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Long-term Debt and Borrowing Facility - Revolving Facility and Letters of Credit Narrative (Details) - Revolving Credit Facility Expiring August 2026 $ in Millions	3 Months Ended
	Feb. 01, 2025 USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 750
Line of credit, current borrowing base	553
Long-term line of credit	0
Line of credit facility, remaining borrowing capacity	$ 542
Line of credit facility, unused capacity, commitment fee percentage	0.30%
Line of credit facility, commitment fee percentage	1.25%
Line of credit financial covenant, fixed charge coverage ratio	1.00
Line of credit financial covenant, maximum borrowing amount	$ 70
Line of credit financial covenant, percentage of maximum borrowing amount	0.10
Revolving Credit Facility \| Credit Spread Adjustment
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.10%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount	$ 11

Shareholders' Equity (Deficit) - Schedule of Repurchase of Common Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023	Jan. 31, 2024	Feb. 02, 2022
February 2022 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 1,500
Shares Repurchased	842	4,096
Amount Repurchased	$ 39	$ 149
Average Stock Price (in dollars per share)	$ 46.08	$ 36.38
February 2022 Repurchase Program, Accelerated Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Amount Repurchased			$ 1,000
January 2024 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount				$ 500
Shares Repurchased	9,583
Amount Repurchased	$ 361
Average Stock Price (in dollars per share)	$ 37.70

Leases - Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions

12 Months Ended

Feb. 01, 2025

Feb. 03, 2024

Jan. 28, 2023

Leases [Abstract]

Cash paid for Operating Lease Liabilities

^[1]

$ 279

$ 280

$ 249

Lease Assets obtained as a result of new or modified Lease Liabilities, net of terminations

$ 91

$ 185

$ 207

[1]	These payments are included within the Operating Activities section of the Consolidated Statements of Cash Flows.

Consolidated Balance Sheets - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024
Current Assets:
Cash and Cash Equivalents	$ 674	$ 1,084
Accounts Receivable, Net	205	224
Inventories	734	710
Easton Assets Held for Sale	96	0
Other	114	97
Total Current Assets	1,823	2,115
Property and Equipment, Net	1,127	1,220
Operating Lease Assets	949	1,056
Goodwill	628	628
Trade Name	165	165
Deferred Income Taxes	130	144
Other Assets	50	135
Total Assets	4,872	5,463
Current Liabilities:
Accounts Payable	338	380
Accrued Expenses and Other	584	608
Current Operating Lease Liabilities	192	181
Income Taxes	117	120
Total Current Liabilities	1,231	1,289
Deferred Income Taxes	24	147
Long-term Debt	3,884	4,388
Long-term Operating Lease Liabilities	883	1,004
Other Long-term Liabilities	233	261
Shareholders’ Equity (Deficit):
Preferred Stock—$1.00 par value; 10 shares authorized; none issued	0	0
Common Stock—$0.50 par value; 1,000 shares authorized; 231 and 240 shares issued; 216 and 225 shares outstanding, respectively	115	120
Paid-in Capital	829	838
Accumulated Other Comprehensive Income	71	75
Retained Earnings (Accumulated Deficit)	(1,578)	(1,838)
Less: Treasury Stock, at Average Cost; 15 and 15 shares, respectively	(822)	(822)
Total Shareholders’ Equity (Deficit)	(1,385)	(1,627)
Noncontrolling Interest	2	1
Total Equity (Deficit)	(1,383)	(1,626)
Total Liabilities and Equity (Deficit)	$ 4,872	$ 5,463

Share-based Compensation

12 Months Ended

Feb. 01, 2025

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Share-based Compensation

Plan Summary

In 2020, the Company’s stockholders approved the 2020 Stock Option and Performance Incentive Plan (“2020 Plan”). The 2020 Plan replaced the 2015 Stock Option and Performance Incentive Plan (together with the 2020 Plan, the “Plans”). The Plans provide for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, restricted stock, performance share units and unrestricted shares. Historically, the Company granted stock options at a price equal to the fair market value of the stock on the date of grant. Stock options have a maximum term of 10 years. Stock options and restricted stock units generally vest over three-to-five-years. Performance share units generally cliff vest at the end of a three-year performance period based upon the Company’s achievement of pre-established goals over the performance period.

Under the Plans, 206 million options, restricted and unrestricted shares have been authorized to be granted to associates and directors. There were 12 million shares of common stock available for future issuance under the Plans as of February 1, 2025.

Income Statement Impacts

The following table provides Share-based Compensation Expense included in the Consolidated Statements of Income for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Costs of Goods Sold, Buying and Occupancy	$	11	$	13	$	14
General, Administrative and Store Operating Expenses	29		30		24
Total Share-based Compensation Expense	$	40	$	43	$	38

There was no incremental tax expense associated with share-based compensation in 2024 and $1 million for 2023. The tax benefit associated with recognized share-based compensation expense was $7 million for 2022.

Restricted Stock Units and Performance Share Units

The following table provides the Company’s restricted stock unit and performance share unit activity on a combined basis for the year ended February 1, 2025:


	Number of Shares	Weighted-average Grant Date Fair Value
	(in thousands)
Unvested as of February 3, 2024	2,580	$	41.49
Granted	1,031	44.65
Vested	(1,088)	44.05
Cancelled	(328)	41.65
Unvested as of February 1, 2025	2,195	$	41.69

The fair value of restricted stock unit and performance share unit awards is generally based on the market value of the Company’s common stock on the grant date adjusted for anticipated dividend yields. The weighted-average estimated fair value of awards granted was $44.65 per share for 2024, $35.93 per share for 2023 and $44.73 per share for 2022.

The Company’s total intrinsic value of awards that vested was $50 million for 2024, $31 million for 2023 and $88 million for 2022. The Company’s total fair value at grant date of awards that vested was $48 million for 2024 and $36 million for 2023 and 2022.

Tax benefits realized from tax deductions associated with awards that vested were $8 million for 2024, $6 million for 2023 and $14 million for 2022.

As of February 1, 2025, there was $36 million of total unrecognized compensation cost, net of estimated forfeitures, related to unvested restricted stock and performance share units. This cost is expected to be recognized over a weighted-average period of 1.5 years.

Long-Lived Assets (Tables)

12 Months Ended

Feb. 01, 2025

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

The following table provides details of Property and Equipment, Net as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Land and Improvements	$	87	$	90
Buildings and Improvements	323		319
Furniture, Fixtures, Software and Equipment	1,879		1,821
Leasehold Improvements	891		850
Construction in Progress	37		43
Total	3,217		3,123
Accumulated Depreciation and Amortization	(2,090)		(1,903)
Property and Equipment, Net	$	1,127	$	1,220

Share-based Compensation - Restricted Stock and Performance Share Units (Details) - Restricted Stock and Performance Share Units - $ / shares shares in Thousands	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Unvested as of Beginning of Period (in shares)	2,580
Granted (in shares)	1,031
Vested (in shares)	(1,088)
Cancelled (in shares)	(328)
Unvested as of End of Period (in shares)	2,195	2,580
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested as of Beginning of Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 41.49
Granted, Weighted Average Grant Date Fair Value (in dollars per share)	44.65	$ 35.93	$ 44.73
Vested, Weighted Average Grant Date Fair Value (in dollars per share)	44.05
Cancelled, Weighted Average Grant Date Fair Value (in dollars per share)	41.65
Unvested as of End of Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 41.69	$ 41.49

Income Taxes (Tables)

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The following table provides the components of the Company’s provision for income taxes for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Current:
U.S. Federal	$	281	$	214	$	180
U.S. State	54		49		48
Non-U.S.	8		7		8
Total	343		270		236
Deferred:
U.S. Federal	(121)		(19)		10
U.S. State	(6)		(2)		—
Non-U.S.	14		(106)		5
Total	(113)		(127)		15
Provision for Income Taxes	$	230	$	143	$	251

Reconciliation of the Statutory Federal Income Tax Rate and the Effective Tax Rate

The following table provides the reconciliation between the statutory federal income tax rate and the effective tax rate for 2024, 2023 and 2022:


	2024		2023		2022
Federal Income Tax Rate	21.0	%	21.0	%	21.0	%
State Income Taxes, Net of Federal Income Tax Effect	4.4	%	4.0	%	4.1	%
Impact of Non-U.S. Operations	0.9	%	0.2	%	0.1	%
Change in Valuation Allowance	(4.2	%)	(11.0	%)	—	%
Share-based Compensation	—	%	0.1	%	(0.7	%)
Uncertain Tax Positions	0.3	%	—	%	(0.7	%)
Other Items, Net	—	%	(0.4	%)	0.2	%
Effective Tax Rate	22.4	%	13.9	%	24.0	%

Effect of Temporary Differences that Cause Deferred Income Taxes

The following table provides the effect of temporary differences that cause deferred income taxes as of February 1, 2025 and February 3, 2024:


	February 1, 2025						February 3, 2024
	Assets		Liabilities		Total		Assets		Liabilities		Total
	(in millions)
Loss Carryforwards	$	367	$	—	$	367	$	390	$	—	$	390
Leases	260		(247)		13		280		(266)		14
Capitalized Research and Development	37		—		37		30		—		30
Share-based Compensation	8		—		8		9		—		9
Property and Equipment	7		(122)		(115)		5		(146)		(141)
Trade Names	—		(38)		(38)		—		(38)		(38)
Other Assets	—		(1)		(1)		—		(59)		(59)
Other, Net	55		(10)		45		56		(11)		45
Valuation Allowance	(210)		—		(210)		(253)		—		(253)
Total Deferred Income Taxes	$	524	$	(418)	$	106	$	517	$	(520)	$	(3)

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to the Company’s unrecognized tax benefits for U.S. federal, state and non-U.S. tax jurisdictions for 2024, 2023 and 2022, without interest and penalties:


	2024		2023		2022
	(in millions)
Gross Unrecognized Tax Benefits, as of the Beginning of the Fiscal Year	$	145	$	149	$	147
Increases to Unrecognized Tax Benefits for Prior Years	1		1		14
Decreases to Unrecognized Tax Benefits for Prior Years	(3)		(7)		(12)
Increases to Unrecognized Tax Benefits as a Result of Current Year Activity	12		5		6
Decreases to Unrecognized Tax Benefits Relating to Settlements with Taxing Authorities	—		(1)		(2)
Decreases to Unrecognized Tax Benefits as a Result of a Lapse of the Applicable Statute of Limitations	(6)		(2)		(4)
Gross Unrecognized Tax Benefits, as of the End of the Fiscal Year	$	149	$	145	$	149

Segment Reporting (Tables)

12 Months Ended

Feb. 01, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table illustrates significant segment expenses that are regularly provided to the CODM in 2024, 2023, and 2022:


	2024		2023		2022
	(in millions)
Net Sales	$	7,307	$	7,429	$	7,560
Cost of Goods Sold	(2,880)		(2,970)		(3,126)
Buying and Occupancy	(1,193)		(1,223)		(1,179)
Gross Profit	3,234		3,236		3,255
Selling Expenses	(1,191)		(1,177)		(1,205)
Marketing Expenses	(242)		(189)		(175)
General and Administrative Expenses	(535)		(585)		(499)
Operating Income	$	1,266	$	1,285	$	1,376

Leases (Tables)

12 Months Ended

Feb. 01, 2025

Leases [Abstract]

Schedule of Lease Cost

The following table provides the components of lease cost for operating leases for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Operating Lease Costs	$	267	$	254	$	238
Variable Lease Costs	108		107		107
Short-term Lease Costs	43		41		37
Total Lease Cost	$	418	$	402	$	382

Schedule of Future Maturities of Operating Lease Liabilities

The following table provides future maturities of operating lease liabilities as of February 1, 2025:


Fiscal Year	(in millions)
2025	$	248
2026	244
2027	192
2028	159
2029	130
Thereafter	312
Total Lease Payments	1,285
Less: Interest	(210)
Present Value of Operating Lease Liabilities	$	1,075

Weighted Average Remaining Lease Term and Discount Rate For Operating Lease Liabilities

The following table provides the weighted-average remaining lease term and discount rate for operating lease liabilities as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
Weighted-average Remaining Lease Term (years)	6.1		6.4
Weighted-average Discount Rate	5.8	%	5.6	%

Schedule of Supplemental Cash Flow Information Related to Leases

The following table provides supplemental cash flow information related to the Company’s operating leases for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Cash paid for Operating Lease Liabilities (a)	$	279	$	280	$	249
Lease Assets obtained as a result of new or modified Lease Liabilities, net of terminations	91		185		207

________________

(a)These payments are included within the Operating Activities section of the Consolidated Statements of Cash Flows.

