Macy's (M) 10-Q12 Dec 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Nov. 02, 2024	Nov. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 02, 2024
Document Transition Report	false
Entity File Number	1-13536
Entity Registrant Name	Macy's, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3324058
Entity Address, Address Line One	151 West 34th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	494-1621
Title of 12(b) Security	Common Stock, $.01 par value per share
Trading Symbol	M
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		277,635,790
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000794367
Current Fiscal Year End Date	--02-01

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Income Statement [Abstract]
Net sales	$ 4,742	$ 4,860	$ 14,525	$ 14,972
Other revenue	161	178	474	519
Total revenue	4,903	5,038	14,999	15,491
Cost of sales	(2,864)	(2,905)	(8,749)	(9,070)
Selling, general and administrative expenses	(2,064)	(2,040)	(5,948)	(5,970)
Gains on sale of real estate	66	5	103	20
Impairment, restructuring and other benefits (costs)	23	(15)	5	(21)
Operating income	64	83	410	450
Benefit plan income, net	4	2	12	10
Settlement charges	0	(7)	0	(129)
Interest expense, net	(32)	(35)	(94)	(108)
Losses on early retirement of debt	(1)	0	(1)	0
Income before income taxes	35	43	327	223
Federal, state and local income tax expense	(7)	(2)	(87)	(50)
Net income	$ 28	$ 41	$ 240	$ 173
Basic earnings per share (usd per share)	$ 0.10	$ 0.15	$ 0.86	$ 0.63
Diluted earnings per share (usd per share)	$ 0.10	$ 0.15	$ 0.85	$ 0.62

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 28	$ 41	$ 240	$ 173
Actuarial gain on post employment and postretirement benefit plans, before tax	0	(52)	0	(53)
Amortization of net actuarial loss and prior service credit on post employment and postretirement benefit plans included in net income, before tax	0	1	0	4
Settlement charges, before tax	0	7	0	129
Tax effect related to items of other comprehensive income	0	11	0	(21)
Total other comprehensive income, net of tax effect	0	(33)	0	59
Comprehensive income	$ 28	$ 8	$ 240	$ 232

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Nov. 02, 2024	Feb. 03, 2024	Oct. 28, 2023
Current Assets:
Cash and cash equivalents	$ 315	$ 1,034	$ 364
Receivables	224	293	218
Merchandise inventories	6,257	4,361	6,025
Prepaid expenses and other current assets	416	401	390
Income taxes	34	0	88
Total Current Assets	7,246	6,089	7,085
Property and Equipment - net of accumulated depreciation and amortization of $4,608, $4,276 and $5,066	5,161	5,308	5,813
Right of Use Assets	2,322	2,305	2,784
Goodwill	828	828	828
Other Intangible Assets – net	426	430	431
Other Assets	1,310	1,286	1,185
Total Assets	17,293	16,246	18,126
Short-term debt	92	0	160
Current Liabilities:
Merchandise accounts payable	3,344	1,913	3,466
Accounts payable and accrued liabilities	2,337	2,571	2,448
Income taxes	0	48	0
Total Current Liabilities	5,773	4,532	6,074
Long-Term Debt	2,773	2,998	2,997
Long-Term Lease Liabilities	2,961	2,986	3,034
Deferred Income Taxes	712	745	925
Other Liabilities	927	950	997
Shareholders' Equity	4,147	4,035	4,099
Total Liabilities and Shareholders’ Equity	$ 17,293	$ 16,246	$ 18,126

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Nov. 02, 2024	Feb. 03, 2024	Oct. 28, 2023
Statement of Financial Position [Abstract]
Accumulated depreciation and amortization	$ 4,608	$ 4,276	$ 5,066

