20230930-DK-Butterfly-1 (BBBYQ) 10-Q 11 Jul 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	3 Months Ended
	Jun. 01, 2019shares
Document And Entity Information
Entity Registrant Name	BED BATH & BEYOND INC
Entity Central Index Key	0000886158
Current Fiscal Year End Date	--02-29
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding	127,773,766
Document Type	10-Q
Document Period End Date	Jun. 1, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 02, 2019
Current assets:
Cash and cash equivalents	$ 700,389	$ 508,971
Short term investment securities	201,664	485,799
Merchandise inventories	2,540,852	2,618,922
Prepaid expenses and other current assets	254,187	296,280
Total current assets	3,697,092	3,909,972
Long term investment securities	20,677	20,010
Property and equipment, net	1,822,679	1,853,091
Operating lease assets	1,990,963
Goodwill	0	391,052
Other assets	456,784	396,416
Total assets	7,988,195	6,570,541
Current liabilities:
Accounts payable	1,066,282	1,094,078
Accrued expenses and other current liabilities	590,087	623,734
Merchandise credit and gift card liabilities	343,087	339,322
Current operating lease liabilities	410,417
Current income taxes payable	21,209	20,498
Total current liabilities	2,431,082	2,077,632
Other liabilities	184,242	395,409
Income taxes payable	47,745	49,235
Operating lease liabilities	1,775,081
Long term debt	1,488,051	1,487,934
Total liabilities	5,926,201	4,010,210
Shareholders' equity:
Preferred stock - $0.01 par value; authorized - 1,000 shares; no shares issued or outstanding	0	0
Common stock - $0.01 par value; authorized - 900,000 shares; issued 343,419 and 342,582, respectively; outstanding 127,774 and 132,233 shares, respectively	3,434	3,426
Additional paid-in capital	2,138,362	2,118,673
Retained earnings	10,679,515	11,112,887
Treasury stock, at cost; 215,645 and 210,349 shares, respectively	(10,697,540)	(10,616,045)
Accumulated other comprehensive loss	(61,777)	(58,610)
Total shareholders' equity	2,061,994	2,560,331
Total liabilities and shareholders' equity	$ 7,988,195	$ 6,570,541

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Jun. 01, 2019	Mar. 02, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000	1,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	900,000	900,000
Common stock, shares issued (in shares)	343,419	342,582
Common stock, shares outstanding (in shares)	127,774	132,233
Treasury stock, shares (in shares)	215,645	210,349

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Income Statement [Abstract]
Net sales	$ 2,572,989	$ 2,753,667
Cost of sales	1,685,810	1,788,819
Gross profit	887,179	964,848
Selling, general and administrative expenses	892,754	883,619
Goodwill and other impairments	401,267	0
Operating (loss) profit	(406,842)	81,229
Interest expense, net	15,898	16,732
(Loss) earnings before provision for income taxes	(422,740)	64,497
(Benefit) provision for income taxes	(51,655)	20,921
Net (loss) earnings	$ (371,085)	$ 43,576
Net (loss) earnings per share - Basic (in dollars per share)	$ (2.91)	$ 0.32
Net (loss) earnings per share - Diluted (in dollars per share)	$ (2.91)	$ 0.32
Weighted average shares outstanding - Basic (in shares)	127,614	135,987
Weighted average shares outstanding - Diluted (in shares)	127,614	136,601
Dividends declared per share (in dollars per share)	$ 0.17	$ 0.16

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) earnings	$ (371,085)	$ 43,576
Other comprehensive loss:
Change in temporary impairment of auction rate securities, net of taxes	493	315
Pension adjustment, net of taxes	(27)	136
Currency translation adjustment	(3,633)	(4,130)
Other comprehensive loss	(3,167)	(3,679)
Comprehensive (loss) income	$ (374,252)	$ 39,897

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]
Balance (in shares) at Mar. 03, 2018		341,795			201,297
Balance at Mar. 03, 2018	$ 2,888,628	$ 3,418	$ 2,057,975	$ 11,343,503	$ 10,467,972	$ (48,296)
Net (loss) earnings	43,576			43,576
Other comprehensive loss, net of tax	(3,679)					(3,679)
Dividend declared	(22,286)			(22,286)
Issuance of restricted shares, net (in shares)		383
Issuance of restricted shares, net	0	$ 4	(4)
Payment and vesting of performance stock units (in shares)		464
Payment and vesting of performance stock units	0	$ 4	(4)
Stock-based compensation expense, net	24,271		24,271
Director fees paid in stock	0
Repurchase of common stock, including fees (in shares)					(1,214)
Repurchase of common stock, including fees	(22,110)				$ (22,110)
Balance (in shares) at Jun. 02, 2018		342,642			202,511
Balance at Jun. 02, 2018	2,904,179	$ 3,426	2,082,238	11,360,572	$ 10,490,082	(51,975)
Balance (in shares) at Mar. 02, 2019		342,582			210,349
Balance at Mar. 02, 2019	2,560,331	$ 3,426	2,118,673	11,112,887	$ 10,616,045	(58,610)
Net (loss) earnings	(371,085)			(371,085)
Other comprehensive loss, net of tax	(3,167)					(3,167)
Dividend declared	(21,587)			(21,587)
Issuance of restricted shares, net (in shares)		290
Issuance of restricted shares, net	0	$ 3	(3)
Payment and vesting of performance stock units (in shares)		547
Payment and vesting of performance stock units	0	$ 5	(5)
Stock-based compensation expense, net	$ 19,697		19,697
Repurchase of common stock, including fees (in shares)	(5,300)				(5,296)
Repurchase of common stock, including fees	$ (81,495)				$ (81,495)
Balance (in shares) at Jun. 01, 2019		343,419			215,645
Balance at Jun. 01, 2019	$ 2,061,994	$ 3,434	$ 2,138,362	$ 10,679,515	$ 10,697,540	$ (61,777)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		173 Months Ended
	Jun. 01, 2019	Jun. 02, 2018	Jun. 01, 2019
Cash Flows from Operating Activities:
Net (loss) earnings	$ (371,085)	$ 43,576
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	83,542	79,578
Goodwill and other impairments	401,267	0
Stock-based compensation	19,348	23,572
Deferred income taxes	(54,514)	(3,548)
Other	(2,301)	(1,109)
Decrease (increase) in assets:
Merchandise inventories	76,455	82,252
Trading investment securities	21	(2,069)
Other current assets	137	104,954
Other assets	88	(482)
(Decrease) increase in liabilities:
Accounts payable	(10,996)	(78,717)
Accrued expenses and other current liabilities	(30,580)	(5,401)
Merchandise credit and gift card liabilities	3,896	5,553
Income taxes payable	(880)	(3,767)
Operating lease assets and liabilities, net	(23,922)
Other liabilities	(389)	602
Net cash provided by operating activities	90,087	244,994
Cash Flows from Investing Activities:
Purchase of held-to-maturity investment securities	(57,000)	(5,625)
Redemption of held-to-maturity investment securities	343,000	238,125
Capital expenditures	(68,375)	(97,813)
Net cash provided by investing activities	217,625	134,687
Cash Flows from Financing Activities:
Payment of dividends	(21,894)	(21,414)
Repurchase of common stock, including fees	(81,495)	(22,110)	$ (10,700,000)
Net cash used in financing activities	(103,389)	(43,524)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2,095)	(3,651)
Net increase in cash, cash equivalents and restricted cash	202,228	332,506
Cash, cash equivalents and restricted cash:
Beginning of period	529,971	367,140
End of period	$ 732,199	$ 699,646	$ 732,199