Other Assets and Liabilities

12 Months Ended

Feb. 01, 2025

Other Assets and Liabilities [Abstract]

Other Assets and Liabilities

The following table provides additional information about the composition of Other Current Assets as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Prepaid Expenses	$	79	$	81
Other	35		16
Total Other Current Assets	$	114	$	97

The following table provides additional information about the composition of Accrued Expenses and Other as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Deferred Revenue	$	197	$	198
Compensation, Payroll Taxes and Benefits	78		114
Interest	63		58
Taxes, Other than Income	23		36
Rent	29		32
Accrued Claims on Self-insured Activities	34		34
Accrued Marketing	33		9
Other	127		127
Total Accrued Expenses and Other	$	584	$	608

Other Assets and Liabilities

The following table provides additional information about the composition of Other Current Assets as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Prepaid Expenses	$	79	$	81
Other	35		16
Total Other Current Assets	$	114	$	97

The following table provides additional information about the composition of Accrued Expenses and Other as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Deferred Revenue	$	197	$	198
Compensation, Payroll Taxes and Benefits	78		114
Interest	63		58
Taxes, Other than Income	23		36
Rent	29		32
Accrued Claims on Self-insured Activities	34		34
Accrued Marketing	33		9
Other	127		127
Total Accrued Expenses and Other	$	584	$	608

Income Taxes - Reconciliation of the Statutory Federal Income Tax Rate and the Effective Tax Rate (Details)	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Income Tax Disclosure [Abstract]
Federal Income Tax Rate	21.00%	21.00%	21.00%
State Income Taxes, Net of Federal Income Tax Effect	4.40%	4.00%	4.10%
Impact of Non-U.S. Operations	0.90%	0.20%	0.10%
Change in Valuation Allowance	(4.20%)	(11.00%)	0.00%
Share-based Compensation	0.00%	0.10%	(0.70%)
Uncertain Tax Positions	0.30%	0.00%	(0.70%)
Other Items, Net	0.00%	(0.40%)	0.20%
Effective Tax Rate	22.40%	13.90%	24.00%

Other Assets and Liabilities (Tables)

12 Months Ended

Feb. 01, 2025

Other Assets and Liabilities [Abstract]

Schedule of Other Current Assets

The following table provides additional information about the composition of Other Current Assets as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Prepaid Expenses	$	79	$	81
Other	35		16
Total Other Current Assets	$	114	$	97

Schedule of Accrued Liabilities

The following table provides additional information about the composition of Accrued Expenses and Other as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Deferred Revenue	$	197	$	198
Compensation, Payroll Taxes and Benefits	78		114
Interest	63		58
Taxes, Other than Income	23		36
Rent	29		32
Accrued Claims on Self-insured Activities	34		34
Accrued Marketing	33		9
Other	127		127
Total Accrued Expenses and Other	$	584	$	608

Shareholders' Equity (Deficit)

12 Months Ended

Feb. 01, 2025

Stockholders' Equity Note [Abstract]

Shareholders' Equity (Deficit)

Shareholders’ Equity (Deficit)

Common Stock Repurchases

2022 Share Repurchase Program

In February 2022, the Company’s Board of Directors (the “Board”) authorized a $1.5 billion share repurchase program (the “February 2022 Program”). Under the February 2022 Program, the Company repurchased the following shares of its common stock during 2024 and 2023:


Repurchase Program	Shares Repurchased		Amount Repurchased				Average Stock Price
	2024	2023	2024		2023		2024		2023
	(in thousands)		(in millions)
February 2022	842	4,096	$	39	$	149	$	46.08	$	36.38

The February 2022 Program had no remaining authority as of May 4, 2024. There were share repurchases of $1 million reflected in Accounts Payable on the February 3, 2024 Consolidated Balance Sheet.

2024 Share Repurchase Program

In January 2024, the Board authorized a $500 million share repurchase program (the “January 2024 Program”). Under the January 2024 Program, the Company repurchased the following shares of its common stock during 2024:


Repurchase Program	Shares Repurchased	Amount Repurchased		Average Stock Price
	(in thousands)	(in millions)
January 2024	9,583	$	361	$	37.70

The January 2024 Program had $139 million of remaining authority as of February 1, 2025. There were share repurchases of $1 million reflected in Accounts Payable on the February 1, 2025 Consolidated Balance Sheet.

2025 Share Repurchase Program

In January 2025, the Board authorized a new $500 million share repurchase program (the “January 2025 Program”). On February 27, 2025, the Company cancelled the remaining $121 million authorization available under the January 2024 Program and began repurchasing shares under the January 2025 Program.

Subsequent to February 1, 2025 through March 14, 2025, the Company repurchased an additional 1.5 million shares of its common stock for $53 million under the January 2024 and January 2025 Programs.

Common Stock Retirement

Shares of common stock repurchased under the February 2022 and January 2024 Programs are retired and cancelled upon repurchase. As a result, the Company retired the 10.425 million shares repurchased during 2024, which resulted in reductions of $5 million in the par value of Common Stock, $34 million in Paid-in Capital and $361 million in Retained Earnings (Accumulated Deficit). The Company retired the 4.096 million shares repurchased during 2023, which resulted in reductions of $2 million in the par value of Common Stock, $14 million in Paid-in Capital and $133 million in Retained Earnings (Accumulated Deficit).

Dividends

The Company paid the following dividends during 2024, 2023 and 2022:


	Ordinary Dividends			Total Paid
	(per share)		(in millions)
2024
First Quarter	$	0.20		$	45
Second Quarter	0.20			45
Third Quarter	0.20			44
Fourth Quarter	0.20			43
2024 Total	$	0.80		$	177
2023
First Quarter	$	0.20		$	46
Second Quarter	0.20			46
Third Quarter	0.20			45
Fourth Quarter	0.20			45
2023 Total	$	0.80		$	182
2022
First Quarter	$	0.20		$	48
Second Quarter	0.20			46
Third Quarter	0.20			46
Fourth Quarter	0.20			46
2022 Total	$	0.80		$	186

On March 7, 2025, the Company paid its first quarter 2025 ordinary dividend of $0.20 per share to stockholders of record at the close of business on February 21, 2025.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

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-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

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+ Details

Revenue Recognition

12 Months Ended

Feb. 01, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Accounts receivable, net from revenue-generating activities were $81 million as of February 1, 2025 and $84 million as of February 3, 2024. These accounts receivable primarily relate to amounts due from the Company’s franchise, license and wholesale partners. Under these arrangements, payment terms are typically 45 to 75 days.

The Company records deferred revenue when cash payments are received in advance of transfer of control of goods or services. Deferred revenue primarily relates to gift cards, loyalty points and rewards, and direct channel shipments not received by the customer, which are all impacted by seasonal and holiday-related sales patterns. Deferred revenue, which is recorded within Accrued Expenses and Other on the Consolidated Balance Sheets, was $197 million as of February 1, 2025 and $198 million as of February 3, 2024. The Company recognized $132 million as revenue in 2024 from amounts recorded as deferred revenue at the beginning of the Company’s fiscal year.

The following table provides a disaggregation of Net Sales for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Stores - U.S. and Canada (a)	$	5,534	$	5,507	$	5,476
Direct - U.S. and Canada	1,474		1,582		1,745
International (b)	299		340		339
Total Net Sales	$	7,307	$	7,429	$	7,560

_______________

(a)Results include fulfilled buy online pick up in store orders.

(b)Results include royalties associated with franchised stores and wholesale sales.

The Company’s Net Sales outside of the U.S. include sales from Company-operated stores and its e-commerce site in Canada, royalties associated with franchised stores and wholesale sales. Certain of these sales are subject to the impact of fluctuations in foreign currency. The Company’s Net Sales outside of the U.S. totaled $691 million in 2024, $723 million in 2023 and $707 million in 2022.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Long-term Debt and Borrowing Facility (Tables)

12 Months Ended

Feb. 01, 2025

Long-Term Debt, by Current and Noncurrent [Abstract]

Schedule of Long-term Debt Instruments

The following table provides the Company’s outstanding Long-term Debt balances, net of unamortized debt issuance costs and discounts, as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Senior Debt with Subsidiary Guarantee
$500 million, 9.375% Fixed Interest Rate Notes due July 2025 (“2025 Notes”)	$	—	$	313
$284 million, 6.694% Fixed Interest Rate Notes due January 2027 (“2027 Notes”)	277		287
$444 million, 5.250% Fixed Interest Rate Notes due February 2028 (“2028 Notes”)	443		460
$482 million, 7.500% Fixed Interest Rate Notes due June 2029 (“2029 Notes”)	476		492
$844 million, 6.625% Fixed Interest Rate Notes due October 2030 (“2030 Notes”)	838		930
$802 million, 6.875% Fixed Interest Rate Notes due November 2035 (“2035 Notes”)	796		806
$575 million, 6.750% Fixed Interest Rate Notes due July 2036 (“2036 Notes”)	571		608
Total Senior Debt with Subsidiary Guarantee	3,401		3,896
Senior Debt
$284 million, 6.950% Fixed Interest Rate Debentures due March 2033 (“2033 Notes”)	283		293
$201 million, 7.600% Fixed Interest Rate Notes due July 2037 (“2037 Notes”)	200		199
Total Senior Debt	483		492
Total Long-term Debt	$	3,884	$	4,388

Schedule of Principal Payments Due on Long-term Debt

The following table provides principal payments due on outstanding Long-term Debt in the next five fiscal years and the remaining years thereafter:


Fiscal Year	(in millions)
2025	$	—
2026	284
2027	—
2028	444
2029	482
Thereafter	2,705

Schedule of Long-Term Debt Repurchases

The following table provides details of the outstanding principal amounts of senior notes repurchased and extinguished during 2024 and 2023:


	2024		2023
	(in millions)
2025 Notes	$	314	$	6
2027 Notes	14		—
2028 Notes	17		38
2029 Notes	17		—
2030 Notes	94		62
2033 Notes	10		56
2035 Notes	10		189
2036 Notes	38		87
2037 Notes	—		47
Total	$	514	$	485

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Description of Business and Summary of Significant Accounting Policies

12 Months Ended

Feb. 01, 2025

Accounting Policies [Abstract]

Description of Business and Summary of Significant Accounting Policies

Description of Business

Bath & Body Works, Inc. (the “Company”) is a global omnichannel retailer focused on personal care and home fragrance. The Company sells merchandise through its retail stores in the United States of America (“U.S.”) and Canada, and through its websites and other channels, under the Bath & Body Works®, White Barn® and other brand names. The Company’s international business is conducted through franchise, license and wholesale partners.

Fiscal Year

The Company’s fiscal year ends on the Saturday nearest to January 31. The Company utilizes the retail calendar for reporting. As a result, “2024” refers to the 52-week period ended February 1, 2025, “2023” refers to the 53-week period ended February 3, 2024 and “2022” refers to the 52-week period ended January 28, 2023.

Basis of Consolidation

The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company accounts for investments in unconsolidated entities where it exercises significant influence, but does not have control, using the equity method. Under the equity method of accounting, the Company recognizes its share of the investee’s net income or loss. Losses are only recognized to the extent the Company has positive carrying value related to the investee. Carrying values are only reduced below zero if the Company has an obligation to provide funding to the investee. The Company’s share of net income or loss of all unconsolidated entities is included in Other Income in the Consolidated Statements of Income. The Company’s equity method investments are required to be reviewed for impairment when it is determined there may be an other-than-temporary loss in value.

On August 2, 2021, the Company completed the tax-free spin-off of its former Victoria’s Secret business, which included the Victoria’s Secret and PINK brands, into an independent publicly traded company (“Victoria’s Secret & Co.”). Accordingly, the operating results of, and fees to separate, the Victoria’s Secret business were reported in Income from Discontinued Operations, Net of Tax in the Consolidated Statements of Income in prior periods. In 2022, the Company recorded a $6 million tax benefit, reported in Income from Discontinued Operations, Net of Tax, related to an adjustment to the previously recorded tax expense from the spin-off.