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Inventory Valuation and Obsolescence	[1]	Common Stock	Additional Paid-In Capital	Accumulated Equity	Accumulated Equity Inventory Valuation and Obsolescence	[1]	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Jan. 28, 2023	$ 4,040			$ 3	$ 467	$ 6,226			$ (2,038)	$ (618)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	151					151
Other comprehensive income	1									1
Common stock dividends	(45)					(45)
Stock repurchases	25								25
Stock-based compensation expense	14				14
Stock issued under stock plans	(12)				(108)				96
Ending balance at Apr. 29, 2023	$ 4,124			3	373	6,332			(1,967)	(617)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends (usd per share)	$ 0.1654
Beginning balance at Jan. 28, 2023	$ 4,040			3	467	6,226			(2,038)	(618)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	132
Ending balance at Jul. 29, 2023	4,167			3	352	6,267			(1,929)	(526)
Beginning balance at Jan. 28, 2023	4,040			3	467	6,226			(2,038)	(618)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	173
Ending balance at Oct. 28, 2023	4,099			3	367	6,216			(1,928)	(559)
Beginning balance at Jan. 28, 2023	4,040			3	467	6,226			(2,038)	(618)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	45
Ending balance at Feb. 03, 2024	4,035	$ 23		3	352	6,088	$ 23		(1,912)	(496)
Beginning balance at Apr. 29, 2023	4,124			3	373	6,332			(1,967)	(617)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(19)					(19)
Other comprehensive income	91									91
Common stock dividends	(45)				1	(46)
Stock-based compensation expense	16				16
Stock issued under stock plans	0				(38)				38
Ending balance at Jul. 29, 2023	$ 4,167			3	352	6,267			(1,929)	(526)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends (usd per share)	$ 0.1654
Net income	$ 41					41
Other comprehensive income	(33)									(33)
Common stock dividends	(91)				1	(92)
Stock-based compensation expense	15				15
Stock issued under stock plans	0				(1)				1
Ending balance at Oct. 28, 2023	$ 4,099			3	367	6,216			(1,928)	(559)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends (usd per share)	$ 0.3308
Net income	$ (128)
Ending balance at Feb. 03, 2024	4,035	23		3	352	6,088	23		(1,912)	(496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	62					62
Common stock dividends	(48)					(48)
Stock-based compensation expense	13				13
Stock issued under stock plans	(1)				(71)				70
Ending balance at May. 04, 2024	$ 4,084			3	294	6,125			(1,842)	(496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends (usd per share)	$ 0.1737
Beginning balance at Feb. 03, 2024	$ 4,035	$ 23		3	352	6,088	$ 23		(1,912)	(496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	240
Ending balance at Nov. 02, 2024	4,147			3	289	6,157			(1,806)	(496)
Beginning balance at May. 04, 2024	4,084			3	294	6,125			(1,842)	(496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	150					150
Common stock dividends	(48)				1	(49)
Stock-based compensation expense	15				15
Stock issued under stock plans	0				(33)				33
Ending balance at Aug. 03, 2024	$ 4,201			3	277	6,226			(1,809)	(496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends (usd per share)	$ 0.1737
Net income	$ 28					28
Common stock dividends	(96)				1	(97)
Stock-based compensation expense	14				14
Stock issued under stock plans	0				(3)				3
Ending balance at Nov. 02, 2024	$ 4,147			$ 3	$ 289	$ 6,157			$ (1,806)	$ (496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends (usd per share)	$ 0.3474

[1]Represents the cumulative-effect adjustment for the change in inventory valuation method.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Nov. 02, 2024	Aug. 03, 2024	May 04, 2024	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023
Statement of Stockholders' Equity [Abstract]
Common stock dividends (usd per share)	$ 0.3474	$ 0.1737	$ 0.1737	$ 0.3308	$ 0.1654	$ 0.1654

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended					6 Months Ended	9 Months Ended		12 Months Ended
	Nov. 02, 2024	May 04, 2024	Feb. 03, 2024	Oct. 28, 2023	Apr. 29, 2023	Jul. 29, 2023	Nov. 02, 2024	Oct. 28, 2023	Feb. 03, 2024	Jan. 28, 2023
Cash flows from operating activities:
Net income	$ 28	$ 62	$ (128)	$ 41	$ 151	$ 132	$ 240	$ 173	$ 45	$ 1,146
Adjustments to reconcile net income to net cash provided by operating activities:
Impairment, restructuring and other costs	(23)			15			(5)	21
Settlement charges	0			7			0	129
Depreciation and amortization							657	665
Stock-based compensation expense							42	45
Gains on sale of real estate	(66)			(5)			(103)	(20)
Benefit plans							1	4
Amortization of financing costs and premium on acquired debt							9	8
Deferred income taxes							(48)	(43)
Changes in assets and liabilities:
Decrease in receivables							68	82
Increase in merchandise inventories							(1,840)	(1,757)
(Increase) decrease in prepaid expenses and other current assets							(19)	30
Increase in merchandise accounts payable							1,327	1,334
Decrease in accounts payable and accrued liabilities							(206)	(302)	(266)	(133)
Decrease in current income taxes							(71)	(124)	3	(85)
Change in other assets and liabilities							(82)	(87)
Net cash (used) provided by operating activities							(30)	158
Cash flows from investing activities:
Purchase of property and equipment							(399)	(485)
Capitalized software							(250)	(264)
Proceeds from disposition of assets, net							187	36
Other, net							7	(3)
Net cash used by investing activities							(455)	(716)
Cash flows from financing activities:
Debt issued							176	311
Debt issuance costs							(1)	(1)
Debt repaid							(313)	(153)
Debt repurchase premium and expenses							1	0
Dividends paid							(144)	(135)
Increase in outstanding checks							47	76
Acquisition of treasury stock							0	(38)
Net cash (used) provided by financing activities							(234)	60
Net decrease in cash, cash equivalents and restricted cash							(719)	(498)
Cash, cash equivalents and restricted cash beginning of period		$ 1,037	367		$ 865	$ 865	1,037	865	865
Cash, cash equivalents and restricted cash end of period	318		$ 1,037	367			318	367	$ 1,037	$ 865
Supplemental cash flow information:
Interest paid							137	138
Interest received							30	19
Income taxes paid, net of refunds received							207	217
Restricted cash, end of period	$ 3			$ 3			$ 3	$ 3