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jun. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared without audit. In the opinion of management, the accompanying consolidated financial statements contain all adjustments (consisting of only normal recurring accruals and elimination of intercompany balances and transactions) necessary to present fairly the financial position of Bed Bath & Beyond Inc. and subsidiaries (the "Company") as of June 1, 2019 and March 2, 2019 and the results of its operations, shareholders' equity, comprehensive (loss) income and cash flows for the three months ended June 1, 2019 and June 2, 2018 , respectively. The accompanying unaudited consolidated financial statements are presented in accordance with the requirements for Form 10-Q and consequently do not include all the disclosures normally required by U.S. generally accepted accounting principles ("GAAP"). Reference should be made to Bed Bath & Beyond Inc.'s Annual Report on Form 10-K for the fiscal year ended March 2, 2019 for additional disclosures, including a summary of the Company's significant accounting policies, and to subsequently filed Form 8-Ks. The consolidated statement of cash flows for the three months ended June 2, 2018 was revised to include restricted cash due to the adoption of the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash in fiscal 2018. The Company accounts for its operations as two operating segments: North American Retail and Institutional Sales. The Institutional Sales operating segment, which is comprised of Linen Holdings, does not meet the quantitative thresholds under GAAP and therefore is not a reportable segment. Net sales outside of the U.S. for the Company were not material for the three months ended June 1, 2019 and June 2, 2018 . As the Company operates in the retail industry, its results of operations are affected by general economic conditions and consumer spending habits.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Jun. 01, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . This guidance requires an entity to recognize lease liabilities and a right-of-use asset for all leases on the balance sheet and to disclose key information about the entity's leasing arrangements. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with earlier adoption permitted. In July 2018, the FASB approved an amendment to the new guidance that allows companies the option of using the effective date of the new standard as the initial application (at the beginning of the period in which it is adopted, rather than at the beginning of the earliest comparative period) and to recognize the effects of applying the new ASU as a cumulative effect adjustment to the opening balance sheet or retained earnings. The Company adopted this accounting standard at the beginning of the first quarter of fiscal 2019 using the new transition election to not restate comparative periods. The Company elected the package of practical expedients upon adoption, which permits the Company to not reassess under the new standard the Company's prior conclusions about lease identification, lease classification and initial direct costs. In addition, the Company elected not to separate lease and non-lease components for all real estate leases and did not elect the hindsight practical expedient. Lastly, the Company elected the short-term lease exception policy, permitting it to exclude the recognition requirements of this standard from leases with initial terms of 12 months or less. Upon adoption, the Company recognized operating lease assets of approximately $2.0 billion and operating lease liabilities of approximately $2.2 billion on its consolidated balance sheet. In addition, upon adoption deferred rent and various lease incentives which were recorded as of March 2, 2019 were reclassified as a component of the right-of-use assets. Upon adoption, the Company recognized a cumulative adjustment decreasing opening retained earnings by approximately $40.7 million

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jun. 01, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Recognition	Revenue Recognition Sales are recognized upon purchase by customers at the Company’s retail stores or upon delivery for products purchased from its websites. The value of point-of-sale coupons and point-of-sale rebates that result in a reduction of the price paid by the customer are recorded as a reduction of sales. Shipping and handling fees that are billed to a customer in a sale transaction are recorded in sales. Taxes, such as sales tax, use tax and value added tax, are not included in sales. Revenues from gift cards, gift certificates and merchandise credits are recognized when redeemed. Gift cards have no provisions for reduction in the value of unused card balances over defined time periods and have no expiration dates. For the three months ended June 1, 2019 , the Company recognized net sales for gift card and merchandise credit redemptions of approximately $50.6 million which were included in merchandise credit and gift card liabilities on the consolidated balance sheet as of March 2, 2019. Sales returns are provided for in the period that the related sales are recorded based on historical experience. Although the estimate for sales returns has not varied materially from historical provisions, actual experience could vary from historical experience in the future if the level of sales return activity changes materially. In the future, if the Company concludes that an adjustment is required due to material changes in the returns activity, the liability for estimated returns and the corresponding right of return asset will be adjusted accordingly. As of June 1, 2019 , the liability for estimated returns of $86.7 million is included in accrued expenses and other current liabilities and the corresponding right of return asset for merchandise of $52.0 million is included in prepaid expenses and other current assets. The Company sells a wide assortment of domestics merchandise and home furnishings. Domestics merchandise includes categories such as bed linens and related items, bath items and kitchen textiles. Home furnishings include categories such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings (including furniture and wall décor), consumables and certain juvenile products. Sales of domestics merchandise and home furnishings accounted for approximately 35.6% and 64.4% of net sales, respectively, for the three months ended June 1, 2019 , and approximately 36.0% and 64.0% of net sales, respectively, for the three months ended June 2, 2018

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 01, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., "the exit price") in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches, including quoted market prices and discounted cash flows. The hierarchy for inputs used in measuring fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect a company's judgment concerning the assumptions that market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset or liability must be classified in its entirety based on the lowest level of input that is significant to the measurement of fair value. The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows: • Level 1 - Valuations based on quoted prices in active markets for identical instruments that the Company is able to access. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. • Level 2 - Valuations based on quoted prices in active markets for instruments that are similar, or quoted prices in markets that are not active for identical or similar instruments, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. • Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The Company did not have any financial assets utilizing Level 2 inputs. Financial assets utilizing Level 3 inputs included long term investments in auction rate securities consisting of preferred shares of closed end municipal bond funds (See "Investment Securities," Note 6). Fair Value of Financial Instruments The Company's financial instruments include cash and cash equivalents, investment securities, accounts payable, long term debt and certain other liabilities. The Company's investment securities consist primarily of U.S. Treasury securities, which are stated at amortized cost, and auction rate securities, which are stated at their fair value. The book value of the financial instruments, excluding the Company's long term debt, is representative of their fair values. The fair value of the Company's long term debt is approximately $1.151 billion as of June 1, 2019 , which is based on quoted prices in active markets for identical instruments (i.e., Level 1 valuation), compared to the carrying value of approximately $1.495 billion .

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Jun. 01, 2019
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents Included in cash and cash equivalents are credit and debit card receivables from banks, which typically settle within five business days, of $86.8 million and $92.9 million as of June 1, 2019 and March 2, 2019 , respectively.

Investment Securities

Investment Securities	3 Months Ended
	Jun. 01, 2019
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The Company's investment securities as of June 1, 2019 and March 2, 2019 are as follows: (in millions) June 1, 2019 March 2, 2019 Available-for-sale securities: Long term $ 20.6 $ 19.9 Held-to-maturity securities: Short term 201.7 485.8 Total investment securities $ 222.3 $ 505.7 Auction Rate Securities As of June 1, 2019 and March 2, 2019 , the Company's long term available-for-sale investment securities represented approximately $20.3 million par value of auction rate securities consisting of preferred shares of closed end municipal bond funds, less temporary valuation adjustments of approximately $0.3 million and $(0.4) million , respectively. Since these valuation adjustments are deemed to be temporary, they are recorded in accumulated other comprehensive loss, net of a related tax benefit, and did not affect the Company's net earnings. U.S. Treasury Securities As of June 1, 2019 and March 2, 2019 , the Company’s short term held-to-maturity securities included approximately $201.7 million and $485.8 million

Property and Equipment

Property and Equipment	3 Months Ended
	Jun. 01, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment As of June 1, 2019 and March 2, 2019 , included in property and equipment, net is accumulated depreciation of approximately $3.6 billion and $3.5 billion , respectively.

