Annual report [Section 13 and 15(d), not S-K Item 405]

Quarterly Financial Information (Unaudited) (Tables)

v3.25.1
Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Feb. 01, 2025
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Information
The following table sets forth certain items from the Company’s unaudited consolidated statements of operations for each quarter of fiscal year 2024 and 2023. The unaudited information has been prepared on the same basis as the audited consolidated financial statements appearing elsewhere in this report that reflect the results of Family Dollar as discontinued operations and includes all adjustments, consisting only of normal recurring adjustments, which management considers necessary for a fair presentation of the financial data shown. The operating results for any quarter are not necessarily indicative of results for a full year or for any future period.
(in millions, except per share data) First
Quarter		 Second
Quarter		 Third
Quarter		 Fourth
Quarter
Fiscal 2024:
Net sales $ 4,165.6  $ 4,065.5  $ 4,338.0  $ 4,996.7 
Gross profit $ 1,476.5  $ 1,391.3  $ 1,534.1  $ 1,879.8 
Income from continuing operations, net of tax $ 267.7  $ 142.3  $ 232.3  $ 400.2 
Income (loss) from discontinued operations, net of tax(1)
$ 32.4  $ (9.9) $ 1.0  $ (4,096.1)
Net income (loss) $ 300.1  $ 132.4  $ 233.3  $ (3,695.9)
Basic earnings (loss) per share of common stock:
Continuing operations $ 1.23  $ 0.66  $ 1.09  $ 1.86 
Discontinued operations 0.15  (0.04) —  (19.04)
Total basic earnings (loss) per share of common stock $ 1.38  $ 0.62  $ 1.09  $ (17.18)
Diluted earnings (loss) per share of common stock:
Continuing operations $ 1.23  $ 0.66  $ 1.08  $ 1.86 
Discontinued operations 0.15  (0.04) —  (19.03)
Total diluted earnings (loss) per share of common stock $ 1.38  $ 0.62  $ 1.08  $ (17.17)
Fiscal 2023:
Net sales $ 3,931.7  $ 3,873.4  $ 4,003.8  $ 4,961.4 
Gross profit $ 1,388.7  $ 1,293.2  $ 1,393.8  $ 1,933.2 
Income from continuing operations, net of tax $ 291.6  $ 186.8  $ 255.0  $ 532.4 
Income (loss) from discontinued operations, net of tax(2)
$ 7.4  $ 13.6  $ (43.0) $ (2,242.2)
Net income (loss) $ 299.0  $ 200.4  $ 212.0  $ (1,709.8)
Basic earnings (loss) per share of common stock:
Continuing operations $ 1.32  $ 0.85  $ 1.16  $ 2.44 
Discontinued operations 0.03  0.06  (0.19) (10.29)
Total basic earnings (loss) per share of common stock $ 1.35  $ 0.91  $ 0.97  $ (7.85)
Diluted earnings (loss) per share of common stock:
Continuing operations $ 1.32  $ 0.85  $ 1.16  $ 2.44 
Discontinued operations 0.03  0.06  (0.19) (10.27)
Total diluted earnings (loss) per share of common stock $ 1.35  $ 0.91  $ 0.97  $ (7.83)
(1) Income (loss) from discontinued operations, net of tax in the fourth quarter of fiscal 2024 includes the following charges: $1,400.0 million trade name impairment, $490.5 million goodwill impairment, $80.2 million of long-lived asset impairments and a $3,438.8 million loss from classification to held for sale. See Note 15 for further detail.
(2) Income (loss) from discontinued operations, net of tax in the fourth quarter of fiscal 2023 includes the following charges: $950.0 million trade name impairment, $1,069.0 million goodwill impairment, $500.6 million of long-lived asset impairments, and $80.6 million of inventory markdowns and $5.6 million of capitalized distribution costs impairment from store closures. See Note 15 for further detail.