respectively, were recognized from gift cards redeemed in the current period and issued in prior years. Year to date 2024 and 2023, net sales of $ 88 million and $ 104 million, respectively, were recognized during the current period from gift cards redeemed during the current year and issued in prior years.

Debt

Debt	6 Months Ended
	Aug. 03, 2024
Debt Disclosure [Abstract]
Debt	3. Debt Outstanding borrowings under the revolving credit facility, recorded as short-term debt, were $ 410 million as of August 3, 2024 , $ 92 million as of February 3, 2024 , and $ 560 million as of July 29, 2023. Long-term debt, which excludes borrowings on the revolving credit facility, consists of the following unsecured debt: Outstanding Maturity (Dollars in Millions) Effective Rate at Issuance Coupon Rate August 3, 2024 February 3, 2024 July 29, 2023 2023 4.78 % 4.75 % $— $— $ 111 2025 9.50 % 10.75 % — 113 113 2025 4.25 % 4.25 % 353 353 353 2029 7.36 % 7.25 % 42 42 42 2031 3.40 % 4.63 % 500 500 500 2033 6.05 % 6.00 % 112 112 112 2037 6.89 % 6.88 % 101 101 101 2045 5.57 % 5.55 % 427 427 427 Outstanding unsecured senior debt 1,535 1,648 1,759 Unamortized debt discounts and deferred financing costs ( 9 ) ( 10 ) ( 11 ) Current portion of unsecured senior debt ( 353 ) — ( 111 ) Long-term unsecured senior debt $ 1,173 $ 1,638 $ 1,637 Effective interest rate at issuance 4.73 % 5.06 % 5.04 % Our estimated fair value of unsecured senior long-term debt is determined using Level 1 inputs, using financial instruments with unadjusted, quoted prices listed on active market exchanges. The estimated fair value of our unsecured senior debt was $ 1.2 billion at August 3, 2024 , $ 1.3 billion at February 3, 2024 , and $ 1.4 billion at July 29, 2023. In June 2024, we completed a voluntary redemption of the remaining $ 113 million of outstanding 9.50 % notes due May 15, 2025 . We recognized a $ 5 million loss on extinguishment of debt in net interest expense during the second quarter of 2024, which is primarily a bond tender premium paid to holders as a result of the redemption. Our various debt agreements contain covenants including limitations on additional indebtedness and certain financial tests. As of August 3, 2024 , we were in compliance with all covenants of the various debt agreements.

Stock-Based Awards

Stock-Based Awards	6 Months Ended
	Aug. 03, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Awards	4. Stock-Based Awards The following table summarizes our stock-based awards activity for the six months ended August 3, 2024: Nonvested Restricted Stock Awards and Units Performance Share Units (Shares and Units in Thousands) Shares Weighted Units Weighted Balance - February 3, 2024 3,099 $ 29.66 777 $ 31.26 Granted 1,510 26.26 652 29.33 Vested ( 1,024 ) 30.40 ( 38 ) 74.68 Forfeited ( 91 ) 30.58 — — Balance - August 3, 2024 3,494 $ 27.95 1,391 $ 29.17 In 2019, we issued 1,747,441 stock warrants. All 1,747,441 shares were vested and unexercised as of August 3, 2024 .

Contingencies

Contingencies	6 Months Ended
	Aug. 03, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	5. Contingencies Note 7, Contingencies, of the Notes to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024, contains a description of an ongoing legal proceeding, as to which there have been no material developments as of August 3, 2024. On May 16, 2024, David Kelley, an alleged shareholder of the Company, filed a shareholder derivative lawsuit in the U.S. District Court for the Eastern District of Wisconsin purportedly on behalf of the Company and against current and former members of the Board of Directors of the Company as Defendants, and the Company as Nominal Defendant. Kelley v. Boneparth, No. 2:24-cv-00604-LA (E.D. Wis.). The plaintiff asserts claims for breach of fiduciary duty and unjust enrichment and seeks declaratory and injunctive relief, compensatory damages, restitution, fees, and costs. The complaint makes similar allegations to the shareholder class action described in Note 7, Contingencies, of the Notes to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024. In particular, the complaint alleges that the Defendants breached their fiduciary duties to the Company and were unjustly enriched by causing or allowing the Company to disseminate allegedly false or misleading statements regarding (1) the conception, execution, and outcomes of the Company’s strategic plan announced on October 20, 2020, (2) the Company’s internal controls over financial reporting, disclosure controls, and corporate governance mechanisms, and (3) the Company’s consideration of acquisition offers. Defendants deny the allegations in the complaint and intend to vigorously defend against them. Pursuant to the parties’ stipulation, the Court has stayed the case pending, among other things, the resolution of the motion to dismiss filed by the Company in the abovementioned similar shareholder class action. Due to the early stages of this matter, the Company is unable to estimate a reasonably possible range of loss, if any, that may result from this matter. In addition to what is noted above, we are subject to certain legal proceedings and claims arising out of the ordinary conduct of our business. In the opinion of management, the outcome of these proceedings and claims will not have a material adverse effect on our Consolidated Financial Statements.