Leases

Leases	3 Months Ended
	Jun. 01, 2019
Leases [Abstract]
Leases	Leases The Company leases retail stores, as well as distribution facilities, offices and equipment, under agreements expiring at various dates through 2041. The leases provide for original lease terms that generally range from 10 to 15 years and most leases provide for a series of five year renewal options, often at increased rents, the exercise of which is at the Company's sole discretion. In recognizing the lease right-of-use assets and lease liabilities, the Company utilizes the lease term for which it is reasonably certain to use the underlying asset, including consideration of options to extend or terminate the lease. Certain leases provide for contingent rents (which are based upon store sales exceeding stipulated amounts and are immaterial for the three months ended June 1, 2019 and June 2, 2018 ), scheduled rent increases and renewal options. The Company is obligated under a majority of the leases to pay for taxes, insurance and common area maintenance charges. Companies are required to use the rate implicit in the lease whenever that rate is readily determinable and if the interest rate is not readily determinable, then a lessee may use its incremental borrowing rate. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. The Company determined discount rates based on the rates of its unsecured borrowings, which are then adjusted for the appropriate lease term and effects of full collateralization. In determining the Company's operating lease assets and operating lease liabilities, the Company applied these incremental borrowing rates to the minimum lease payments within each lease agreement. The components of total lease cost for the three months ended June 1, 2019, were as follows. (in thousands) Statement of Operations Location Three months ended June 1, 2019 Operating lease cost Cost of sales and SG&A $ 143,900 Finance lease cost: Depreciation of property SG&A 648 Interest on lease liabilities Interest expense, net 2,222 Variable lease cost Cost of sales and SG&A 47,895 Sublease income SG&A (278 ) Total lease cost $ 194,387 As of June 1, 2019, assets and liabilities related to the Company's operating and finance leases are as follows: (in thousands) Consolidated Balance Sheet Location June 1, 2019 Assets Operating leases Operating lease assets $ 1,990,963 Finance leases Property and equipment, net 71,231 Total Lease assets $ 2,062,194 Liabilities Current: Operating leases Current operating lease liabilities $ 410,417 Finance leases Accrued expenses and other current liabilities 1,511 Noncurrent: Operating leases Operating lease liabilities 1,775,081 Finance leases Other liabilities 103,581 Total lease liabilities $ 2,290,590 As of June 1, 2019, the Company's lease liabilities mature as follows: (in thousands) Operating Leases Finance Leases Fiscal Year: Remainder of 2019 $ 390,167 $ 7,811 2020 548,353 10,469 2021 450,764 10,434 2022 352,797 10,407 2023 259,691 10,524 Thereafter 642,185 259,584 Total lease payments $ 2,643,957 $ 309,229 Less imputed interest (458,459 ) (204,137 ) Present value of lease liabilities $ 2,185,498 $ 105,092 The Company's lease terms and discount rates are as follows: June 1, 2019 Weighted-average remaining lease term (in years) Operating leases 6.0 Finance leases 26.4 Weighted-average discount rate Operating leases 6.1 % Finance leases 8.9 % Other information for the Company's leases is as follows: (in thousands) Three months ended June 1, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 166,514 Operating cash flows from finance leases 2,580 Operating lease assets obtained in exchange for new operating lease liabilities 109,647 At the beginning of fiscal 2019, the Company adopted ASU2016-02, and as required, the following disclosure is provided for periods prior to adoption. As of March 2, 2019, future minimum lease payments under non-cancelable operating leases were as follows: (in thousands) Operating Leases Fiscal Year: 2019 609,613 2020 534,055 2021 434,908 2022 334,587 2023 241,863 Thereafter 616,170 Total future minimum lease payments 2,771,196 As of March 2, 2019, the capital lease obligations were approximately $3.8 million for which the current and long-term portions were included within accrued expenses and other current liabilities and other liabilities, respectively, in the consolidated balance sheet. Monthly minimum lease payments are accounted for as principal and interest payments. The minimum capital lease payments, including interest, by fiscal year were: $0.9 million in fiscal 2019; $0.8 million in fiscal 2020; $0.7 million in fiscal 2021; $0.6 million in fiscal 2022; $0.6 million in fiscal 2023; and $1.0 million thereafter. The Company has financing obligations, related to two sale/leaseback agreements, which approximated the discounted fair value of the minimum lease payments, had a residual fair value at the end of the lease term and are being amortized over the term of the respective agreements, including option periods, of 32 and 37 years . As of March 2, 2019, the sale/leaseback financing obligations were approximately $101.7 million , for which the current and long-term portions were included within accrued expenses and other current liabilities and other liabilities, respectively, in the consolidated balance sheet. Monthly lease payments are accounted for as principal and interest payments (at approximate annual interest rates of 7.2% and 10.6% ). These sale/leaseback financing obligations, excluding the residual fair value at the end of the lease term, mature as follows: $0.8 million in fiscal 2019; $0.9 million in fiscal 2020; $0.9 million in fiscal 2021; $1.0 million in fiscal 2022; $1.0 million in fiscal 2023; and $75.4 million thereafter.
Leases	Leases The Company leases retail stores, as well as distribution facilities, offices and equipment, under agreements expiring at various dates through 2041. The leases provide for original lease terms that generally range from 10 to 15 years and most leases provide for a series of five year renewal options, often at increased rents, the exercise of which is at the Company's sole discretion. In recognizing the lease right-of-use assets and lease liabilities, the Company utilizes the lease term for which it is reasonably certain to use the underlying asset, including consideration of options to extend or terminate the lease. Certain leases provide for contingent rents (which are based upon store sales exceeding stipulated amounts and are immaterial for the three months ended June 1, 2019 and June 2, 2018 ), scheduled rent increases and renewal options. The Company is obligated under a majority of the leases to pay for taxes, insurance and common area maintenance charges. Companies are required to use the rate implicit in the lease whenever that rate is readily determinable and if the interest rate is not readily determinable, then a lessee may use its incremental borrowing rate. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. The Company determined discount rates based on the rates of its unsecured borrowings, which are then adjusted for the appropriate lease term and effects of full collateralization. In determining the Company's operating lease assets and operating lease liabilities, the Company applied these incremental borrowing rates to the minimum lease payments within each lease agreement. The components of total lease cost for the three months ended June 1, 2019, were as follows. (in thousands) Statement of Operations Location Three months ended June 1, 2019 Operating lease cost Cost of sales and SG&A $ 143,900 Finance lease cost: Depreciation of property SG&A 648 Interest on lease liabilities Interest expense, net 2,222 Variable lease cost Cost of sales and SG&A 47,895 Sublease income SG&A (278 ) Total lease cost $ 194,387 As of June 1, 2019, assets and liabilities related to the Company's operating and finance leases are as follows: (in thousands) Consolidated Balance Sheet Location June 1, 2019 Assets Operating leases Operating lease assets $ 1,990,963 Finance leases Property and equipment, net 71,231 Total Lease assets $ 2,062,194 Liabilities Current: Operating leases Current operating lease liabilities $ 410,417 Finance leases Accrued expenses and other current liabilities 1,511 Noncurrent: Operating leases Operating lease liabilities 1,775,081 Finance leases Other liabilities 103,581 Total lease liabilities $ 2,290,590 As of June 1, 2019, the Company's lease liabilities mature as follows: (in thousands) Operating Leases Finance Leases Fiscal Year: Remainder of 2019 $ 390,167 $ 7,811 2020 548,353 10,469 2021 450,764 10,434 2022 352,797 10,407 2023 259,691 10,524 Thereafter 642,185 259,584 Total lease payments $ 2,643,957 $ 309,229 Less imputed interest (458,459 ) (204,137 ) Present value of lease liabilities $ 2,185,498 $ 105,092 The Company's lease terms and discount rates are as follows: June 1, 2019 Weighted-average remaining lease term (in years) Operating leases 6.0 Finance leases 26.4 Weighted-average discount rate Operating leases 6.1 % Finance leases 8.9 % Other information for the Company's leases is as follows: (in thousands) Three months ended June 1, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 166,514 Operating cash flows from finance leases 2,580 Operating lease assets obtained in exchange for new operating lease liabilities 109,647 At the beginning of fiscal 2019, the Company adopted ASU2016-02, and as required, the following disclosure is provided for periods prior to adoption. As of March 2, 2019, future minimum lease payments under non-cancelable operating leases were as follows: (in thousands) Operating Leases Fiscal Year: 2019 609,613 2020 534,055 2021 434,908 2022 334,587 2023 241,863 Thereafter 616,170 Total future minimum lease payments 2,771,196 As of March 2, 2019, the capital lease obligations were approximately $3.8 million for which the current and long-term portions were included within accrued expenses and other current liabilities and other liabilities, respectively, in the consolidated balance sheet. Monthly minimum lease payments are accounted for as principal and interest payments. The minimum capital lease payments, including interest, by fiscal year were: $0.9 million in fiscal 2019; $0.8 million in fiscal 2020; $0.7 million in fiscal 2021; $0.6 million in fiscal 2022; $0.6 million in fiscal 2023; and $1.0 million thereafter. The Company has financing obligations, related to two sale/leaseback agreements, which approximated the discounted fair value of the minimum lease payments, had a residual fair value at the end of the lease term and are being amortized over the term of the respective agreements, including option periods, of 32 and 37 years . As of March 2, 2019, the sale/leaseback financing obligations were approximately $101.7 million , for which the current and long-term portions were included within accrued expenses and other current liabilities and other liabilities, respectively, in the consolidated balance sheet. Monthly lease payments are accounted for as principal and interest payments (at approximate annual interest rates of 7.2% and 10.6% ). These sale/leaseback financing obligations, excluding the residual fair value at the end of the lease term, mature as follows: $0.8 million in fiscal 2019; $0.9 million in fiscal 2020; $0.9 million in fiscal 2021; $1.0 million in fiscal 2022; $1.0 million in fiscal 2023; and $75.4 million thereafter.