Cash and Cash Equivalents

Cash and Cash Equivalents include cash on hand, deposits with financial institutions and highly liquid investments with original maturities of less than 90 days. The Company’s Cash and Cash Equivalents are considered Level 1 fair value measurements as they are valued using unadjusted quoted prices in active markets for identical assets. The Company’s outstanding checks are included in Accounts Payable on the Consolidated Balance Sheets.

Concentration of Credit Risk

The Company maintains cash and cash equivalents and derivative contracts with various major financial institutions. The Company monitors the relative credit standing of financial institutions with whom it transacts and limits the amount of credit exposure with any one entity. The Company’s investment portfolio is primarily composed of U.S. government obligations, U.S. Treasury and AAA-rated money market funds, commercial paper and bank deposits.

The Company also periodically reviews the relative credit standing of franchise, license and wholesale partners and other entities to which it grants credit terms in the normal course of business. The Company determines the required allowance for expected credit losses using information such as customer credit history and financial condition. Amounts are recorded to the allowance when it is determined that expected credit losses may occur.

Inventories

Inventories are principally valued at the lower of cost or net realizable value, on an average cost basis.

The Company records valuation adjustments to its inventories if the cost of inventory on hand exceeds the amount it expects to realize from the ultimate sale or disposal of the inventory. These estimates are based on management’s judgment regarding future demand and market conditions and analysis of historical experience.

The Company also records inventory loss adjustments for estimated physical inventory losses that have occurred since the date of the last physical inventory. These estimates are based on management’s analysis of historical results and current operating trends.

Advertising Costs

Advertising and marketing costs are expensed at the time the promotion first appears in media, in the store or when the advertising is mailed. Advertising and marketing costs totaled $242 million for 2024, $180 million for 2023 and $166 million for 2022.

Property and Equipment

The Company’s Property and Equipment are recorded at cost and depreciation is computed on a straight-line basis using the following depreciable life ranges:


Category of Property and Equipment						Depreciable Life Range
Hardware and Software, including software developed for internal use						3 - 5 years
Store related assets						3 - 10 years
Leasehold improvements						Shorter of lease term or 10 years
Non-store related building and site improvements						10 - 15 years
Other property and equipment						20 years
Buildings						30 years

When a decision has been made to dispose of property and equipment prior to the end of the previously estimated useful life, depreciation estimates are revised to reflect the use of the asset over the shortened estimated useful life. The Company’s cost of assets sold or retired and the related accumulated depreciation are removed from the accounts with any resulting gain or loss included in net income. Maintenance and repairs are charged to expense as incurred. Major renewals and betterments that extend useful lives are capitalized.

Long-lived store assets, which include leasehold improvements, store-related assets and operating lease assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Store assets are grouped at the lowest level for which they are largely independent of other assets or asset groups. If the estimated undiscounted future cash flows related to the asset group are less than the carrying value, the Company recognizes a loss equal to the difference between the carrying value and the estimated fair value, determined by the estimated discounted future cash flows of the asset group. For operating lease assets, the Company determines the fair value of the assets by comparing the contractual rent payments to estimated market rental rates. An individual asset within an asset group is not impaired below its estimated fair value. The fair value of long-lived store assets is determined using Level 3 inputs within the fair value hierarchy.

Cloud Computing Arrangements

Costs incurred to implement cloud computing service arrangements hosted by third-party vendors are capitalized when incurred during the application development phase and amortized on a straight-line basis over the contractual term, plus any reasonably certain renewal periods, of the cloud computing arrangement. Capitalized amounts related to such arrangements are recorded within Other Current Assets and Other Assets on the Consolidated Balance Sheets and changes in cloud computing arrangement implementation costs are classified within Operating Activities in the Consolidated Statements of Cash Flows. Cloud computing assets and related amortization were not significant for any period presented.

Leases and Leasehold Improvements

The Company leases retail space, office space, warehouse facilities, storage space, equipment and certain other items under operating leases. A substantial portion of the Company’s leases are operating leases for its stores, which generally have an initial term of 10 years. Annual store rent consists of a fixed minimum amount and/or variable rent based on a percentage of sales exceeding a stipulated amount. Store lease terms generally also require additional payments covering certain operating costs such as common area maintenance, utilities, insurance and taxes. Certain leases contain predetermined fixed escalations of minimum rentals or require periodic adjustments of minimum rentals depending on an index or rate. Additionally, certain leases contain incentives, such as construction allowances from landlords and/or rent abatements subsequent to taking possession of the leased property.

At lease commencement, the Company recognizes an asset for the right to use the leased asset and a liability based on the present value of the unpaid fixed lease payments. Operating lease costs are recognized on a straight-line basis as lease expense over the lease term. Variable lease payments associated with the Company’s leases are recognized upon occurrence of the event or circumstance on which the payments are assessed. Short-term leases with an initial term of 12 months or less are not recorded on the balance sheet, and lease expense is recognized on a straight-line basis over the lease term. The Company uses its incremental borrowing rate, adjusted for collateral, to determine the present value of its unpaid lease payments.

The Company’s store leases often include options to extend the initial term or to terminate the lease prior to the end of the initial term. The exercise of these options is typically at the sole discretion of the Company. These options are included in determining the initial lease term at lease commencement if the Company is reasonably certain to exercise the option. Additionally, the Company may operate stores for a period of time on a month-to-month basis after the expiration of the lease term.

The Company also has leasehold improvements which are amortized over the shorter of their estimated useful lives or the period from the date the assets are placed in service to the end of the initial lease term. Leasehold improvements made after the inception of the initial lease term are depreciated over the shorter of their estimated useful lives or the remaining lease term, including renewal periods, if reasonably assured.

Intangible Assets - Goodwill and Trade Name

The Company has recorded Goodwill and Trade Name intangible assets resulting from business combinations that are recorded at cost.

Goodwill is reviewed for impairment at the reporting unit level each year in the fourth quarter and may be reviewed more frequently if certain events occur or circumstances change. The Company has the option to either first perform a qualitative assessment to determine whether it is more likely than not that a reporting unit’s fair value is less than its carrying value (including goodwill), or to proceed directly to the quantitative assessment which requires a comparison of a reporting unit’s fair value to its carrying value (including goodwill). If the Company determines that the fair value of a reporting unit is less than its carrying value, it recognizes an impairment charge equal to the difference, not to exceed the total amount of goodwill allocated to a reporting unit. The Company’s reporting units are determined in accordance with the provisions of Accounting Standards Codification (“ASC”) 350, Intangibles - Goodwill and Other.

The Bath & Body Works Trade Name is an intangible asset with an indefinite life that is reviewed for impairment each year in the fourth quarter, and may be reviewed more frequently if certain events occur or circumstances change. The Company has the option to either first perform a qualitative assessment to determine whether it is more likely than not that the Trade Name is impaired, or to proceed directly to the quantitative assessment which requires a comparison of the fair value of the trade name to its carrying value. To determine if the fair value of the Trade Name is less than its carrying amount, the Company will estimate the fair value, usually determined by the relief from royalty method under the income approach, and compare that value with its carrying amount. If the carrying value of the Trade Name exceeds its fair value, the Company recognizes an impairment charge equal to the difference.

Foreign Currency Translation

The functional currency of the Company’s foreign operations is generally the applicable local currency. Assets and liabilities are translated into U.S. dollars using the current exchange rates in effect as of the balance sheet date, while revenues and expenses are translated at the average exchange rates for the period. The Company’s resulting translation adjustments comprise substantially all of Accumulated Other Comprehensive Income in Shareholders’ Equity (Deficit). Accumulated foreign currency translation adjustments are reclassified to Net Income when realized upon sale or upon complete, or substantially complete, liquidation of the investment in the foreign entity.

Derivative Financial Instruments

The Company’s Canadian dollar denominated earnings are subject to exchange rate risk as substantially all the Company’s merchandise sold in Canada is sourced through U.S. dollar transactions. The Company uses foreign currency forward contracts designated as cash flow hedges to mitigate this foreign currency exposure. Amounts are reclassified from Accumulated Other Comprehensive Income upon sale of the hedged merchandise to the customer. These gains and losses are recognized in Costs of Goods Sold, Buying and Occupancy in the Consolidated Statements of Income. All designated cash flow hedges are recorded on the Consolidated Balance Sheets at fair value. The fair value of designated cash flow hedges is not significant for any period presented. The Company does not use derivative financial instruments for trading purposes.

Supplier Finance Program

During the fourth quarter of 2024, the Company implemented a supply chain finance (“SCF”) program. Under the SCF program, the Company has an agreement with a third-party financial institution, whereby some of its suppliers have the opportunity to settle outstanding payment obligations early, at a discount, facilitated by the financial institution. The Company’s obligations to its suppliers, including amounts due and scheduled payment terms, are not impacted by suppliers’ participation in the arrangement and the Company provides no guarantees to any third parties under the SCF program. Amounts due under the SCF program are included in Accounts Payable in the Consolidated Balance Sheets and within Operating Activities in the Consolidated Statements of Cash Flows. The Company’s activity under the SCF program was not significant as of, and for the year ended, February 1, 2025.

Easton Investments

The Company has land and other investments in Easton, a planned community in Columbus, Ohio, that integrates office, hotel, retail, residential and recreational space. As of February 1, 2025, certain of these investments met all of the required criteria for held for sale presentation, which requires assets to be reported at the lower of their carrying value or fair value less costs to sell. These investments, consisting primarily of undeveloped land, are reported at their carrying value, which was $96 million, and within Current Assets on the February 1, 2025 Consolidated Balance Sheet. The Company also had other Easton investments not presented as held for sale, with a carrying value of $26 million, reported in Other Assets on the February 1, 2025 Consolidated Balance Sheet.

Previously included in the Company’s Easton investments were equity interests in Easton Town Center, LLC (“ETC”) and Easton Gateway, LLC (“EG”), entities that own and develop commercial entertainment and shopping centers. The Company’s investments in ETC and EG were accounted for using the equity method of accounting. On May 10, 2024, the Company sold its entire interest in the business associated with EG, and on August 1, 2024, the Company sold its entire interest in ETC. Net of fees, the Company recognized a pre-tax gain of $39 million, included in Other Income in the 2024 Consolidated Statement of Income, and received cash proceeds of $40 million, included in Investing Activities in the 2024 Consolidated Statement of Cash Flows, related to these sales.

The Company’s Easton investments totaled $120 million as of February 3, 2024, and are reported in Other Assets on the February 3, 2024 Consolidated Balance Sheet.

Fair Value

The authoritative guidance included in ASC 820, Fair Value Measurement, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. This authoritative guidance further establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:

•Level 1 - Quoted market prices in active markets for identical assets or liabilities.

•Level 2 - Observable inputs other than quoted market prices included in Level 1, such as quoted prices of similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

•Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

The Company estimates the fair value of financial instruments, Property and Equipment, Net, Goodwill and its Trade Name in accordance with the provisions of ASC 820.

Income Taxes

The Company accounts for income taxes under the asset and liability method. Under this method, taxes currently payable or refundable are accrued, and deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets are also recognized for realizable operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted income tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in income tax rates is recognized in the Company’s Consolidated Statements of Income in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if it is more likely than not that such assets will not be realized.

In determining the Company’s provision for income taxes, the Company considers permanent differences between book and tax income and statutory income tax rates. The Company’s effective income tax rate is affected by items including changes in tax law, the tax jurisdiction of the Company’s operations and the level of earnings.

The Company follows a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments and for which actual outcomes may differ from forecasted outcomes. The Company’s policy is to include interest and penalties related to uncertain tax positions in income tax expense.