Income Taxes

Income Taxes	6 Months Ended
	Aug. 03, 2024
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The effective income tax rate for the second quarter of 2024 was 17.8 % compared to 21.7 % for the second quarter of 2023. Year to date, the rate is 3.4 % and 18.8 % for 2024 and 2023, respectively. The year to date rates include the recognition of favorable discrete items in the first half of the year in both periods.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Aug. 03, 2024
Earnings Per Share [Abstract]
Net Income Per Share	7. Net Income Per Share Basic net income per share is net income divided by the average number of common shares outstanding during the period. Diluted net income per share includes incremental shares assumed for share-based awards and stock warrants. The potentially dilutive shares outstanding during the period include unvested restricted stock units, unvested restricted stock awards, and warrants, which utilize the treasury stock method, as well as unvested performance share units that utilize the contingently issuable share method. Potentially dilutive shares are excluded from the computations of diluted earnings per share if their effect would be anti-dilutive. The information required to compute basic and diluted net income per share is as follows: Three Months Ended Six Months Ended (Dollars and Shares in Millions, Except per Share Data) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Numerator—Net income $ 66 $ 58 $ 39 $ 72 Denominator—Weighted-average shares: Basic 111 110 111 110 Dilutive impact 1 1 1 1 Diluted 112 111 112 111 Net income per share: Basic $ 0.59 $ 0.52 $ 0.35 $ 0.65 Diluted $ 0.59 $ 0.52 $ 0.35 $ 0.65 The following potential shares of common stock were excluded from the diluted net income per share calculation because their effect would have been anti-dilutive: Three Months Ended Six Months Ended (Shares in Millions) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Anti-dilutive shares 4 3 4 3

Subsequent Events

Subsequent Events	6 Months Ended
	Aug. 03, 2024
Subsequent Events [Abstract]
Subsequent Events	8. Subsequent Events On August 13, 2024 , the Board of Directors of Kohl's Corporation declared a quarterly cash dividend of $ 0.50 per share. The dividend will be paid on September 25, 2024 , to all shareholders of record at the close of business on September 11, 2024 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Aug. 03, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Issued and Adopted There are no recently adopted accounting pronouncements that had a material impact on our financial statements. Accounting Standards Issued but not yet Effective Standard Description Effect on our Financial Statements Segment Reporting (ASU 2023-07) Issued November 2023 Effective for Fiscal Years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures around significant segment expenses. We are evaluating the impact of the new required disclosures on our financial statements but do not expect the effect of the adoption to be material. Income Taxes (ASU 2023-09) Issued December 2023 Effective for Fiscal Years beginning after December 15, 2024 The ASU requires entities to provide additional information in the rate reconciliation table and additional disclosures around income taxes paid. We are evaluating the impact of the new required disclosures on our financial statements but do not expect the effect of the adoption to be material.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Aug. 03, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Net Sales by Line of Business	The following table summarizes Net sales by line of business: Three Months Ended Six Months Ended (Dollars in Millions) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Women's $ 1,004 $ 1,099 $ 1,927 $ 2,087 Men's 740 809 1,340 1,504 Accessories (including Sephora) 666 571 1,284 1,083 Home 436 462 828 895 Children's 359 387 703 790 Footwear 320 350 621 674 Net Sales $ 3,525 $ 3,678 $ 6,703 $ 7,033

Debt (Tables)