Goodwill and Other Indefinite L

Goodwill and Other Indefinite Lived Intangible Assets	3 Months Ended
	Jun. 01, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Indefinite Lived Intangible Assets	Goodwill and Other Indefinite Lived Intangible Assets The Company reviews goodwill and other intangibles that have indefinite lives for impairment annually as of the end of the fiscal year or when events or changes in circumstances indicate the carrying value of these assets might exceed their current fair values. Impairment testing is based upon the best information available including estimates of fair value which incorporate assumptions marketplace participants would use in making their estimates of fair value. Significant assumptions and estimates are required, including, but not limited to, projecting future cash flows, determining appropriate discount rates and terminal growth rates, and other assumptions, to estimate the fair value of goodwill and indefinite lived intangible assets. Although the Company believes the assumptions and estimates made are reasonable and appropriate, different assumptions and estimates could materially impact its reported financial results. Prior to March 2, 2019, the Company has not historically recorded an impairment to its goodwill and other indefinite lived intangible assets. In fiscal 2018, the Company recognized non-cash pre-tax goodwill impairment charges of $285.1 million and $40.1 million for the North American Retail and Institutional Sales reporting units, respectively. As of June 1, 2019, the Company completed a quantitative impairment analysis of goodwill related to its reporting units by comparing the fair value of a reporting unit with its carrying amount. The Company performed a discounted cash flow analysis and market multiple analysis for each reporting unit. Based upon the analysis performed, the Company recognized a non-cash pre-tax goodwill impairment charge of $391.1 million for the North American Retail reporting unit. The non-cash pre-tax impairment charge was primarily the result of a sustained decline in the Company's market capitalization. Other indefinite-lived intangible assets were recorded as a result of acquisitions and primarily consist of tradenames. The Company values its tradenames using a relief-from-royalty approach, which assumes the value of the tradename is the discounted cash flows of the amount that would be paid by a hypothetical market participant had they not owned the tradename and instead licensed the tradename from another company. As of June 1, 2019, for certain other indefinite lived intangible assets, the Company completed a quantitative impairment analysis by comparing the fair value of the tradenames to their carrying value and recognized a non-cash pre-tax tradename impairment charge of $10.2 million , within goodwill and other impairments in the consolidated statement of operations, for certain tradenames. As of June 1, 2019, for the remaining other indefinite lived intangibles assets, the Company assessed qualitative factors in order to determine whether any events and circumstances existed which indicated that it was more likely than not that the fair value of these other indefinite lived assets did not exceed their carrying values and concluded no such events or circumstances existed which would require an impairment test be performed. In the future, if events or market conditions affect the estimated fair value to the extent that an asset is impaired, the Company will adjust the carrying value of these assets in the period in which the impairment occurs. Included within other assets in the accompanying consolidated balance sheets as of June 1, 2019 and March 2, 2019, respectively, are $133.6 million and $143.8 million for indefinite lived tradenames and trademarks.

Long Term Debt

Long Term Debt	3 Months Ended
	Jun. 01, 2019
Debt Disclosure [Abstract]
Long Term Debt	Long Term Debt Senior Unsecured Notes On July 17, 2014 , the Company issued $300 million aggregate principal amount of 3.749% senior unsecured notes due August 1, 2024 , $300 million aggregate principal amount of 4.915% senior unsecured notes due August 1, 2034 and $900 million aggregate principal amount of 5.165% senior unsecured notes due August 1, 2044 (collectively, the "Notes"). Interest on the Notes is payable semi-annually on February 1 and August 1 of each year. In fiscal 2018, the Company purchased and retired approximately $4.6 million of senior unsecured notes due August 1, 2024. The Notes were issued under an indenture (the "Base Indenture"), as supplemented by a first supplemental indenture (together, with the Base Indenture, the "Indenture"), which contains various restrictive covenants, which are subject to important limitations and exceptions that are described in the Indenture. The Company was in compliance with all covenants related to the Notes as of June 1, 2019 . Revolving Credit Agreement On November 14, 2017, the Company replaced its existing $250 million five year senior unsecured revolving credit facility agreement with various lenders with a new $250 million five year senior unsecured revolving credit facility agreement ("Revolver") with various lenders maturing November 14, 2022 . The new Revolver has essentially the same terms and requirements as the prior revolving credit facility agreement. During the three months ended June 1, 2019 , the Company did not have any borrowings under the Revolver. The Revolver contains customary affirmative and negative covenants and also requires the Company to maintain a maximum leverage ratio. The Company was in compliance with all covenants related to the Revolver as of June 1, 2019 . Deferred financing costs associated with the Notes and the revolving credit facilities of approximately $10.5 million were capitalized. In the accompanying Consolidated Balance Sheets, the deferred financing costs are included in long term debt, net of amortization, for the Notes, and are included in other assets, net of amortization, for the Revolver. These deferred financing costs for the Notes and the Revolver are being amortized over the term of each of the Notes and the term of the Revolver and such amortization is included in interest expense, net in the Consolidated Statements of Earnings. Interest expense related to the Notes and the revolving credit facilities, including the commitment fee and the amortization of deferred financing costs, was approximately $18.2 million for both the three months ended June 1, 2019 and June 2, 2018 . Lines of Credit At June 1, 2019 , the Company maintained two uncommitted lines of credit of $100 million each, with expiration dates of August 30, 2019 and February 23, 2020 , respectively. These uncommitted lines of credit are currently and are expected to be used for letters of credit in the ordinary course of business. During the first three months of fiscal 2019 , the Company did not have any direct borrowings under the uncommitted lines of credit. Although no assurances can be provided, the Company intends to renew both uncommitted lines of credit before the respective expiration dates.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Jun. 01, 2019
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity The Company has authorization to make repurchases from time to time in the open market or through other parameters approved by the Board of Directors pursuant to existing rules and regulations. Between December 2004 and September 2015, the Company's Board of Directors authorized, through several share repurchase programs, the repurchase of $11.950 billion of its shares of common stock. The Company also acquires shares of its common stock to cover employee related taxes withheld on vested restricted stock and performance stock unit awards. In the first three months of fiscal 2019 , the Company repurchased approximately 5.3 million shares of its common stock for a total cost of approximately $81.5 million , bringing the aggregate total of common stock repurchased to approximately 215.6 million shares for a total cost of approximately $10.7 billion since the initial authorization in December 2004. The Company has approximately $1.3 billion remaining of authorized share repurchases as of June 1, 2019 . During fiscal 2016, the Company's Board of Directors authorized a quarterly dividend program. During the three months ended June 1, 2019 and June 2, 2018 , total cash dividends of $21.9 million and $21.4 million were paid, respectively. Subsequent to the end of the first quarter of fiscal 2019 , on July 8, 2019 , the Company's Board of Directors declared a quarterly dividend of $0.17 per share to be paid on October 15, 2019 to shareholders of record as of the close of business on September 13, 2019 . The Company expects to pay quarterly cash dividends on its common stock in the future, subject to the determination by the Board of Directors, based on an evaluation of the Company's earnings, financial condition and requirements, business conditions and other factors. Cash dividends, if any, are accrued as a liability on the Company's consolidated balance sheets and recorded as a decrease to retained earnings when declared.