The Company’s income tax returns, like those of most companies, are periodically audited by domestic and foreign tax authorities. These audits include questions regarding the Company’s tax filing positions, including the timing and amount of deductions and the allocation of income among various tax jurisdictions. At any one time, multiple tax years are subject to audit by the various tax authorities. A number of years may elapse before a particular matter for which the Company has established an accrual is audited and fully resolved or clarified. The Company adjusts its tax contingencies accrual and income tax provision in the period in which matters are effectively settled with tax authorities at amounts different from its established accrual, when the statute of limitations expires for the relevant taxing authority to examine the tax position or when more information becomes available. The Company includes its tax contingencies accrual, including accrued penalties and interest, in Other Long-term Liabilities on the Consolidated Balance Sheets unless the liability is expected to be paid within one year. Changes to the tax contingencies accrual, including accrued penalties and interest, are included in Provision for Income Taxes on the Consolidated Statements of Income.

Self-Insurance

The Company is self-insured for medical, workers’ compensation, property, general liability and automobile liability up to certain stop-loss limits. Such costs are accrued based on known claims and an estimate of incurred but not reported (“IBNR”) claims. IBNR claims are estimated using historical claim information and actuarial estimates.

Noncontrolling Interest

Noncontrolling interest represents the portion of equity interests of consolidated affiliates not owned by the Company.

Share-based Compensation

The Company recognizes all share-based payments to associates and directors as compensation cost over the service period based on their estimated fair value on the date of grant. The Company estimates award forfeitures at the time awards are granted and adjusts, if necessary, in subsequent periods based on historical experience and expected future forfeitures. As part of the Company’s determination of award fair value, it assesses the impact of material nonpublic information on the share price at the time of grant. There were no such fair value adjustments to awards granted in any period presented.

Compensation cost is recognized over the service period for the fair value of awards that actually vest. Compensation expense for awards without a performance condition is recognized, net of estimated forfeitures, using a single award approach (each award is valued as one grant, irrespective of the number of vesting tranches). Compensation expense for awards with a performance condition is recognized, net of estimated forfeitures, using a multiple award approach (each vesting tranche is valued as one grant).

Revenue Recognition

The Company recognizes revenue based on the amount it expects to receive when control of the goods or services is transferred to the customer. The Company recognizes sales upon customer receipt of merchandise, which for direct channel revenues reflects an estimate of shipments that have not yet been received by the customer based on shipping terms and historical delivery times. The Company’s shipping and handling revenues are included in Net Sales with the related costs included in Costs of Goods Sold, Buying and Occupancy in the Consolidated Statements of Income. The Company also provides a reserve for projected merchandise returns based on historical experience. Net Sales exclude sales and other similar taxes collected from customers.

The Company offers a loyalty program that allows customers to earn points based on purchasing activity. As customers accumulate points and reach point thresholds, points are converted to rewards that may be used to purchase merchandise in stores or online. Points expire if a loyalty account is inactive for a certain period of time, while rewards expire if unused after approximately three months. The Company allocates revenue to points earned on qualifying purchases and defers recognition of revenue until the rewards are redeemed. The amount of revenue deferred is based on the relative stand-alone selling price method, which includes an estimate for points and rewards not expected to be redeemed based on historical experience.

The Company sells gift cards with no expiration dates to customers. The Company does not charge administrative fees on unused gift cards. The Company recognizes revenue from gift cards when they are redeemed by the customer. In addition, the Company recognizes revenue on unredeemed gift cards when the likelihood of the gift cards being redeemed is remote and there is no legal obligation to remit the unredeemed gift cards to relevant jurisdictions (gift card breakage). Gift card breakage revenue is recognized in proportion to, and over the same period as, actual gift card redemptions. The Company determines the gift card breakage rate based on historical redemption patterns. Gift card breakage revenue is included in Net Sales in the Consolidated Statements of Income.

The Company also recognizes revenues associated with franchise, license, wholesale and sourcing arrangements. Revenue recognized under franchise and license arrangements generally consists of royalties earned and recognized upon sale of merchandise by franchise and license partners to retail customers. Revenue is generally recognized under wholesale and sourcing arrangements at the time the title passes to the partner.

Costs of Goods Sold, Buying and Occupancy

The Company’s Costs of Goods Sold include merchandise costs, net of discounts and allowances, freight and inventory shrinkage. The Company’s Buying and Occupancy Expenses primarily include; occupancy costs, including rent, common area maintenance, real estate taxes, utilities, maintenance, and fulfillment expenses; depreciation for the Company’s retail stores, warehouses, fulfillment facilities and equipment; and payroll, benefit costs and operating expenses for its buying departments and distribution network.

General, Administrative and Store Operating Expenses

The Company’s General, Administrative and Store Operating Expenses is comprised of Selling, Marketing, and General and Administrative expenses. Selling Expenses include payroll and benefit costs for the Company’s stores and other costs associated with operating stores and e-commerce sites. Marketing Expenses include costs associated with the Company’s marketing and advertising activities. General and Administrative Expenses include payroll and benefit costs for the Company’s administrative departments (including home office and corporate functions), general corporate expenses, and most of the Company’s technology expenses.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period, as well as the related disclosure of contingent assets and liabilities at the date of the financial statements. Actual results may differ from those estimates, and the Company revises its estimates and assumptions as new information becomes available.

Recently Issued Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures, that expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance, and applies to companies with a single reportable segment. The Company adopted this standard in the fourth quarter of 2024. Refer to Note 15, “Segment Reporting,” for the required disclosures.

In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, that requires enhanced income tax disclosures, primarily related to standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This standard is effective for fiscal years beginning after December 15, 2024, with early adoption permitted, and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact of adopting this standard on its disclosures.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, that requires disclosures of disaggregated information about certain prescribed expense categories within relevant income statement expense captions. This standard is effective for annual reporting of fiscal years beginning after December 15, 2026, and for interim periods in the following year, with early adoption permitted. This standard should be applied prospectively, with retrospective application permitted. The Company is currently evaluating the impact of adopting this standard on its disclosures.

Description of Business and Summary of Significant Accounting Policies - Depreciable Life Range of Property Plant and Equipment (Details)	Feb. 01, 2025
Hardware and Software, including software developed for internal use \| Minimum
Property, Plant and Equipment [Line Items]
Depreciable life range	3 years
Hardware and Software, including software developed for internal use \| Maximum
Property, Plant and Equipment [Line Items]
Depreciable life range	5 years
Store related assets \| Minimum
Property, Plant and Equipment [Line Items]
Depreciable life range	3 years
Store related assets \| Maximum
Property, Plant and Equipment [Line Items]
Depreciable life range	10 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Depreciable life range	10 years
Non-store related building and site improvements \| Minimum
Property, Plant and Equipment [Line Items]
Depreciable life range	10 years
Non-store related building and site improvements \| Maximum
Property, Plant and Equipment [Line Items]
Depreciable life range	15 years
Other property and equipment
Property, Plant and Equipment [Line Items]
Depreciable life range	20 years
Buildings
Property, Plant and Equipment [Line Items]
Depreciable life range	30 years

Shareholders' Equity (Deficit) - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		1 Months Ended	3 Months Ended												12 Months Ended
	Mar. 07, 2025	Mar. 04, 2025	Feb. 01, 2025	Nov. 02, 2024	Aug. 03, 2024	May 04, 2024	Feb. 03, 2024	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Jan. 28, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023	Feb. 27, 2025	Jan. 31, 2025	Jan. 31, 2024	Feb. 02, 2022
Equity, Class of Treasury Stock [Line Items]
Stock retired															$ 0	$ 0	$ 0
Ordinary dividends (in dollars per share)			$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.80	$ 0.80	$ 0.80
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Ordinary dividends (in dollars per share)	$ 0.20
Par Value
Equity, Class of Treasury Stock [Line Items]
Stock retired															$ 5	$ 2	$ 13
Paid-In Capital
Equity, Class of Treasury Stock [Line Items]
Stock retired															34	14	87
Retained Earnings (Accumulated Deficit)
Equity, Class of Treasury Stock [Line Items]
Stock retired															$ 361	$ 133	1,212
February 2022 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount																					$ 1,500
Shares Repurchased															842	4,096
Amount Repurchased															$ 39	$ 149
Stock retired (in shares)															10,425	4,096
February 2022 Repurchase Program \| Accounts Payable
Equity, Class of Treasury Stock [Line Items]
Payable for share repurchases							$ 1									$ 1
February 2022 Repurchase Program, Accelerated Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Amount Repurchased																	$ 1,000
February 2022 Repurchase Program, Accelerated Share Repurchase Program \| Par Value
Equity, Class of Treasury Stock [Line Items]
Shares Repurchased																	20,000
January 2024 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount																				$ 500
Stock repurchase program, remaining authorized repurchase amount			$ 139												$ 139
Shares Repurchased															9,583
Amount Repurchased															$ 361
January 2024 Repurchase Program \| Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount																		$ 121
January 2024 Repurchase Program \| Accounts Payable
Equity, Class of Treasury Stock [Line Items]
Payable for share repurchases			$ 1												$ 1
2025 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount																			$ 500
January 2024 and January 2025 Repruchase Programs \| Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Shares Repurchased		1,500
Amount Repurchased		$ 53

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 628	$ 628
Trade Name	$ 165	$ 165

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Inventories

12 Months Ended

Feb. 01, 2025

Inventory, Net [Abstract]

Inventories

The following table provides details of Inventories as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Finished Goods Merchandise	$	589	$	558
Raw Materials and Merchandise Components	145		152
Total Inventories	$	734	$	710

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($)
$ in Millions

12 Months Ended

Feb. 01, 2025

Feb. 03, 2024

Jan. 28, 2023

Disaggregation of Revenue [Line Items]

Net Sales

$ 7,307

$ 7,429

$ 7,560

Stores - U.S. and Canada (a)

Disaggregation of Revenue [Line Items]

Net Sales

^[1]

5,534

5,507

5,476

Direct - U.S. and Canada

Disaggregation of Revenue [Line Items]

Net Sales

1,474

1,582

1,745

Bath & Body Works International

Disaggregation of Revenue [Line Items]

Net Sales

^[2]

$ 299

$ 340

$ 339

[1]	Results include fulfilled buy online pick up in store orders.
[2]	Results include royalties associated with franchised stores and wholesale sales.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Inventories (Tables)

12 Months Ended

Feb. 01, 2025

Inventory, Net [Abstract]

Summary of Inventories

The following table provides details of Inventories as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Finished Goods Merchandise	$	589	$	558
Raw Materials and Merchandise Components	145		152
Total Inventories	$	734	$	710

Long-term Debt and Borrowing Facility - Issuance and Repurchase of Notes - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 30, 2025	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Debt Instrument [Line Items]
Interest paid, including capitalized interest, operating and investing activities		$ 289	$ 346	$ 339
Extinguishment of debt, amount		514	485
Loss (Gain) on Extinguishment of Debt		(10)	34	$ 0
Senior Notes
Debt Instrument [Line Items]
Extinguishment of debt, amount		200	485
Loss (Gain) on Extinguishment of Debt		3	34
Debt Instrument, Repurchase Amount		$ 202	$ 447
2025 Notes \| Senior Notes
Debt Instrument [Line Items]
Extinguishment of debt, amount	$ 314
Loss (Gain) on Extinguishment of Debt	7
Debt Instrument, Repurchase Amount	$ 320

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

+ Details

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Income Statement [Abstract]
Net Sales	$ 7,307	$ 7,429	$ 7,560
Costs of Goods Sold, Buying and Occupancy	(4,073)	(4,193)	(4,305)
Gross Profit	3,234	3,236	3,255
General, Administrative and Store Operating Expenses	(1,968)	(1,951)	(1,879)
Operating Income	1,266	1,285	1,376
Interest Expense	(312)	(345)	(348)
Other Income	74	81	17
Income from Continuing Operations Before Income Taxes	1,028	1,021	1,045
Provision for Income Taxes	230	143	251
Net Income from Continuing Operations	798	878	794
Income from Discontinued Operations, Net of Tax	0	0	6
Net Income	$ 798	$ 878	$ 800
Net Income per Basic Share
Continuing Operations (in USD per share)	$ 3.62	$ 3.86	$ 3.43
Discontinued Operations (in USD per share)	0	0	0.03
Total Net Income Per Basic Share (in USD per share)	3.62	3.86	3.45
Net Income per Diluted Share
Continuing Operations (in USD per share)	3.61	3.84	3.40
Discontinued Operations (in USD per share)	0	0	0.03
Total Net Income Per Diluted Share (in USD per share)	$ 3.61	$ 3.84	$ 3.43

Revenue Recognition (Tables)

12 Months Ended

Feb. 01, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table provides a disaggregation of Net Sales for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Stores - U.S. and Canada (a)	$	5,534	$	5,507	$	5,476
Direct - U.S. and Canada	1,474		1,582		1,745
International (b)	299		340		339
Total Net Sales	$	7,307	$	7,429	$	7,560

_______________

(a)Results include fulfilled buy online pick up in store orders.