Debt (Tables)	6 Months Ended
	Aug. 03, 2024
Debt Disclosure [Abstract]
Components of Long-term Debt	Long-term debt, which excludes borrowings on the revolving credit facility, consists of the following unsecured debt: Outstanding Maturity (Dollars in Millions) Effective Rate at Issuance Coupon Rate August 3, 2024 February 3, 2024 July 29, 2023 2023 4.78 % 4.75 % $— $— $ 111 2025 9.50 % 10.75 % — 113 113 2025 4.25 % 4.25 % 353 353 353 2029 7.36 % 7.25 % 42 42 42 2031 3.40 % 4.63 % 500 500 500 2033 6.05 % 6.00 % 112 112 112 2037 6.89 % 6.88 % 101 101 101 2045 5.57 % 5.55 % 427 427 427 Outstanding unsecured senior debt 1,535 1,648 1,759 Unamortized debt discounts and deferred financing costs ( 9 ) ( 10 ) ( 11 ) Current portion of unsecured senior debt ( 353 ) — ( 111 ) Long-term unsecured senior debt $ 1,173 $ 1,638 $ 1,637 Effective interest rate at issuance 4.73 % 5.06 % 5.04 %

Stock-Based Awards (Tables)

Stock-Based Awards (Tables)	6 Months Ended
	Aug. 03, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock-Based Awards Activity	The following table summarizes our stock-based awards activity for the six months ended August 3, 2024: Nonvested Restricted Stock Awards and Units Performance Share Units (Shares and Units in Thousands) Shares Weighted Units Weighted Balance - February 3, 2024 3,099 $ 29.66 777 $ 31.26 Granted 1,510 26.26 652 29.33 Vested ( 1,024 ) 30.40 ( 38 ) 74.68 Forfeited ( 91 ) 30.58 — — Balance - August 3, 2024 3,494 $ 27.95 1,391 $ 29.17

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Aug. 03, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	The information required to compute basic and diluted net income per share is as follows: Three Months Ended Six Months Ended (Dollars and Shares in Millions, Except per Share Data) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Numerator—Net income $ 66 $ 58 $ 39 $ 72 Denominator—Weighted-average shares: Basic 111 110 111 110 Dilutive impact 1 1 1 1 Diluted 112 111 112 111 Net income per share: Basic $ 0.59 $ 0.52 $ 0.35 $ 0.65 Diluted $ 0.59 $ 0.52 $ 0.35 $ 0.65
Schedule of Potential Shares of Common Stock Excluded From the Diluted Net Income Per Share	The following potential shares of common stock were excluded from the diluted net income per share calculation because their effect would have been anti-dilutive: Three Months Ended Six Months Ended (Shares in Millions) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Anti-dilutive shares 4 3 4 3

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Net Sales by Line of Business (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Disaggregation Of Revenue [Line Items]
Total revenue	$ 3,732	$ 3,895	$ 7,114	$ 7,466
Net Sales [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,525	3,678	6,703	7,033
Net Sales [Member] | Women's [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,004	1,099	1,927	2,087
Net Sales [Member] | Men's [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	740	809	1,340	1,504
Net Sales [Member] | Accessories (including Sephora) [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	666	571	1,284	1,083
Net Sales [Member] | Home [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	436	462	828	895
Net Sales [Member] | Children's [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	359	387	703	790
Net Sales [Member] | Footwear [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 320	$ 350	$ 621	$ 674

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023	Feb. 03, 2024
Disaggregation Of Revenue [Line Items]
Rewards Program unredeemed gift cards and merchandise return cards liabilities	$ 270	$ 292	$ 270	$ 292	$ 327
Revenue from Sale	3,732	3,895	7,114	7,466
Gift Card [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Sale	$ 31	$ 36	$ 88	$ 104