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jun. 01, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company measures all employee stock-based compensation awards using a fair value method and records such expense, net of estimated forfeitures, in its consolidated financial statements. Currently, the Company's stock-based compensation relates to restricted stock awards, stock options and performance stock units. The Company's restricted stock awards are considered nonvested share awards. Stock-based compensation expense for the three months ended June 1, 2019 was approximately $19.3 million ( $17.0 million after tax or $0.13 per diluted share). Stock-based compensation expense for the three months ended June 2, 2018 was approximately $23.6 million ( $15.9 million after tax or $0.12 per diluted share). In addition, the amount of stock-based compensation cost capitalized for the three months ended June 1, 2019 and June 2, 2018 was approximately $0.3 million and $0.7 million , respectively. Incentive Compensation Plans The Company grants awards under the Bed Bath & Beyond 2012 Incentive Compensation Plan (the "2012 Plan"), which amended and restated the Bed Bath & Beyond 2004 Incentive Compensation Plan (the "2004 Plan"). The 2012 Plan includes an aggregate of 43.2 million common shares authorized for issuance and the ability to grant incentive stock options. Outstanding awards that were covered by the 2004 Plan continue to be in effect under the 2012 Plan. The 2012 Plan is a flexible compensation plan that enables the Company to offer incentive compensation through stock options (whether nonqualified stock options or incentive stock options), restricted stock awards, stock appreciation rights, performance awards and other stock based awards, including cash awards. Under the 2012 Plan, grants are determined by the Compensation Committee for those awards granted to executive officers and by an appropriate committee for all other awards granted. Stock option grants generally become exercisable in either three or five equal annual installments beginning one year from the date of grant, subject, in general, to the recipient remaining in the Company's service on specified vesting dates. Restricted stock awards generally become vested in five to seven equal annual installments beginning one to three years from the date of grant, subject, in general, to the recipient remaining in the Company's service on specified vesting dates. Performance stock units generally vest over a period of three to four years from the date of grant dependent on the Company's achievement of performance-based tests and subject, in general, to the executive remaining in the Company's service on specified vesting dates. The Company generally issues new shares for stock option exercises, restricted stock awards and vesting of performance stock units. On May 22, 2018, the Company adopted the Bed Bath & Beyond 2018 Incentive Compensation Plan (the “2018 Plan”), subject to and effective upon shareholder approval, which was obtained on June 29, 2018. The 2018 Plan is generally based on the provisions of the 2012 Plan as currently in effect and also includes an aggregate share reserve of 4.6 million shares of common stock. The 2012 Plan will continue in effect without modification in accordance with its existing terms. The 2012 Plan and the 2018 Plan have a total of 47.8 million shares authorized for issuance. Stock Options Stock option grants are issued at fair market value on the date of grant and generally become exercisable in either three or five equal annual installments beginning one year from the date of grant, subject, in general, to the recipient remaining in the Company's service on specified vesting dates. Option grants expire eight years after the date of grant. All option grants are nonqualified. As of June 1, 2019 , unrecognized compensation expense related to the unvested portion of the Company's stock options was $10.4 million , which is expected to be recognized over a weighted average period of 2.1 years . The fair value of the stock options granted was estimated on the date of the grant using a Black-Scholes option-pricing model that uses the assumptions noted in the following table. Three Months Ended Black-Scholes Valuation Assumptions (1) June 1, 2019 June 2, 2018 Weighted Average Expected Life (in years) (2) 7.6 6.7 Weighted Average Expected Volatility (3) 39.41 % 34.96 % Weighted Average Risk Free Interest Rates (4) 2.39 % 2.92 % Expected Dividend Yield (5) 4.34 % 3.80 % (1) Forfeitures are estimated based on historical experience. (2) The expected life of stock options is estimated based on historical experience. (3) Expected volatility is based on the average of historical and implied volatility. The historical volatility is determined by observing actual prices of the Company's stock over a period commensurate with the expected life of the awards. The implied volatility represents the implied volatility of the Company's call options, which are actively traded on multiple exchanges, had remaining maturities in excess of twelve months, had market prices close to the exercise prices of the employee stock options and were measured on the stock option grant date. (4) Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of the stock options. (5) Expected dividend yield is estimated based on anticipated dividend payouts. Changes in the Company's stock options for the three months ended June 1, 2019 were as follows: (Shares in thousands) Number of Stock Options Weighted Average Exercise Price Options outstanding, beginning of period 4,395 $ 47.53 Granted 144 15.68 Exercised — — Forfeited or expired (674 ) 46.00 Options outstanding, end of period 3,865 $ 46.61 Options exercisable, end of period 2,421 $ 57.95 The weighted average fair value for the stock options granted during the first three months of fiscal 2019 and 2018 was $4.18 and $4.31 , respectively. The weighted average remaining contractual term and the aggregate intrinsic value for options outstanding as of June 1, 2019 was 4.4 years and $0 , respectively. The weighted average remaining contractual term for options exercisable as of June 1, 2019 was 3.3 years and the aggregate intrinsic value was $0 . There were no stock options exercised during the first three months of fiscal 2019 and 2018 . Restricted Stock Restricted stock awards are issued and measured at fair market value on the date of grant and generally become vested in five to seven equal annual installments beginning one to three years from the date of grant, subject, in general, to the recipient remaining in the Company's service on specified vesting dates. Vesting of restricted stock is based solely on time vesting. As of June 1, 2019 , unrecognized compensation expense related to the unvested portion of the Company's restricted stock awards was $101.7 million , which is expected to be recognized over a weighted average period of 4.1 years . Changes in the Company's restricted stock for the three months ended June 1, 2019 were as follows: (Shares in thousands) Number of Restricted Shares Weighted Average Grant-Date Fair Value Unvested restricted stock, beginning of period 3,747 $ 41.73 Granted 428 15.71 Vested (510 ) 52.18 Forfeited (138 ) 38.20 Unvested restricted stock, end of period 3,527 $ 37.20 Performance Stock Units Performance stock units ("PSUs") are issued and measured at fair market value on the date of grant. Vesting of PSUs awarded to certain of the Company's executives is dependent on the Company's achievement of a performance-based test during a one -year period from the date of grant and during a three -year period from the date of grant and, assuming achievement of the performance-based test, time vesting over periods of up to four years , subject, in general, to the executive remaining in the Company's service on specified vesting dates. For awards granted in fiscal 2018 and prior, performance during the three -year period were based on Return on Invested Capital ("ROIC") or a combination of Earnings Before Interest and Taxes ("EBIT") margin and ROIC relative to a peer group. For awards granted in fiscal 2019, performance during a one-year period will be based on a one-year Company EBIT goal and performance during the three-year period will be based on a three-year cumulative Company EBIT goal and a relative three-year Total Shareholder Return ("TSR") goal relative to a peer group. The PSU awards range from a floor of zero to a cap of 150% of target achievement. PSUs are converted into shares of common stock upon payment following vesting. Upon grant of the PSUs, the Company recognizes compensation expense related to these awards based on the Company's estimate of the percentage of the award that will be achieved. The Company evaluates the estimate on these awards on a quarterly basis and adjusts compensation expense related to these awards, as appropriate. As of June 1, 2019 , unrecognized compensation expense related to the unvested portion of the Company's performance stock units was $16.9 million , which is expected to be recognized over a weighted average period of 1.8 years . Changes in the Company's PSUs for the three months ended June 1, 2019 were as follows: (Shares in thousands) Number of Performance Stock Units Weighted Average Grant-Date Fair Value Unvested performance stock units, beginning of period 2,082 $ 27.16 Granted 77 15.68 Vested (547 ) 34.91 Forfeited or performance condition adjustments (979 ) 24.19 Unvested performance stock units, end of period 633 $ 23.66