(b)Results include royalties associated with franchised stores and wholesale sales.

Long-term Debt and Borrowing Facility

12 Months Ended

Feb. 01, 2025

Long-Term Debt, by Current and Noncurrent [Abstract]

Long-term Debt and Borrowing Facility

The following table provides the Company’s outstanding Long-term Debt balances, net of unamortized debt issuance costs and discounts, as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Senior Debt with Subsidiary Guarantee
$500 million, 9.375% Fixed Interest Rate Notes due July 2025 (“2025 Notes”)	$	—	$	313
$284 million, 6.694% Fixed Interest Rate Notes due January 2027 (“2027 Notes”)	277		287
$444 million, 5.250% Fixed Interest Rate Notes due February 2028 (“2028 Notes”)	443		460
$482 million, 7.500% Fixed Interest Rate Notes due June 2029 (“2029 Notes”)	476		492
$844 million, 6.625% Fixed Interest Rate Notes due October 2030 (“2030 Notes”)	838		930
$802 million, 6.875% Fixed Interest Rate Notes due November 2035 (“2035 Notes”)	796		806
$575 million, 6.750% Fixed Interest Rate Notes due July 2036 (“2036 Notes”)	571		608
Total Senior Debt with Subsidiary Guarantee	3,401		3,896
Senior Debt
$284 million, 6.950% Fixed Interest Rate Debentures due March 2033 (“2033 Notes”)	283		293
$201 million, 7.600% Fixed Interest Rate Notes due July 2037 (“2037 Notes”)	200		199
Total Senior Debt	483		492
Total Long-term Debt	$	3,884	$	4,388

The following table provides principal payments due on outstanding Long-term Debt in the next five fiscal years and the remaining years thereafter:


Fiscal Year	(in millions)
2025	$	—
2026	284
2027	—
2028	444
2029	482
Thereafter	2,705

Cash paid for interest was $289 million in 2024, $346 million in 2023 and $339 million in 2022.

Repurchases of Notes

The losses and gains on the extinguishment of debt include the write-offs of unamortized issuance costs and are included in Other Income in the Consolidated Statements of Income.

2024 Repurchases

During the first and second quarters of 2024, the Company repurchased in the open market and extinguished $200 million principal amount of the Company’s outstanding senior notes. The aggregate repurchase price for these notes was $202 million, resulting in pre-tax losses of $3 million, net of the write-off of unamortized issuance costs.

In the fourth quarter of 2024, the Company completed a make-whole call to repurchase the remaining $314 million principal amount of the Company’s outstanding 2025 Notes. The repurchase price for these notes was $320 million, resulting in a pre-tax loss of $7 million, net of the write-off of unamortized issuance costs.

2023 Repurchases

During 2023, the Company repurchased in the open market and extinguished $485 million principal amount of the Company’s outstanding senior notes. The aggregate repurchase price for these notes was $447 million, resulting in pre-tax gains of $34 million, net of the write-off of unamortized issuance costs.

The following table provides details of the outstanding principal amounts of senior notes repurchased and extinguished during 2024 and 2023:


	2024		2023
	(in millions)
2025 Notes	$	314	$	6
2027 Notes	14		—
2028 Notes	17		38
2029 Notes	17		—
2030 Notes	94		62
2033 Notes	10		56
2035 Notes	10		189
2036 Notes	38		87
2037 Notes	—		47
Total	$	514	$	485

Asset-backed Revolving Credit Facility

The Company and certain of the Company’s 100% owned subsidiaries guarantee and pledge collateral to secure an asset-backed revolving credit facility (“ABL Facility”). The ABL Facility, which allows borrowings and letters of credit in U.S. dollars, has aggregate commitments of $750 million and an expiration date in August 2026.

Availability under the ABL Facility is the lesser of (i) the borrowing base, determined primarily based on the Company’s eligible U.S. and Canadian credit card receivables, accounts receivable, inventory and eligible real property, or (ii) the aggregate commitment. If at any time the outstanding amount under the ABL Facility exceeds the lesser of (i) the borrowing base and (ii) the aggregate commitment, the Company is required to repay the outstanding amounts under the ABL Facility to the extent of such excess. As of February 1, 2025, the Company’s borrowing base was $553 million and it had no borrowings outstanding under the ABL Facility.

The ABL Facility supports the Company’s letter of credit program. The Company had $11 million of outstanding letters of credit as of February 1, 2025 that reduced its availability under the ABL Facility. As of February 1, 2025, the Company’s availability under the ABL Facility was $542 million.

As of February 1, 2025, the ABL Facility fees related to committed and unutilized amounts were 0.30% per annum, and the fees related to outstanding letters of credit were 1.25% per annum. In addition, the interest rate on outstanding U.S. dollar borrowings was the Term Secured Overnight Financing Rate plus 1.25% and a credit spread adjustment of 0.10% per annum.

The ABL Facility requires the Company to maintain a fixed charge coverage ratio of not less than 1.00 to 1.00 during an event of default or any period commencing on any day when specified excess availability is less than the greater of (i) $70 million or (ii) 10% of the maximum borrowing amount. As of February 1, 2025, the Company was not required to maintain this ratio.

Income Taxes

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Current income tax expense represents the amounts expected to be reported on the Company’s income tax returns, and deferred tax expense or benefit represents the change in net deferred tax assets and liabilities. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates that will be in effect when these differences reverse. Valuation allowances are recorded as appropriate to reduce deferred tax assets to the amount considered likely to be realized.

The following table provides the components of the Company’s provision for income taxes for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Current:
U.S. Federal	$	281	$	214	$	180
U.S. State	54		49		48
Non-U.S.	8		7		8
Total	343		270		236
Deferred:
U.S. Federal	(121)		(19)		10
U.S. State	(6)		(2)		—
Non-U.S.	14		(106)		5
Total	(113)		(127)		15
Provision for Income Taxes	$	230	$	143	$	251

The non-U.S. component of pre-tax income, arising principally from overseas operations, was income of $66 million, $84 million and $94 million for 2024, 2023 and 2022, respectively.

The following table provides the reconciliation between the statutory federal income tax rate and the effective tax rate for 2024, 2023 and 2022:


	2024		2023		2022
Federal Income Tax Rate	21.0	%	21.0	%	21.0	%
State Income Taxes, Net of Federal Income Tax Effect	4.4	%	4.0	%	4.1	%
Impact of Non-U.S. Operations	0.9	%	0.2	%	0.1	%
Change in Valuation Allowance	(4.2	%)	(11.0	%)	—	%
Share-based Compensation	—	%	0.1	%	(0.7	%)
Uncertain Tax Positions	0.3	%	—	%	(0.7	%)
Other Items, Net	—	%	(0.4	%)	0.2	%
Effective Tax Rate	22.4	%	13.9	%	24.0	%

Deferred Taxes

Deferred tax assets and liabilities represent the future effects on income taxes resulting from temporary differences and carryforwards at the end of the respective year.

The following table provides the effect of temporary differences that cause deferred income taxes as of February 1, 2025 and February 3, 2024:


	February 1, 2025						February 3, 2024
	Assets		Liabilities		Total		Assets		Liabilities		Total
	(in millions)
Loss Carryforwards	$	367	$	—	$	367	$	390	$	—	$	390
Leases	260		(247)		13		280		(266)		14
Capitalized Research and Development	37		—		37		30		—		30
Share-based Compensation	8		—		8		9		—		9
Property and Equipment	7		(122)		(115)		5		(146)		(141)
Trade Names	—		(38)		(38)		—		(38)		(38)
Other Assets	—		(1)		(1)		—		(59)		(59)
Other, Net	55		(10)		45		56		(11)		45
Valuation Allowance	(210)		—		(210)		(253)		—		(253)
Total Deferred Income Taxes	$	524	$	(418)	$	106	$	517	$	(520)	$	(3)

As of February 1, 2025, the Company had loss carryforwards of $367 million, of which $248 million had an indefinite carryforward. The remainder of the U.S. and non-U.S. carryforwards, if unused, will expire at various dates from 2025 through 2040 and 2031 through 2041, respectively. For certain jurisdictions where the Company has determined that it is more likely than not that the loss carryforwards will not be realized, a valuation allowance has been provided on those loss carryforwards as well as other net deferred tax assets.

Income tax payments were $351 million for 2024, $231 million for 2023 and $188 million for 2022.

Uncertain Tax Positions


	2024		2023		2022
	(in millions)
Gross Unrecognized Tax Benefits, as of the Beginning of the Fiscal Year	$	145	$	149	$	147
Increases to Unrecognized Tax Benefits for Prior Years	1		1		14
Decreases to Unrecognized Tax Benefits for Prior Years	(3)		(7)		(12)
Increases to Unrecognized Tax Benefits as a Result of Current Year Activity	12		5		6
Decreases to Unrecognized Tax Benefits Relating to Settlements with Taxing Authorities	—		(1)		(2)
Decreases to Unrecognized Tax Benefits as a Result of a Lapse of the Applicable Statute of Limitations	(6)		(2)		(4)
Gross Unrecognized Tax Benefits, as of the End of the Fiscal Year	$	149	$	145	$	149

Of the total gross unrecognized tax benefits, approximately $91 million, $131 million and $135 million, at February 1, 2025, February 3, 2024, and January 28, 2023, respectively, represent the amount of unrecognized tax benefits that, if recognized, would favorably affect the effective income tax rate in future periods. These amounts are net of the offsetting tax effects from other tax jurisdictions.

Of the total unrecognized tax benefits, it is reasonably possible that $111 million could change in the next 12 months due to audit settlements, expiration of statutes of limitations or other resolution of uncertainties. Due to the uncertain and complex application of tax regulations, it is possible that the ultimate resolution of audits may result in amounts which could be different from this estimate.

The Company recognizes interest and penalties related to unrecognized tax benefits as components of income tax expense. The Company recognized an income tax expense from interest and penalties of approximately $11 million for 2024, $9 million for 2023 and $2 million for 2022. The Company had accrued $30 million and $19 million for the payment of interest and penalties

as of February 1, 2025 and February 3, 2024, respectively. Accrued interest and penalties are included within Other Long-term Liabilities on the Consolidated Balance Sheets.

The Company files U.S. federal income tax returns as well as income tax returns in various states and in non-U.S. jurisdictions. The Company is a participant in the Compliance Assurance Process, which is a program made available by the Internal Revenue Service (“IRS”) to certain qualifying large taxpayers, under which participants work collaboratively with the IRS to identify and resolve potential tax issues through open, cooperative and transparent interaction prior to the annual filing of their federal income tax returns. The IRS is currently examining the Company’s 2020 to 2024 consolidated U.S. federal income tax returns.

The Company is also subject to various state and local income tax examinations for the years 2017 to 2023. Finally, the Company is subject to multiple non-U.S. tax jurisdiction examinations for the years 2012 to 2023. In some situations, the Company determines that it does not have a filing requirement in a particular tax jurisdiction. Where no return has been filed, no statute of limitations applies. Accordingly, if a tax jurisdiction reaches a conclusion that a filing requirement does exist, additional years may be reviewed by the tax authority. The Company believes it has appropriately accounted for uncertainties related to this issue.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Net Income Per Share - Shares Utilized for the Calculation of Basic and Diluted Earnings per Share (Details) - shares
shares in Millions

12 Months Ended

Feb. 01, 2025

Feb. 03, 2024

Jan. 28, 2023

Weighted-average Common Shares:

Common Shares (in shares)

235

243

247

Treasury Shares (in shares)

(15)

Basic Shares (in shares)

220

228

232

Effect of Dilutive Options and Restricted Stock (in shares)

Diluted Shares (in shares)

221

229

233

Anti-dilutive Options and Awards (in shares)

^[1]

[1]	These awards were excluded from the calculation of Net Income per Diluted Share because their inclusion would have been anti-dilutive.