Debt - Components of Long-term

Debt - Components of Long-term Debt (Details) - USD ($) $ in Millions	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Debt Instrument [Line Items]
Effective interest rate at issuance	4.73%	5.06%	5.04%
Outstanding	$ 1,535	$ 1,648	$ 1,759
Unamortized debt discounts and deferred financing costs	(9)	(10)	(11)
Current portion of unsecured senior debt	(353)		(111)
Long-term unsecured senior debt	$ 1,173	1,638	1,637
Senior Notes [Member] | Senior Notes 4.78% Due 2023 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	4.78%
Coupon rate	4.75%
Outstanding			111
Senior Notes [Member] | Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	9.50%
Coupon rate	10.75%
Outstanding		113	113
Senior Notes [Member] | Senior Notes 4.25% Due 2025 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	4.25%
Coupon rate	4.25%
Outstanding	$ 353	353	353
Senior Notes [Member] | Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	7.36%
Coupon rate	7.25%
Outstanding	$ 42	42	42
Senior Notes [Member] | Senior Notes Due 2031 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	3.40%
Coupon rate	4.63%
Outstanding	$ 500	500	500
Senior Notes [Member] | Senior Notes Due 2033 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	6.05%
Coupon rate	6%
Outstanding	$ 112	112	112
Senior Notes [Member] | Senior Notes Due 2037 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	6.89%
Coupon rate	6.88%
Outstanding	$ 101	101	101
Senior Notes [Member] | Senior Notes Due 2045 [Member]
Debt Instrument [Line Items]
Effective interest rate at issuance	5.57%
Coupon rate	5.55%
Outstanding	$ 427	$ 427	$ 427

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended
	Jun. 30, 2024	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023	Apr. 29, 2023
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Short-term debt, outstanding		$ 410	$ 92	$ 560
Unsecured Senior Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value		$ 1,200	$ 1,300		$ 1,400
Senior Notes [Member] | Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Interest rate on notes		10.75%
Senior Notes [Member] | 9.50% Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Redemption of remaining outstanding notes	$ 113
Interest rate on notes	9.50%
Debt instrument maturity date	May 15, 2025
Loss on extinguishment of debt		$ 5

Stock-Based Awards - Summary of

Stock-Based Awards - Summary of Stock-Based Awards Activity (Details) shares in Thousands	6 Months Ended
	Aug. 03, 2024 $ / shares shares
Nonvested Restricted Stock Awards and Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Awards/ Share Units, Beginning Balance | shares	3,099
Stock Awards/ Share Units, Granted | shares	1,510
Stock Awards/ Share Units, Vested | shares	(1,024)
Stock Awards/ Share Units, Forfeited | shares	(91)
Stock Awards/ Share Units, Ending Balance | shares	3,494
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 29.66
Stock Awards/ Share Units, Awards/Units, Weighted Average Grant Date Fair Value, Granted | $ / shares	26.26
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Vested | $ / shares	30.4
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Forfeited | $ / shares	30.58
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 27.95
Performance Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Awards/ Share Units, Beginning Balance | shares	777
Stock Awards/ Share Units, Granted | shares	652
Stock Awards/ Share Units, Vested | shares	(38)
Stock Awards/ Share Units, Forfeited | shares	0
Stock Awards/ Share Units, Ending Balance | shares	1,391
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 31.26
Stock Awards/ Share Units, Awards/Units, Weighted Average Grant Date Fair Value, Granted | $ / shares	29.33
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Vested | $ / shares	74.68
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Forfeited | $ / shares	0
Stock Awards/ Share Units, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 29.17

Stock-Based Awards - Additional

Stock-Based Awards - Additional Information (Details) - shares	Feb. 03, 2024	Feb. 01, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock warrants, issued		1,747,441
Vested and unexercised	1,747,441

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	17.80%	21.70%	3.40%	18.80%

Net Income Per Share - Computat

Net Income Per Share - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Earnings Per Share [Abstract]
Numerator---Net Income	$ 66	$ 58	$ 39	$ 72
Denominator—Weighted-average shares: Basic	111	110	111	110
Dilutive impact	1	1	1	1
Weighted average shares, Diluted	112	111	112	111
Basic	$ 0.59	$ 0.52	$ 0.35	$ 0.65
Diluted	$ 0.59	$ 0.52	$ 0.35	$ 0.65

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Potential Shares of Common Stock Excluded From the Diluted Net Income Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Earnings Per Share [Abstract]
Anti-dilutive shares	4	3	4	3

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event [Member]	Aug. 13, 2024 $ / shares
Subsequent Event [Line Items]
Cash dividend per share	$ 0.5
O2024 Q3 Cash Dividends [Member]
Subsequent Event [Line Items]
Cash dividend, declared date	Aug. 13, 2024
Cash dividend to be paid date	Sep. 25, 2024
Cash dividend, record date	Sep. 11, 2024