Earnings per Share

Earnings per Share	3 Months Ended
	Jun. 01, 2019
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The Company presents earnings per share on a basic and diluted basis. Basic earnings per share has been computed by dividing net earnings by the weighted average number of shares outstanding. Diluted earnings per share has been computed by dividing net earnings by the weighted average number of shares outstanding, including the dilutive effect of stock-based awards as calculated under the treasury stock method. Stock-based awards of approximately 7.7 million and 8.5 million were excluded from the computation of diluted earnings per share as the effect would be anti-dilutive for the three months ended June 1, 2019 and June 2, 2018, respectively.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Jun. 01, 2019
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The Company paid income taxes of $3.8 million and $3.2 million in the first three months of fiscal 2019 and 2018 , respectively. In addition, the Company had interest payments of approximately $2.2 million in both the first three months of fiscal 2019 and 2018 . The Company recorded an accrual for capital expenditures of $35.8 million and $28.0 million as of June 1, 2019 and June 2, 2018 , respectively. In addition, the Company recorded an accrual for dividends payable of $28.0 million and $26.3 million as of June 1, 2019 and June 2, 2018

Restructuring Activities

Restructuring Activities	3 Months Ended
	Jun. 01, 2019
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities In the first quarter of fiscal 2019, the Company expensed pre-tax restructuring charges of approximately $3.9 million , related to the realignment of its store management structure to support its customer-focused initiatives and omnichannel growth. These charges primarily were for severance and related costs in conjunction with this realignment. The Company paid $2.3 million of these costs during the first quarter of fiscal 2019.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 01, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The District Attorney's office for the County of Ventura, together with District Attorneys for other counties in California (together, the “District Attorneys"), recently concluded an investigation regarding the management and disposal at the Company's stores in California of certain materials that may be deemed hazardous or universal waste under California law. On March 19, 2019, the District Attorneys provided the Company with a settlement demand that included a proposed civil penalty, reimbursement of investigation costs, and certain injunctive relief, including modifications to the Company's existing compliance program, which already includes associate training, on-going review of disposal rules applicable to various product categories, and specialized third-party disposal. The Company is working with the District Attorneys towards a resolution of this matter and has recorded an accrual for the estimated probable loss for this matter as of June 1, 2019 and March 2, 2019. While no assurance can be given as to its ultimate outcome, the Company does not believe that the final resolution of this matter will have a material effect on the Company’s consolidated financial position, results of operations or liquidity. The Company maintains employment agreements with its Co-Founders. Under these agreements, the Co-Founders could at any time elect senior status (i.e., to be continued to be employed to provide non-line executive consultative services). On May 11, 2017, the Co-Founders notified the Company that they elected to commence their Senior Status Period, effective May 21, 2017. The Co-Founders are entitled to a base salary, termination payments, postretirement benefits and other terms and conditions of employment pursuant to the senior status provisions of these employment agreements. On April 21, 2019, Warren Eisenberg and Leonard Feinstein transitioned to the role of Co-Founders and Co-Chairmen Emeriti of the Board of Directors of the Company. As a result of this transition, Mr. Eisenberg and Mr. Feinstein ceased to be officers of the Company effective as of April 21, 2019, and became entitled to the payments and benefits provided under their employment agreements that apply in the case of a termination without cause, which generally include continued senior status payments until May 2027 and continued participation for the Co- Founders (and their spouses, if applicable) at the Company's expense in employee plans and programs. In addition, the Co-Founders are entitled to supplemental pension payments specified in their employment agreements until the death of the survivor of the Co-Founder and his spouse, reduced by the continued senior status payments referenced in the foregoing sentence. Pursuant to their respective restricted stock and performance stock unit agreements, shares of restricted stock and performance-based stock units granted to Messrs. Eisenberg and Feinstein vested upon their resignation as members of the Board of Directors effective May 1, 2019, subject, however, to attainment of any applicable performance goals and the certification of the applicable performance-based tests by the Compensation Committee, as provided under their award agreements. The Company's Chief Executive Officer ("CEO") departed the Company effective as of May 12, 2019. In accordance with the terms of the CEO's employment and equity award agreements, the CEO was entitled to three times the then-current salary, payable over three years in normal payroll installments, except that any amount due prior to the six months after his departure, will be paid in a lump sum after such six-month period. Such amounts will be reduced by any compensation earned with any subsequent employer or otherwise and will be subject to the CEO's compliance with a one-year non-competition and non-solicitation covenant. Further, as a result of this departure, the time-vesting component of the CEO's equity-based awards accelerated, including (i) stock options (which currently are “underwater”), (ii) PSU awards which had previously met the related performance-based test, had been certified by the Compensation Committee, and remained subject solely to time-vesting, and (iii) PSU awards (assuming target level of performance) which remain subject to attainment of any performance goals and the certification of the applicable performance-based tests by the Compensation Committee, as provided under his award agreements. The CEO was also party to a supplemental executive retirement benefit agreement (“SERP”) and a related escrow agreement, pursuant to which the CEO was entitled to receive a supplemental retirement benefit as a result of the separation from service from the Company. Pursuant to the SERP, as a result of the separation from service with the Company as of May 12, 2019 being treated as a termination without cause, the CEO is entitled to a lump sum payment equal to the present value of an annual amount equal to 50% of the CEO's annual base salary on the date of termination of employment if such annual amount were paid for a period of 10 years in accordance with the Company’s normal payroll practices, subject to the CEO's timely execution and non-revocation of a release of claims in favor of the Company, which will be paid on the first business day following the six-month anniversary of the CEO's termination of service. Although the SERP provides that the CEO will be protected from any impact resulting from the possible application of Section 409A of the Code to the terms of the SERP due to the complexities surrounding Section 409A, the Company believes that no such payment will be required. The Company has expensed pre-tax charges related to both the transition of Messrs. Eisenberg and Feinstein to the role of Co-Founders and Co-Chairmen Emeriti of the Board of Directors of the Company and the departure of the Company's CEO of approximately $34.8 million . In addition, the Company maintains employment agreements with other executives which provide for severance pay and, in some instances, certain other supplemental retirement benefits. The Company records an estimated liability related to its various claims and legal actions arising in the ordinary course of business when and to the extent that it concludes a liability is probable and the amount of the loss can be reasonably estimated. Such estimated loss is based on available information and advice from outside counsel, where appropriate. As additional information becomes available, the Company reassesses the potential liability related to claims and legal actions and revises its estimated liabilities, as appropriate. The Company expects the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or liquidity. The Company also cannot predict the nature and validity of claims which could be asserted in the future, and future claims could have a material impact on its earnings.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Jun. 01, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements	In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . This guidance requires an entity to recognize lease liabilities and a right-of-use asset for all leases on the balance sheet and to disclose key information about the entity's leasing arrangements. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with earlier adoption permitted. In July 2018, the FASB approved an amendment to the new guidance that allows companies the option of using the effective date of the new standard as the initial application (at the beginning of the period in which it is adopted, rather than at the beginning of the earliest comparative period) and to recognize the effects of applying the new ASU as a cumulative effect adjustment to the opening balance sheet or retained earnings. The Company adopted this accounting standard at the beginning of the first quarter of fiscal 2019 using the new transition election to not restate comparative periods. The Company elected the package of practical expedients upon adoption, which permits the Company to not reassess under the new standard the Company's prior conclusions about lease identification, lease classification and initial direct costs. In addition, the Company elected not to separate lease and non-lease components for all real estate leases and did not elect the hindsight practical expedient. Lastly, the Company elected the short-term lease exception policy, permitting it to exclude the recognition requirements of this standard from leases with initial terms of 12 months or less. Upon adoption, the Company recognized operating lease assets of approximately $2.0 billion and operating lease liabilities of approximately $2.2 billion on its consolidated balance sheet. In addition, upon adoption deferred rent and various lease incentives which were recorded as of March 2, 2019 were reclassified as a component of the right-of-use assets. Upon adoption, the Company recognized a cumulative adjustment decreasing opening retained earnings by approximately $40.7 million due to the impairment of certain right-of-use assets. The adoption of the new standard did not have a material impact on the consolidated statements of operations or cash flows.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Jun. 01, 2019
Investments, Debt and Equity Securities [Abstract]
Investment Securities	The Company's investment securities as of June 1, 2019 and March 2, 2019 are as follows: (in millions) June 1, 2019 March 2, 2019 Available-for-sale securities: Long term $ 20.6 $ 19.9 Held-to-maturity securities: Short term 201.7 485.8 Total investment securities $ 222.3 $ 505.7

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 01, 2019
Leases [Abstract]
Schedule of Lease Cost	The Company's lease terms and discount rates are as follows: June 1, 2019 Weighted-average remaining lease term (in years) Operating leases 6.0 Finance leases 26.4 Weighted-average discount rate Operating leases 6.1 % Finance leases 8.9 % Other information for the Company's leases is as follows: (in thousands) Three months ended June 1, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 166,514 Operating cash flows from finance leases 2,580 Operating lease assets obtained in exchange for new operating lease liabilities 109,647 The components of total lease cost for the three months ended June 1, 2019, were as follows. (in thousands) Statement of Operations Location Three months ended June 1, 2019 Operating lease cost Cost of sales and SG&A $ 143,900 Finance lease cost: Depreciation of property SG&A 648 Interest on lease liabilities Interest expense, net 2,222 Variable lease cost Cost of sales and SG&A 47,895 Sublease income SG&A (278 ) Total lease cost $ 194,387
Assets and Liabilities Related to Operating and Finance Leases	As of June 1, 2019, assets and liabilities related to the Company's operating and finance leases are as follows: (in thousands) Consolidated Balance Sheet Location June 1, 2019 Assets Operating leases Operating lease assets $ 1,990,963 Finance leases Property and equipment, net 71,231 Total Lease assets $ 2,062,194 Liabilities Current: Operating leases Current operating lease liabilities $ 410,417 Finance leases Accrued expenses and other current liabilities 1,511 Noncurrent: Operating leases Operating lease liabilities 1,775,081 Finance leases Other liabilities 103,581 Total lease liabilities $ 2,290,590
Schedule of Lease Liabilities, Operating	As of June 1, 2019, the Company's lease liabilities mature as follows: (in thousands) Operating Leases Finance Leases Fiscal Year: Remainder of 2019 $ 390,167 $ 7,811 2020 548,353 10,469 2021 450,764 10,434 2022 352,797 10,407 2023 259,691 10,524 Thereafter 642,185 259,584 Total lease payments $ 2,643,957 $ 309,229 Less imputed interest (458,459 ) (204,137 ) Present value of lease liabilities $ 2,185,498 $ 105,092
Schedule of Lease Liabilities, Finance	As of June 1, 2019, the Company's lease liabilities mature as follows: (in thousands) Operating Leases Finance Leases Fiscal Year: Remainder of 2019 $ 390,167 $ 7,811 2020 548,353 10,469 2021 450,764 10,434 2022 352,797 10,407 2023 259,691 10,524 Thereafter 642,185 259,584 Total lease payments $ 2,643,957 $ 309,229 Less imputed interest (458,459 ) (204,137 ) Present value of lease liabilities $ 2,185,498 $ 105,092
Schedule of Future Minimum Rental Payments Under Non-cancelable Operating Leases	As of March 2, 2019, future minimum lease payments under non-cancelable operating leases were as follows: (in thousands) Operating Leases Fiscal Year: 2019 609,613 2020 534,055 2021 434,908 2022 334,587 2023 241,863 Thereafter 616,170 Total future minimum lease payments 2,771,196