Description of Business and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Feb. 01, 2025

Accounting Policies [Abstract]

Description of Business

Fiscal Year

Basis of Consolidation

Cash and Cash Equivalents

Concentration of Credit Risk

Inventories

Inventories are principally valued at the lower of cost or net realizable value, on an average cost basis.

Advertising Costs

Property and Equipment

The Company’s Property and Equipment are recorded at cost and depreciation is computed on a straight-line basis using the following depreciable life ranges:


Category of Property and Equipment						Depreciable Life Range
Hardware and Software, including software developed for internal use						3 - 5 years
Store related assets						3 - 10 years
Leasehold improvements						Shorter of lease term or 10 years
Non-store related building and site improvements						10 - 15 years
Other property and equipment						20 years
Buildings						30 years

Cloud Computing Arrangements

Leases and Leasehold Improvements

Intangible Assets - Goodwill and Trade Names

Intangible Assets - Goodwill and Trade Name

The Company has recorded Goodwill and Trade Name intangible assets resulting from business combinations that are recorded at cost.

Foreign Currency Translation

Derivative Financial Instruments

Supplier Finance Programs

Supplier Finance Program

Equity Investments

Easton Investments

The Company’s Easton investments totaled $120 million as of February 3, 2024, and are reported in Other Assets on the February 3, 2024 Consolidated Balance Sheet.

Fair Value

•Level 1 - Quoted market prices in active markets for identical assets or liabilities.

The Company estimates the fair value of financial instruments, Property and Equipment, Net, Goodwill and its Trade Name in accordance with the provisions of ASC 820.

Income Taxes

Self-Insurance

Noncontrolling Interest

Noncontrolling interest represents the portion of equity interests of consolidated affiliates not owned by the Company.

Share-based Compensation

Revenue Recognition

Costs of Goods Sold, Buying and Occupancy

General, Administrative and Store Operating Expenses

Use of Estimates in the Preparation of Financial Statements

Recently Issued Accounting and Reporting Pronouncements

Recently Issued Accounting Pronouncements

Long-term Debt and Borrowing Facility - Repurchases (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024
Debt Instrument [Line Items]
Extinguishment of debt, amount	$ 514	$ 485
Fixed Rate 9.375% Notes due July 2025
Debt Instrument [Line Items]
Extinguishment of debt, amount	314	6
$284 million, 6.694% Fixed Interest Rate Notes due January 2027 (“2027 Notes”)
Debt Instrument [Line Items]
Extinguishment of debt, amount	14	0
$444 million, 5.250% Fixed Interest Rate Notes due February 2028 (“2028 Notes”)
Debt Instrument [Line Items]
Extinguishment of debt, amount	17	38
$482 million, 7.500% Fixed Interest Rate Notes due June 2029 (“2029 Notes”)
Debt Instrument [Line Items]
Extinguishment of debt, amount	17	0
$844 million, 6.625% Fixed Interest Rate Notes due October 2030 (“2030 Notes”)
Debt Instrument [Line Items]
Extinguishment of debt, amount	94	62
$284 million, 6.950% Fixed Interest Rate Debentures due March 2033 (“2033 Notes”)
Debt Instrument [Line Items]
Extinguishment of debt, amount	10	56
$802 million, 6.875% Fixed Interest Rate Notes due November 2035 (“2035 Notes”)
Debt Instrument [Line Items]
Extinguishment of debt, amount	10	189
$575 million, 6.750% Fixed Interest Rate Notes due July 2036 (“2036 Notes”)
Debt Instrument [Line Items]
Extinguishment of debt, amount	38	87
$201 million, 7.600% Fixed Interest Rate Notes due July 2037 (“2037 Notes”)
Debt Instrument [Line Items]
Extinguishment of debt, amount	$ 0	$ 47

Fair Value Measurements

12 Months Ended

Feb. 01, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following table provides a summary of the principal value and estimated fair value of the Company’s outstanding Long-term Debt as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Principal Value	$	3,916	$	4,430
Fair Value, Estimated (a)	3,986		4,456

________________

(a)The estimated fair value of the Company’s Long-term Debt is based on reported transaction prices, which are considered Level 2 inputs in accordance with ASC 820. The estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.

Management believes that the carrying values of the Company’s Accounts Receivable, Accounts Payable and Accrued Expenses approximate their fair values because of their short maturities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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+ Details

Shareholders' Equity (Deficit) (Tables)

12 Months Ended

Feb. 01, 2025

Stockholders' Equity Note [Abstract]

Schedule of Company's repurchase program

Under the February 2022 Program, the Company repurchased the following shares of its common stock during 2024 and 2023:


Repurchase Program	Shares Repurchased		Amount Repurchased				Average Stock Price
	2024	2023	2024		2023		2024		2023
	(in thousands)		(in millions)
February 2022	842	4,096	$	39	$	149	$	46.08	$	36.38

Under the January 2024 Program, the Company repurchased the following shares of its common stock during 2024:


Repurchase Program	Shares Repurchased	Amount Repurchased		Average Stock Price
	(in thousands)	(in millions)
January 2024	9,583	$	361	$	37.70

Schedule of Dividends Paid

The Company paid the following dividends during 2024, 2023 and 2022:


	Ordinary Dividends			Total Paid
	(per share)		(in millions)
2024
First Quarter	$	0.20		$	45
Second Quarter	0.20			45
Third Quarter	0.20			44
Fourth Quarter	0.20			43
2024 Total	$	0.80		$	177
2023
First Quarter	$	0.20		$	46
Second Quarter	0.20			46
Third Quarter	0.20			45
Fourth Quarter	0.20			45
2023 Total	$	0.80		$	182
2022
First Quarter	$	0.20		$	48
Second Quarter	0.20			46
Third Quarter	0.20			46
Fourth Quarter	0.20			46
2022 Total	$	0.80		$	186

Long-Lived Assets

12 Months Ended

Feb. 01, 2025

Property, Plant and Equipment [Abstract]

Long-Lived Assets

Long-lived Assets

The following table provides details of Property and Equipment, Net as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Land and Improvements	$	87	$	90
Buildings and Improvements	323		319
Furniture, Fixtures, Software and Equipment	1,879		1,821
Leasehold Improvements	891		850
Construction in Progress	37		43
Total	3,217		3,123
Accumulated Depreciation and Amortization	(2,090)		(1,903)
Property and Equipment, Net	$	1,127	$	1,220

Depreciation expense was $282 million in 2024, $269 million in 2023 and $221 million in 2022.

The Company’s internationally-based long-lived assets, including operating lease assets, were $131 million as of February 1, 2025 and $138 million as of February 3, 2024.

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Operating Activities
Net Income	$ 798	$ 878	$ 800
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation of Long-lived Assets	282	269	221
Share-based Compensation Expense	40	43	38
Gain on Sales of Easton Investments	(39)	0	0
Loss (Gain) on Extinguishment of Debt	10	(34)	0
Deferred Income Taxes	(112)	(128)	17
Impairment of Equity Method Investment	0	8	0
Changes in Assets and Liabilities:
Accounts Receivable	18	2	11
Inventories	(26)	(2)	0
Accounts Payable, Accrued Expenses and Other	(50)	(109)	44
Income Taxes Payable	(23)	34	39
Other Assets and Liabilities	(12)	(7)	(26)
Net Cash Provided by Operating Activities	886	954	1,144
Investing Activities
Capital Expenditures	(226)	(298)	(328)
Proceeds from Sales of Easton Investments, Net of Fees Paid	40	0	0
Other Investing Activities	24	12	0
Net Cash Used for Investing Activities	(162)	(286)	(328)
Financing Activities
Payments for Long-term Debt	(522)	(447)	0
Net Payments to Victoria’s Secret & Co. related to Spin-Off	(2)	(3)	(25)
Repurchases of Common Stock	(401)	(148)	(1,312)
Dividends Paid	(177)	(182)	(186)
Tax Payments related to Share-based Awards	(16)	(11)	(32)
Payments of Finance Lease Obligations	(17)	(15)	(9)
Other Financing Activities	3	(9)	2
Net Cash Used for Financing Activities	(1,132)	(815)	(1,562)
Effects of Exchange Rate Changes on Cash and Cash Equivalents	(2)	(1)	(1)
Net Decrease in Cash and Cash Equivalents	(410)	(148)	(747)
Cash and Cash Equivalents, Beginning of Year	1,084	1,232	1,979
Cash and Cash Equivalents, End of Year	$ 674	$ 1,084	$ 1,232

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Leases [Abstract]
Operating Lease Costs	$ 267	$ 254	$ 238
Variable Lease Costs	108	107	107
Short-term Lease Costs	43	41	37
Total Lease Cost	$ 418	$ 402	$ 382

Consolidated Statements of Total Equity (Deficit) (Parenthetical) - $ / shares	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Statement of Stockholders' Equity [Abstract]
Dividends per share (in USD per share)	$ 0.80	$ 0.80	$ 0.80

Net Income Per Share (Tables)

12 Months Ended

Feb. 01, 2025

Earnings Per Share [Abstract]

Earnings Per Share Computation

The following table provides the weighted-average shares utilized for the calculation of Net Income per Basic and Diluted Share for 2024, 2023 and 2022:


	2024	2023	2022
	(in millions)
Common Shares	235	243	247
Treasury Shares	(15)	(15)	(15)
Basic Shares	220	228	232
Effect of Dilutive Awards	1	1	1
Diluted Shares	221	229	233
Anti-dilutive Awards (a)	1	—	1

________________

(a)These awards were excluded from the calculation of Net Income per Diluted Share because their inclusion would have been anti-dilutive.

Segment Reporting

12 Months Ended

Feb. 01, 2025

Segment Reporting [Abstract]

Segment Reporting

The Company is managed at the consolidated level and therefore operates and reports as a single segment. The Company’s Chief Executive Officer is its Chief Operating Decision Maker (“CODM”), and the measure of profitability included in the financial information regularly provided to the CODM is total Company Operating Income. The Company’s CODM assesses Operating Income performance in comparison to forecasts and historical results to make decisions on the reinvestment of profits into the business and capital allocation strategies.

The following table illustrates significant segment expenses that are regularly provided to the CODM in 2024, 2023, and 2022:


	2024		2023		2022
	(in millions)
Net Sales	$	7,307	$	7,429	$	7,560
Cost of Goods Sold	(2,880)		(2,970)		(3,126)
Buying and Occupancy	(1,193)		(1,223)		(1,179)
Gross Profit	3,234		3,236		3,255
Selling Expenses	(1,191)		(1,177)		(1,205)
Marketing Expenses	(242)		(189)		(175)
General and Administrative Expenses	(535)		(585)		(499)
Operating Income	$	1,266	$	1,285	$	1,376

As a single reportable segment entity, the other disclosures required by ASC 280, Segment Reporting, can be found in the Company’s Consolidated Financial Statements and the Notes thereto, including the Company’s measure of segment assets, which is total consolidated assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Description of Business and Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	12 Months Ended
	Feb. 01, 2025 USD ($)	Feb. 03, 2024 USD ($)	Jan. 28, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maturity of short term investments, maximum, in days	90
Advertising expense	$ 242	$ 180	$ 166
Lessee, operating lease, term of contract	10 years
Easton Assets Held for Sale	$ 96	0
Easton investments, including carrying value of related equity method investments	26	120
Gain on Sales of Easton Investments	(39)	0	0
Proceeds from Sales of Easton Investments, Net of Fees Paid	$ 40	$ 0	0
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| Victoria's Secret
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax benefit from discontinued operations			$ 6

Shareholders' Equity (Deficit) - Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended												12 Months Ended
	Feb. 01, 2025	Nov. 02, 2024	Aug. 03, 2024	May 04, 2024	Feb. 03, 2024	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Jan. 28, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Shareholders’ Equity [Abstract]
Ordinary dividends (in dollars per share)	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.80	$ 0.80	$ 0.80
Payments of dividends	$ 43	$ 44	$ 45	$ 45	$ 45	$ 45	$ 46	$ 46	$ 46	$ 46	$ 46	$ 48	$ 177	$ 182	$ 186

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Feb. 01, 2025	Mar. 07, 2025	Aug. 03, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Feb. 01, 2025
Current Fiscal Year End Date	--02-01
Document Transition Report	false
Entity File Number	1-8344
Entity Registrant Name	BATH & BODY WORKS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-1029810
Entity Address, Address Line One	Three Limited Parkway,
Entity Address, City or Town	Columbus,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43230
City Area Code	614
Local Phone Number	415-7000
Title of 12(b) Security	Common Stock, $0.50 Par Value
Trading Symbol	BBWI
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 7.3
Entity Common Stock, Shares Outstanding		214,225,864
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s Proxy Statement for the Registrant’s 2025 Annual Meeting of Stockholders are incorporated by reference into Part III.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0000701985

Commitments and Contingencies (Details) $ in Millions	Feb. 01, 2025 USD ($)
Lease Agreements \| Victoria's Secret
Loss Contingencies [Line Items]
Lease guarantees remaining after disposition of certain businesses	$ 232

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Net Income Per Share

12 Months Ended

Feb. 01, 2025

Earnings Per Share [Abstract]

Net Income Per Share

Net Income per Basic Share is computed based on the weighted-average number of common shares outstanding. Net Income per Diluted Share includes the weighted-average effect of dilutive restricted share units, performance share units and stock options (collectively, “Dilutive Awards”) on the weighted-average common shares outstanding.

The following table provides the weighted-average shares utilized for the calculation of Net Income per Basic and Diluted Share for 2024, 2023 and 2022:


	2024	2023	2022
	(in millions)
Common Shares	235	243	247
Treasury Shares	(15)	(15)	(15)
Basic Shares	220	228	232
Effect of Dilutive Awards	1	1	1
Diluted Shares	221	229	233
Anti-dilutive Awards (a)	1	—	1

________________

(a)These awards were excluded from the calculation of Net Income per Diluted Share because their inclusion would have been anti-dilutive.

Segment Reporting - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Segment Reporting Information [Line Items]
Net Sales	$ 7,307	$ 7,429	$ 7,560
Gross Profit	3,234	3,236	3,255
Operating Income	1,266	1,285	1,376
Reportable Segment
Segment Reporting Information [Line Items]
Net Sales	7,307	7,429	7,560
Cost of Goods Sold	(2,880)	(2,970)	(3,126)
Buying and Occupancy	(1,193)	(1,223)	(1,179)
Gross Profit	3,234	3,236	3,255
Selling Expenses	(1,191)	(1,177)	(1,205)
Marketing Expenses	(242)	(189)	(175)
General and Administrative Expenses	(535)	(585)	(499)
Operating Income	$ 1,266	$ 1,285	$ 1,376

Leases - Lease Maturities (Details) $ in Millions	Feb. 01, 2025 USD ($)
Leases [Abstract]
2025	$ 248
2026	244
2027	192
2028	159
2029	130
Thereafter	312
Total Lease Payments	1,285
Less: Interest	(210)
Present Value of Operating Lease Liabilities	$ 1,075

Other Assets and Liabilities - Accrued Expenses and Other (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024
Other Assets and Liabilities [Abstract]
Deferred Revenue	$ 197	$ 198
Compensation, Payroll Taxes and Benefits	78	114
Interest	63	58
Taxes, Other than Income	23	36
Rent	29	32
Accrued Claims on Self-insured Activities	34	34
Accrued Marketing	33	9
Other	127	127
Total Accrued Expenses and Other	$ 584	$ 608

Audit Information	12 Months Ended
Audit Information	Feb. 01, 2025
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Grandview Heights, Ohio
Auditor Firm ID	42

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Pay vs Performance Disclosure
Net Income	$ 798	$ 878	$ 800

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Intangible Assets	12 Months Ended
Intangible Assets	Feb. 01, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Goodwill The Company’s Goodwill was $628 million as of February 1, 2025 and February 3, 2024. The Company performed its qualitative goodwill impairment assessments as of February 1, 2025 and February 3, 2024 and determined that it was not more likely than not that fair value was less than carrying value (including goodwill) as of both dates. Trade Name The Company’s Trade Name was $165 million as of February 1, 2025 and February 3, 2024. The Company performed its impairment assessments of the Trade Name as of February 1, 2025 and February 3, 2024, utilizing the relief from royalty method under the income approach, and determined that its fair value was greater than its carrying value as of both dates.

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 798	$ 878	$ 800
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation	(8)	(2)	(2)
Unrealized Gain on Cash Flow Hedges	5	1	2
Reclassification of Cash Flow Hedges to Earnings	(1)	(2)	(2)
Total Other Comprehensive Loss, Net of Tax	(4)	(3)	(2)
Total Comprehensive Income	$ 794	$ 875	$ 798

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Disaggregation of Revenue [Line Items]
Accounts receivable, net from revenue-generating activities	$ 81	$ 84
Deferred revenue	197	198
Revenue recognized	132
Net sales	$ 7,307	7,429	$ 7,560
Minimum
Disaggregation of Revenue [Line Items]
Account receivable, payment term	45 days
Maximum
Disaggregation of Revenue [Line Items]
Account receivable, payment term	75 days
Outside of the U.S.
Disaggregation of Revenue [Line Items]
Net sales	$ 691	$ 723	$ 707

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Feb. 01, 2025

Fair Value Disclosures [Abstract]

Carrying Value and Fair Value of Long Term Debt, Disclosure

The following table provides a summary of the principal value and estimated fair value of the Company’s outstanding Long-term Debt as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
	(in millions)
Principal Value	$	3,916	$	4,430
Fair Value, Estimated (a)	3,986		4,456

________________

Long-term Debt and Borrowing Facility - Schedule of Principal Payments on Long-term Debt (Details) $ in Millions	Feb. 01, 2025 USD ($)
Long-Term Debt, by Current and Noncurrent [Abstract]
2025	$ 0
2026	284
2027	0
2028	444
2029	482
Thereafter	$ 2,705

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Feb. 01, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Leases

12 Months Ended

Feb. 01, 2025

Leases [Abstract]

Leases

The following table provides the components of lease cost for operating leases for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Operating Lease Costs	$	267	$	254	$	238
Variable Lease Costs	108		107		107
Short-term Lease Costs	43		41		37
Total Lease Cost	$	418	$	402	$	382

The following table provides future maturities of operating lease liabilities as of February 1, 2025:


Fiscal Year	(in millions)
2025	$	248
2026	244
2027	192
2028	159
2029	130
Thereafter	312
Total Lease Payments	1,285
Less: Interest	(210)
Present Value of Operating Lease Liabilities	$	1,075

The Company accounts for all fixed consideration in a lease as a single lease component. Therefore, the payments used to measure the lease liability include fixed minimum rentals along with fixed operating costs such as common area maintenance and utilities.

As of February 1, 2025, the Company had additional operating lease commitments that have not yet commenced of $43 million.

The following table provides the weighted-average remaining lease term and discount rate for operating lease liabilities as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
Weighted-average Remaining Lease Term (years)	6.1		6.4
Weighted-average Discount Rate	5.8	%	5.6	%

The following table provides supplemental cash flow information related to the Company’s operating leases for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Cash paid for Operating Lease Liabilities (a)	$	279	$	280	$	249
Lease Assets obtained as a result of new or modified Lease Liabilities, net of terminations	91		185		207

________________

(a)These payments are included within the Operating Activities section of the Consolidated Statements of Cash Flows.

Finance Leases

The Company leases certain fulfillment equipment under finance leases that expire at various dates through 2029. The Company records finance lease assets, net of accumulated amortization, in Property and Equipment, Net on the Consolidated Balance Sheets. Additionally, the Company records finance lease liabilities in Accrued Expenses and Other and Other Long-term Liabilities on the Consolidated Balance Sheets. Finance lease costs are comprised of the straight-line amortization of the lease asset and the accretion of interest expense under the effective interest method. The Company’s finance lease costs, assets and liabilities were not significant for any period presented.

Leases

The following table provides the components of lease cost for operating leases for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Operating Lease Costs	$	267	$	254	$	238
Variable Lease Costs	108		107		107
Short-term Lease Costs	43		41		37
Total Lease Cost	$	418	$	402	$	382

The following table provides future maturities of operating lease liabilities as of February 1, 2025:


Fiscal Year	(in millions)
2025	$	248
2026	244
2027	192
2028	159
2029	130
Thereafter	312
Total Lease Payments	1,285
Less: Interest	(210)
Present Value of Operating Lease Liabilities	$	1,075

As of February 1, 2025, the Company had additional operating lease commitments that have not yet commenced of $43 million.

The following table provides the weighted-average remaining lease term and discount rate for operating lease liabilities as of February 1, 2025 and February 3, 2024:


	February 1, 2025		February 3, 2024
Weighted-average Remaining Lease Term (years)	6.1		6.4
Weighted-average Discount Rate	5.8	%	5.6	%

The following table provides supplemental cash flow information related to the Company’s operating leases for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Cash paid for Operating Lease Liabilities (a)	$	279	$	280	$	249
Lease Assets obtained as a result of new or modified Lease Liabilities, net of terminations	91		185		207

________________

(a)These payments are included within the Operating Activities section of the Consolidated Statements of Cash Flows.

Finance Leases

Consolidated Balance Sheets Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Feb. 01, 2025	Feb. 03, 2024
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	10	10
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	1,000	1,000
Common stock, shares issued (in shares)	231	240
Common stock, shares outstanding (in shares)	216	225
Treasury stock (in shares)	15	15

Fair Value Measurements - Carrying Value and Fair Value of Long-Term Debt, Disclosure (Details) - USD ($)
$ in Millions

Feb. 01, 2025

Feb. 03, 2024

Reported Value Measurement

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Debt instrument, fair value

^[1]

$ 3,916

$ 4,430

Estimate of Fair Value Measurement

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Debt instrument, fair value

^[1]

$ 3,986

$ 4,456

[1]	The estimated fair value of the Company’s Long-term Debt is based on reported transaction prices, which are considered Level 2 inputs in accordance with ASC 820. The estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.

- Definition

Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.

+ References

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-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Feb. 01, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to various claims and contingencies related to lawsuits, taxes, insurance, regulatory and other matters arising in the ordinary course of business. Actions filed against the Company from time to time may include commercial, tort, intellectual property, tax, customer, employment, wage and hour, data privacy, securities, anti-corruption and other claims, including purported class action lawsuits. Management believes that the ultimate liability arising from such claims and contingencies, if any, is not likely to have a material adverse effect on the Company’s results of operations, financial condition or cash flows. Lease Guarantees In connection with the spin-off of Victoria’s Secret & Co. and the disposal of a certain other business, the Company had remaining contingent obligations of $232 million as of February 1, 2025 related to lease payments under the current terms of noncancelable leases, primarily related to office space, expiring at various dates through 2037. These obligations include minimum rent and additional payments covering taxes, common area costs and certain other expenses and relate to leases that commenced prior to the disposition of these businesses. The Company’s reserves related to these obligations were not significant for any period presented.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Feb. 01, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Long-term Debt and Borrowing Facility - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024
Debt Instrument [Line Items]
Long-term debt	$ 3,884	$ 4,388
With Subsidiary Guarantee \| $500 million, 9.375% Fixed Interest Rate Notes due July 2025 (“2025 Notes”)
Debt Instrument [Line Items]
Long-term debt	0	313
Debt instrument, face amount	$ 500
Interest rate	9.375%
With Subsidiary Guarantee \| $284 million, 6.694% Fixed Interest Rate Notes due January 2027 (“2027 Notes”)
Debt Instrument [Line Items]
Long-term debt	$ 277	287
Debt instrument, face amount	$ 284
Interest rate	6.694%
With Subsidiary Guarantee \| $444 million, 5.250% Fixed Interest Rate Notes due February 2028 (“2028 Notes”)
Debt Instrument [Line Items]
Long-term debt	$ 443	460
Debt instrument, face amount	$ 444
Interest rate	5.25%
With Subsidiary Guarantee \| $482 million, 7.500% Fixed Interest Rate Notes due June 2029 (“2029 Notes”)
Debt Instrument [Line Items]
Long-term debt	$ 476	492
Debt instrument, face amount	$ 482
Interest rate	7.50%
With Subsidiary Guarantee \| $844 million, 6.625% Fixed Interest Rate Notes due October 2030 (“2030 Notes”)
Debt Instrument [Line Items]
Long-term debt	$ 838	930
Debt instrument, face amount	$ 844
Interest rate	6.625%
With Subsidiary Guarantee \| $802 million, 6.875% Fixed Interest Rate Notes due November 2035 (“2035 Notes”)
Debt Instrument [Line Items]
Long-term debt	$ 796	806
Debt instrument, face amount	$ 802
Interest rate	6.875%
With Subsidiary Guarantee \| $575 million, 6.750% Fixed Interest Rate Notes due July 2036 (“2036 Notes”)
Debt Instrument [Line Items]
Long-term debt	$ 571	608
Debt instrument, face amount	$ 575
Interest rate	6.75%
With Subsidiary Guarantee \| Senior Debt Obligations
Debt Instrument [Line Items]
Long-term debt	$ 3,401	3,896
Without Subsidiary Guarantee
Debt Instrument [Line Items]
Long-term debt	483	492
Without Subsidiary Guarantee \| $284 million, 6.950% Fixed Interest Rate Debentures due March 2033 (“2033 Notes”)
Debt Instrument [Line Items]
Long-term debt	283	293
Debt instrument, face amount	$ 284
Interest rate	6.95%
Without Subsidiary Guarantee \| $201 million, 7.600% Fixed Interest Rate Notes due July 2037 (“2037 Notes”)
Debt Instrument [Line Items]
Long-term debt	$ 200	$ 199
Debt instrument, face amount	$ 201
Interest rate	7.60%