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jun. 01, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of the stock options granted was estimated on the date of the grant using a Black-Scholes option-pricing model that uses the assumptions noted in the following table. Three Months Ended Black-Scholes Valuation Assumptions (1) June 1, 2019 June 2, 2018 Weighted Average Expected Life (in years) (2) 7.6 6.7 Weighted Average Expected Volatility (3) 39.41 % 34.96 % Weighted Average Risk Free Interest Rates (4) 2.39 % 2.92 % Expected Dividend Yield (5) 4.34 % 3.80 % (1) Forfeitures are estimated based on historical experience. (2) The expected life of stock options is estimated based on historical experience. (3) Expected volatility is based on the average of historical and implied volatility. The historical volatility is determined by observing actual prices of the Company's stock over a period commensurate with the expected life of the awards. The implied volatility represents the implied volatility of the Company's call options, which are actively traded on multiple exchanges, had remaining maturities in excess of twelve months, had market prices close to the exercise prices of the employee stock options and were measured on the stock option grant date. (4) Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of the stock options. (5) Expected dividend yield is estimated based on anticipated dividend payouts.
Share-based Compensation, Stock Options, Activity	Changes in the Company's stock options for the three months ended June 1, 2019 were as follows: (Shares in thousands) Number of Stock Options Weighted Average Exercise Price Options outstanding, beginning of period 4,395 $ 47.53 Granted 144 15.68 Exercised — — Forfeited or expired (674 ) 46.00 Options outstanding, end of period 3,865 $ 46.61 Options exercisable, end of period 2,421 $ 57.95
Schedule of Share-based Compensation, Restricted Stock Awards Activity	Changes in the Company's restricted stock for the three months ended June 1, 2019 were as follows: (Shares in thousands) Number of Restricted Shares Weighted Average Grant-Date Fair Value Unvested restricted stock, beginning of period 3,747 $ 41.73 Granted 428 15.71 Vested (510 ) 52.18 Forfeited (138 ) 38.20 Unvested restricted stock, end of period 3,527 $ 37.20
Share-based Compensation, Performance Stock Units Activity	Changes in the Company's PSUs for the three months ended June 1, 2019 were as follows: (Shares in thousands) Number of Performance Stock Units Weighted Average Grant-Date Fair Value Unvested performance stock units, beginning of period 2,082 $ 27.16 Granted 77 15.68 Vested (547 ) 34.91 Forfeited or performance condition adjustments (979 ) 24.19 Unvested performance stock units, end of period 633 $ 23.66

Basis of Presentation (Details

Basis of Presentation (Details Textual)	3 Months Ended
	Jun. 01, 2019segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	Jun. 01, 2019	Mar. 03, 2019	Mar. 04, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets	$ 1,990,963
Present value of lease liabilities	$ 2,185,498
Cumulative adjustment decreasing opening balance of retained earnings		$ 40,700	$ 4,221
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Leases with initial terms (in years)		12 months
Right-of-use assets		$ 2,000,000
Present value of lease liabilities		2,200,000
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment decreasing opening balance of retained earnings		40,700	$ 4,221
Retained Earnings [Member] | ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment decreasing opening balance of retained earnings		$ 40,700

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Revenue Recognition [Line Items]
Net sales for gift card and merchandise credit redemptions	$ 50.6
Liability for estimated returns	86.7
Right of return asset for merchandise	$ 52
Revenue Benchmark [Member] | Domestic Merchandise [Member] | Product Concentration Risk [Member]
Revenue Recognition [Line Items]
Percentage of net sales	35.60%	36.00%
Revenue Benchmark [Member] | Home Furnishings [Member] | Product Concentration Risk [Member]
Revenue Recognition [Line Items]
Percentage of net sales	64.40%	64.00%

Fair Value Measurements (Detail

Fair Value Measurements (Details Textual) $ in Millions	Jun. 01, 2019USD ($)
Fair Value Disclosures [Abstract]
Long-term debt, fair value	$ 1,151
Long-term debt	$ 1,495

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details Textual) - USD ($) $ in Millions	Jun. 01, 2019	Mar. 02, 2019
Cash and Cash Equivalents [Abstract]
Credit and debit card receivables from banks	$ 86.8	$ 92.9

Investment Securities - Summary

Investment Securities - Summary of Investment Securities (Details) - USD ($) $ in Millions	Jun. 01, 2019	Mar. 02, 2019
Available-for-sale securities:
Long term	$ 20.6	$ 19.9
Held-to-maturity securities:
Short term	201.7	485.8
Total investment securities	$ 222.3	$ 505.7

Investment Securities (Details

Investment Securities (Details Textual) - USD ($) $ in Millions	Jun. 01, 2019	Mar. 02, 2019
Debt Securities, Available-for-sale [Line Items]
Short term held-to-maturity securities	$ 201.7	$ 485.8
Auction Rate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Long term available-for-sale investment securities	20.3	20.3
Valuation adjustments	$ 0.3	$ (0.4)

Property and Equipment (Details

Property and Equipment (Details Textual) - USD ($) $ in Billions	Jun. 01, 2019	Mar. 02, 2019
Property, Plant and Equipment [Abstract]
Accumulated depreciation	$ 3.6	$ 3.5

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 01, 2019agreement	Jun. 02, 2018	Mar. 02, 2019USD ($)
Lessee, Lease, Description [Line Items]
Renewal option, operating (in years)	5 years
Capital lease obligations			$ 3.8
2019			0.9
2020			0.8
2021			0.7
2022			0.6
2023			0.6
Thereafter			1
Number of sale leaseback agreements | agreement	2
Amount due under financing arrangement			101.7
2019			0.8
2020			0.9
2021			0.9
2022			1
2023			1
Thereafter			$ 75.4
Sales Leaseback Agreement One [Member]
Lessee, Lease, Description [Line Items]
Lease amortization period (in years)	32 years
Interest rate, percentage		7.20%
Sales Leaseback Agreement Two [Member]
Lessee, Lease, Description [Line Items]
Lease amortization period (in years)	37 years
Interest rate, percentage		10.60%
Minimum [Member]
Lessee, Lease, Description [Line Items]
Original lease terms, operating (in years)	10 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Original lease terms, operating (in years)	15 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) $ in Thousands	3 Months Ended
	Jun. 01, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 143,900
Depreciation of property	648
Interest on lease liabilities	2,222
Variable lease cost	47,895
Sublease income	(278)
Total lease cost	$ 194,387

Leases - Schedule of Lease Asse

Leases - Schedule of Lease Assets and Liabilities (Details) $ in Thousands	Jun. 01, 2019USD ($)
Assets [Abstract]
Operating leases	$ 1,990,963
Finance leases	71,231
Total Lease assets	2,062,194
Current:
Operating leases	410,417
Finance leases	1,511
Noncurrent:
Operating leases	1,775,081
Finance leases	103,581
Total lease liabilities	$ 2,290,590

Leases - Future Minimum Payment

Leases - Future Minimum Payments (Details) $ in Thousands	Mar. 02, 2019USD ($)
Leases [Abstract]
2019	$ 609,613
2020	534,055
2021	434,908
2022	334,587
2023	241,863
Thereafter	616,170
Total future minimum lease payments	$ 2,771,196

Leases - Schedule of Lease Matu

Leases - Schedule of Lease Maturities (Details) $ in Thousands	Jun. 01, 2019USD ($)
Operating Leases
Remainder of 2019	$ 390,167
2020	548,353
2021	450,764
2022	352,797
2023	259,691
Thereafter	642,185
Total lease payments	2,643,957
Less imputed interest	(458,459)
Present value of lease liabilities	2,185,498
Finance Leases
Remainder of 2019	7,811
2020	10,469
2021	10,434
2022	10,407
2023	10,524
Thereafter	259,584
Total lease payments	309,229
Less imputed interest	(204,137)
Present value of lease liabilities	$ 105,092

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Jun. 01, 2019
Weighted-average remaining lease term (in years)
Operating leases	6 years
Finance leases	26 years 4 months 24 days
Weighted-average discount rate
Operating leases	6.10%
Finance leases	8.90%

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) $ in Thousands	3 Months Ended
	Jun. 01, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 166,514
Operating cash flows from finance leases	2,580
Operating lease assets obtained in exchange for new operating lease liabilities
Operating lease assets obtained in exchange for new operating lease liabilities	$ 109,647

Goodwill and Other Indefinite_2

Goodwill and Other Indefinite Lived Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 01, 2019	Mar. 02, 2019
Goodwill [Line Items]
Non-cash pre-tax tradename impairment charge impairment charge	$ 10.2
Indefinite lived tradenames and trademarks	133.6	$ 143.8
North American Retail [Member]
Goodwill [Line Items]
Non-cash pre-tax goodwill impairment charges	$ 391.1	285.1
Institutional Sales [Member]
Goodwill [Line Items]
Non-cash pre-tax goodwill impairment charges		$ 40.1

Long Term Debt - Senior Unsecur

Long Term Debt - Senior Unsecured Notes (Details) - Senior Unsecured Notes [Member] - USD ($)	12 Months Ended
	Mar. 02, 2019	Jul. 17, 2014
Debt Instrument [Line Items]
Purchased and retired senior unsecured notes	$ 4,600,000
The 2024 Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount		$ 300,000,000
Debt instrument, interest rate, stated percentage		3.749%
The 2034 Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount		$ 300,000,000
Debt instrument, interest rate, stated percentage		4.915%
The 2044 Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount		$ 900,000,000
Debt instrument, interest rate, stated percentage		5.165%