Leases - Narrative (Details) $ in Millions	Feb. 01, 2025 USD ($)
Leases [Abstract]
Additional operating lease commitments not yet commenced	$ 43

Income Taxes - Activity Related to its Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Unrecognized Tax Benefits [Roll Forward]
Gross Unrecognized Tax Benefits, as of the Beginning of the Fiscal Year	$ 145	$ 149	$ 147
Increases to Unrecognized Tax Benefits for Prior Years	1	1	14
Decreases to Unrecognized Tax Benefits for Prior Years	(3)	(7)	(12)
Increases to Unrecognized Tax Benefits as a Result of Current Year Activity	12	5	6
Decreases to Unrecognized Tax Benefits Relating to Settlements with Taxing Authorities	0	(1)	(2)
Decreases to Unrecognized Tax Benefits as a Result of a Lapse of the Applicable Statute of Limitations	(6)	(2)	(4)
Gross Unrecognized Tax Benefits, as of the End of the Fiscal Year	$ 149	$ 145	$ 149

Income Taxes - Effect of Temporary Differences that Cause Deferred Income Taxes (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024
Deferred Tax Asset and Liability [Line Items]
Liabilities	$ (418)	$ (520)
Deferred tax assets, valuation allowance	(210)	(253)
Deferred tax assets, net of valuation allowance	524	517
Deferred tax liabilities, net	106	3
Loss Carryforwards
Deferred Tax Asset and Liability [Line Items]
Assets	367	390
Deferred tax assets, net	367	390
Leases
Deferred Tax Asset and Liability [Line Items]
Assets	260	280
Liabilities	(247)	(266)
Deferred tax assets, net	13	14
Capitalized Research and Development
Deferred Tax Asset and Liability [Line Items]
Assets	37	30
Deferred tax assets, net	37	30
Share-based Compensation
Deferred Tax Asset and Liability [Line Items]
Assets	8	9
Deferred tax assets, net	8	9
Property and Equipment
Deferred Tax Asset and Liability [Line Items]
Assets	7	5
Liabilities	(122)	(146)
Deferred tax liabilities, net	115	141
Trade Names
Deferred Tax Asset and Liability [Line Items]
Liabilities	(38)	(38)
Deferred tax liabilities, net	38	38
Other Assets
Deferred Tax Asset and Liability [Line Items]
Liabilities	(1)	(59)
Deferred tax liabilities, net	1	59
Other, Net
Deferred Tax Asset and Liability [Line Items]
Assets	55	56
Liabilities	(10)	(11)
Deferred tax assets, net	$ 45	$ 45

Long-Lived Assets - Details of Property and Equipment, Net (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024
Property, Plant and Equipment [Abstract]
Land and Improvements	$ 87	$ 90
Buildings and Improvements	323	319
Furniture, Fixtures, Software and Equipment	1,879	1,821
Leasehold Improvements	891	850
Construction in Progress	37	43
Total	3,217	3,123
Accumulated Depreciation and Amortization	(2,090)	(1,903)
Property and Equipment, Net	$ 1,127	$ 1,220

Segment Reporting - Narrative (Details)	12 Months Ended
Segment Reporting - Narrative (Details)	Feb. 01, 2025 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Share-based Compensation (Tables)

12 Months Ended

Feb. 01, 2025

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Share-Based Compensation Expense

The following table provides Share-based Compensation Expense included in the Consolidated Statements of Income for 2024, 2023 and 2022:


	2024		2023		2022
	(in millions)
Costs of Goods Sold, Buying and Occupancy	$	11	$	13	$	14
General, Administrative and Store Operating Expenses	29		30		24
Total Share-based Compensation Expense	$	40	$	43	$	38

Restricted Stock Units and Performance Share Units

The following table provides the Company’s restricted stock unit and performance share unit activity on a combined basis for the year ended February 1, 2025:


	Number of Shares	Weighted-average Grant Date Fair Value
	(in thousands)
Unvested as of February 3, 2024	2,580	$	41.49
Granted	1,031	44.65
Vested	(1,088)	44.05
Cancelled	(328)	41.65
Unvested as of February 1, 2025	2,195	$	41.69

Share-based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, restricted and unrestricted shares authorized (in shares)	206
Options and shares available for grant (in shares)	12
Tax benefit (expense) associated with share based compensation	$ 0	$ 1	$ 7
Restricted Stock and Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit (expense) associated with share based compensation	$ 8	$ 6	$ 14
Share-based compensation, weighted average grant date fair value (in dollars per share)	$ 44.65	$ 35.93	$ 44.73
Total intrinsic value of restricted stock vested	$ 50	$ 31	$ 88
Total fair value at grant date of awards vested	48	$ 36
Total unrecognized compensation cost related to unvested restricted stock, net of estimated forfeitures	$ 36
Total unrecognized compensation cost, weighted-average period of recognition, years	1 year 6 months
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, award vesting period	3 years
Minimum \| Stock Options and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, award vesting period	3 years
Maximum \| Stock Options and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, award vesting period	5 years
Maximum \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, award expiration period	10 years

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Current:
U.S. Federal	$ 281	$ 214	$ 180
U.S. State	54	49	48
Non-U.S.	8	7	8
Total	343	270	236
Deferred:
U.S. Federal	(121)	(19)	10
U.S. State	(6)	(2)	0
Non-U.S.	14	(106)	5
Total	(113)	(127)	15
Provision for Income Taxes	$ 230	$ 143	$ 251

Leases - Lease Term and Discount Rate (Details)	Feb. 01, 2025	Feb. 03, 2024
Leases [Abstract]
Weighted-average Remaining Lease Term (years)	6 years 1 month 6 days	6 years 4 months 24 days
Weighted-average Discount Rate	5.80%	5.60%

Other Assets and Liabilities - Other Current Assets (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024
Other Assets and Liabilities [Abstract]
Prepaid Expenses	$ 79	$ 81
Other	35	16
Total Other Current Assets	$ 114	$ 97

Inventories (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024
Inventory, Net [Abstract]
Finished Goods Merchandise	$ 589	$ 558
Raw Materials and Merchandise Components	145	152
Total Inventories	$ 734	$ 710

Share-based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 40	$ 43	$ 38
Costs of Goods Sold, Buying and Occupancy
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	11	13	14
General, Administrative and Store Operating Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 29	$ 30	$ 24

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)(3)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (c)(2)(i)
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 01, 2025

Accounting Policies [Abstract]

Depreciable Life Range of Property Plant and Equipment

The Company’s Property and Equipment are recorded at cost and depreciation is computed on a straight-line basis using the following depreciable life ranges:


Category of Property and Equipment						Depreciable Life Range
Hardware and Software, including software developed for internal use						3 - 5 years
Store related assets						3 - 10 years
Leasehold improvements						Shorter of lease term or 10 years
Non-store related building and site improvements						10 - 15 years
Other property and equipment						20 years
Buildings						30 years

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Operating Loss Carryforwards [Line Items]
Pre-tax income (loss), non-US, arising principally from overseas operations	$ 66	$ 84	$ 94
Operating loss carryforwards	367
Income tax payments	351	231	188
Unrecognized tax benefits resulting in reduction of effective income tax rate	91	131	135
Unrecognized tax benefits reasonably possible change in the next twelve months	111
Interest and penalties related to unrecognized tax benefits of income tax expense	11	9	$ 2
Income tax penalties and interest accrued	30	$ 19
Operating Loss Carryforwards Expiration Year, Unlimited
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 248

Consolidated Statements of Total Equity (Deficit) - USD ($) shares in Millions, $ in Millions	Total	Other Share Repurchase Program	February 2022 Repurchase Program, Accelerated Share Repurchase Program	Common Stock	Common Stock Other Share Repurchase Program	Common Stock February 2022 Repurchase Program, Accelerated Share Repurchase Program	Paid-In Capital	Accumulated Other Comprehensive Income	Retained Earnings (Accumulated Deficit)	Treasury Stock, at Average Cost	Treasury Stock, at Average Cost Other Share Repurchase Program	Treasury Stock, at Average Cost February 2022 Repurchase Program, Accelerated Share Repurchase Program	Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance (in shares)				254
Beginning Balance (in shares) at Jan. 29, 2022				254
Beginning Balance at Jan. 29, 2022	$ (1,517)			$ 134			$ 893	$ 80	$ (1,803)	$ (822)			$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	800								800
Other Comprehensive Income (Loss)	(2)							(2)
Total Comprehensive Income	798							(2)	800
Cash Dividends	(186)								(186)
Repurchase of Common Stock (in shares)					(7)	(20)
Repurchase of Common Stock		$ (312)	$ (1,000)								$ (312)	$ (1,000)
Treasury Share Retirement	0			$ (13)			(87)		(1,212)	1,312
Share-based Compensation and Other (in shares)				2
Share-based Compensation and Other	12			$ 1			11
Ending Balance at Jan. 28, 2023	(2,205)			$ 122			817	78	(2,401)	(822)			1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance (in shares)				229
Beginning Balance (in shares) at Jan. 28, 2023				229
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	878								878
Other Comprehensive Income (Loss)	(3)							(3)
Total Comprehensive Income	875							(3)	878
Cash Dividends	(182)								(182)
Repurchase of Common Stock (in shares)					(4)
Repurchase of Common Stock		(149)									(149)
Treasury Share Retirement	0			$ (2)			(14)		(133)	149
Share-based Compensation and Other (in shares)				0
Share-based Compensation and Other	35			$ 0			35
Ending Balance at Feb. 03, 2024	$ (1,626)			$ 120			838	75	(1,838)	(822)			1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance (in shares)	225			225
Beginning Balance (in shares) at Feb. 03, 2024	225			225
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	$ 798								798
Other Comprehensive Income (Loss)	(4)							(4)
Total Comprehensive Income	794							(4)	798
Cash Dividends	(177)								(177)
Repurchase of Common Stock (in shares)					(10)
Repurchase of Common Stock		$ (400)									$ (400)
Treasury Share Retirement	0			$ (5)			(34)		(361)	400
Share-based Compensation and Other (in shares)				1
Share-based Compensation and Other	26			$ 0			25						1
Ending Balance at Feb. 01, 2025	$ (1,383)			$ 115			$ 829	$ 71	$ (1,578)	$ (822)			$ 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending Balance (in shares)	216			216

Long-Lived Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Depreciation of long-lived assets	$ 282	$ 269	$ 221
Continuing Operations
Revenues from External Customers and Long-Lived Assets [Line Items]
Depreciation of long-lived assets	282	269	$ 221
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 131	$ 138