Long Term Debt - Revolving Cred

Long Term Debt - Revolving Credit Agreement (Details) - USD ($)	Nov. 14, 2017	Jun. 01, 2019	Jun. 02, 2018
Senior Unsecured Notes and Revolver [Member]
Debt Instrument [Line Items]
Interest expense		$ 18,200,000	$ 18,200,000
Revolving Credit Facility [Member] | Revolver [Member]
Debt Instrument [Line Items]
Senior unsecured revolving credit facility	$ 250,000,000
Debt instrument term (in years)	5 years
Revolving Credit Facility [Member] | New Revolver [Member]
Debt Instrument [Line Items]
Senior unsecured revolving credit facility	$ 250,000,000
Debt instrument term (in years)	5 years
Other Assets [Member] | Senior Unsecured Notes and Revolver [Member]
Debt Instrument [Line Items]
Deferred financing costs	$ 10,500,000

Long Term Debt - Lines of Credi

Long Term Debt - Lines of Credit (Details)	Jun. 01, 2019USD ($)line_of_credit
Debt Instrument [Line Items]
Number of uncommitted lines of credit | line_of_credit	2
Uncommitted Line of Credit Expiring August 30, 2019 [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity per line	$ 100,000,000
Uncommitted Line of Credit Expiring February 23, 2020 [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity per line	$ 100,000,000

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Jul. 08, 2019	Jun. 01, 2019	Jun. 02, 2018	Jun. 01, 2019	Sep. 30, 2015
Subsequent Event [Line Items]
Share repurchase program authorized amount					$ 11,950,000
Shares repurchased		5.3		215.6
Repurchase of common stock, including fees		$ 81,495	$ 22,110	$ 10,700,000
Remaining authorized share repurchase amount under program		1,300,000		$ 1,300,000
Total cash dividends paid		$ 21,894	$ 21,414
Dividends declared per share (in dollars per share)		$ 0.17	$ 0.16
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.17

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 19.3	$ 23.6
Stock-based compensation expense, after tax	$ 17	$ 15.9
Stock-based compensation expense, after tax, per diluted share	$ 0.13	$ 0.12
Stock-based compensation cost capitalized	$ 0.3	$ 0.7

Stock-Based Compensation - Ince

Stock-Based Compensation - Incentive Compensation Plans (Details)	3 Months Ended
	Jun. 01, 2019shares
The 2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares authorized for issuance (in shares)	43,200,000
The 2012 Plan [Member] | Employee Stock Options and Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of equal annual installments	5
Vesting period commencement minimum (in years)	1 year
The 2012 Plan [Member] | Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
2018 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate share reserve (in shares)	4,600,000
The 2012 and 2018 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares authorized for issuance (in shares)	47,800,000
Minimum [Member] | The 2012 Plan [Member] | Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Minimum [Member] | The 2012 Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of equal annual installments	3
Maximum [Member] | The 2012 Plan [Member] | Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Maximum [Member] | The 2012 Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of equal annual installments	5

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options (Details)	3 Months Ended
	Jun. 01, 2019USD ($)$ / shares	Jun. 02, 2018USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested stock options	$ 10,400,000
Weighted average remaining contractual term (in years)	4 years 4 months 24 days
Aggregate intrinsic value for options outstanding	$ 0
Weighted average remaining contractual term for options exercisable (in years)	3 years 3 months 18 days
Aggregate intrinsic value of options exercisable	$ 0
Number of stock options exercised	$ 0	$ 0
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition, weighted average period (in years)	2 years 1 month 6 days
The 2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value for stock options granted (in dollars per share) | $ / shares	$ 4.18	$ 4.31
The 2012 Plan [Member] | Employee Stock Option Issued Since May 10, 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period commencement (in years)	1 year
Share-based compensation arrangement by share-based payment award, expiration period (in years)	8 years
Minimum [Member] | The 2012 Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of equal annual installments	3
Maximum [Member] | The 2012 Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of equal annual installments	5

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions Used to Estimate the Black-scholes Fair Value of Stock Options Granted (Details) - Share-based Payment Arrangement, Option [Member]	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Expected Life (in years)	7 years 7 months 6 days	6 years 8 months 12 days
Weighted Average Expected Volatility	39.41%	34.96%
Weighted Average Risk Free Interest Rates	2.39%	2.92%
Expected Dividend Yield	4.34%	3.80%

Stock-Based Compensation - Chan

Stock-Based Compensation - Changes in the Company's Stock Options (Details) shares in Thousands	3 Months Ended
	Jun. 01, 2019$ / sharesshares
Number of Stock Options
Options outstanding, beginning of period, Number of Stock Options (in shares) | shares	4,395
Granted, Number of Stock Options (in shares) | shares	144
Exercised, Number of Stock Options (in shares) | shares	0
Forfeited or expired, Number of Stock Options (in shares) | shares	(674)
Options outstanding, end of period, Number of Stock Options (in shares) | shares	3,865
Options exercisable, end of period, Number of Stock Options (in shares) | shares	2,421
Weighted Average Exercise Price
Options outstanding, beginning of period, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 47.53
Granted, Weighted Average Exercise Price (in dollars per share) | $ / shares	15.68
Exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares	0
Forfeited or expired, Weighted Average Exercise Price (in dollars per share) | $ / shares	46
Options outstanding, end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares	46.61
Options exercisable, end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 57.95

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock (Details) - Restricted Stock [Member] $ in Millions	3 Months Ended
	Jun. 01, 2019USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested restricted stock	$ 101.7
Period for recognition, weighted average period (in years)	4 years 1 month 6 days
The 2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period commencement minimum (in years)	1 year
Vesting period commencement maximum (in years)	3 years
Minimum [Member] | The 2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of equal annual installments	5
Maximum [Member] | The 2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of equal annual installments	7

Stock-Based Compensation - Ch_2

Stock-Based Compensation - Changes in the Company's Restricted Stock (Details) - Restricted Stock [Member] shares in Thousands	3 Months Ended
	Jun. 01, 2019$ / sharesshares
Number of Restricted Shares
Unvested shares, beginning of period (in shares) | shares	3,747
Granted (in shares) | shares	428
Vested (in shares) | shares	(510)
Forfeited, (in shares) | shares	(138)
Unvested shares, end of period (in shares) | shares	3,527
Weighted Average Grant-Date Fair Value
Unvested shares, Weighted Average Grant Date Fair Value, beginning of period (in dollars per share) | $ / shares	$ 41.73
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	15.71
Vested, Weighted Average Grant Date Fair Value ( in dollars per share) | $ / shares	52.18
Forfeited, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	38.20
Unvested shares, Weighted Average Grant Date Fair Value, end of period (in dollars per share) | $ / shares	$ 37.20

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Stock Units (Details) - Performance Stock Units [Member] $ in Millions	3 Months Ended
	Jun. 01, 2019USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to unvested performance stock units	$ 16.9
Period for recognition, weighted average period (in years)	1 year 9 months 18 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award percentage	150.00%
The 2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
The 2012 Plan [Member] | One-year Performance Period Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period commencement minimum (in years)	1 year
Vesting period commencement maximum (in years)	3 years
The 2012 Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Target award percentage	0.00%
The 2012 Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years

Stock-Based Compensation - Ch_3

Stock-Based Compensation - Changes in the Company's Performance Stock Units (Details) - Performance Stock Units [Member] shares in Thousands	3 Months Ended
	Jun. 01, 2019$ / sharesshares
Number of Performance Stock Units
Unvested shares, beginning of period (in shares) | shares	2,082
Granted (in shares) | shares	77
Vested (in shares) | shares	(547)
Forfeited or performance condition adjustments, (in shares) | shares	(979)
Unvested shares, end of period (in shares) | shares	633
Weighted Average Grant-Date Fair Value
Unvested shares, Weighted Average Grant Date Fair Value, beginning of period (in dollars per share) | $ / shares	$ 27.16
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	15.68
Vested, Weighted Average Grant Date Fair Value ( in dollars per share) | $ / shares	34.91
Forfeited or performance condition adjustments, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	24.19
Unvested shares, Weighted Average Grant Date Fair Value, end of period (in dollars per share) | $ / shares	$ 23.66

Earnings per Share (Details Tex

Earnings per Share (Details Textual) - shares shares in Millions	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Earnings Per Share [Abstract]
Anti-dilutive stock-based awards excluded from computation of diluted earnings per share	7.7	8.5

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jun. 01, 2019	Jun. 02, 2018
Supplemental Cash Flow Information [Abstract]
Income taxes paid	$ 3.8	$ 3.2
Interest payments	2.2	2.2
Accrual for capital expenditures	35.8	28
Accrual for dividends payable	$ 28	$ 26.3

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Millions	May 12, 2019	Jun. 01, 2019
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 34.8	$ 3.9
Restructuring charges paid		$ 2.3

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	May 12, 2019	Jun. 01, 2019
Commitments and Contingencies Disclosure [Abstract]
Percentage of base salary	50.00%
Payment term (in years)	10 years
Restructuring charges expensed	$ 34.8	$ 3.9