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Nov. 02, 2024	Oct. 28, 2023
Statement of Cash Flows [Abstract]
Restricted cash, end of period	$ 3	$ 3

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
Organization and Summary of Significant Accounting Policies	Nov. 02, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Nature of Operations Macy's, Inc., together with its subsidiaries (the "Company"), is an omni-channel retail organization operating stores, websites and mobile applications under three nameplates (Macy's, Bloomingdale's and Bluemercury) that sell a wide range of merchandise, including apparel and accessories (men's, women's and kids'), cosmetics, home furnishings and other consumer goods. The Company has stores in 43 states, the District of Columbia, Puerto Rico and Guam. As of November 2, 2024, the Company's operations and operating segments were conducted through Macy's (both full line and small format), Macy's Backstage, Bloomingdale's, Bloomingdale's The Outlet, Bloomie's, and Bluemercury. Bloomingdale's in Dubai, United Arab Emirates and Al Zahra, Kuwait are operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC. A description of the Company's significant accounting policies is included in the Company's Annual Report on Form 10-K for the fiscal year ended February 3, 2024 (the "2023 10-K"). The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto in the 2023 10-K. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions are subject to inherent uncertainties which may result in actual amounts differing from reported amounts. The Consolidated Financial Statements for the 13 and 39 weeks ended November 2, 2024 and October 28, 2023, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly, in all material respects, the consolidated financial position and results of operations of the Company. Seasonality Because of the seasonal nature of the retail business, the results of operations for the 13 and 39 weeks ended November 2, 2024 and October 28, 2023 (which do not include the holiday season) are not necessarily indicative of such results for the full fiscal year. Merchandise Inventories On February 4, 2024, the Company changed its inventory valuation method. Previously, inventories were principally valued at lower of cost or market using the last-in, first-out ("LIFO") retail inventory method ("RIM"). Commencing in fiscal 2024, inventories are valued at the lower of cost or market using the LIFO cost method and as such are not directly comparable to the prior year. The LIFO cost method is preferable as compared to LIFO RIM because it improves the cost accuracy and transparency of inventory at the unit level and better allows the organization to evaluate selling margin realized on each sale. Additionally, it is consistent with the practices of many other retailers, improving comparability. Reported results for periods prior to fiscal 2024 have not been restated due to impracticability as the Company’s systems did not capture historical period-specific information necessary to value the inventory under the cost method. The impact of the change in accounting method had an immaterial effect on the Consolidated Financial Statements as of February 4, 2024. Under the LIFO cost method, the item-cost method is used to determine inventory cost before the application of any LIFO adjustment, as necessary. This method involves assigning costs to each item individually based on the actual purchase costs of that item. The Company continuously monitors whether the carrying cost of inventory exceeds its market value. Excess inventories may be disposed of through the normal course of business. The Company writes down the carrying value of inventories that are not expected to be sold at or above cost based on historical results. Comprehensive Income Total comprehensive income represents the change in equity during a period from sources other than transactions with shareholders and, as such, includes net income. For the Company, the only other components of total comprehensive income for the 13 and 39 weeks ended November 2, 2024 and October 28, 2023 relate to post employment and postretirement plan items. Settlement charges incurred are included as a separate component of income before income taxes in the Consolidated Statements of Income. Amortization reclassifications out of accumulated other comprehensive income (loss) are included in the computation of net periodic benefit cost (income) and are included in benefit plan income, net on the Consolidated Statements of Income. See Note 5, "Retirement Plans," for further information. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update enhance segment reporting by expanding the breadth and frequency of segment disclosures required by public entities. Most notable, registrants will be required to disclose: (1) significant segment expenses regularly provided to the Chief Operating Decisions Maker ("CODM") and included within the reported measure(s) of a segment's profit or loss, (2) the amount and composition of other segment items, (3) how the CODM uses the reported measure(s) of a segment's profit or loss to assess segment performance and decide how to allocate resources, (4) on an interim basis, all segment profit or loss and asset disclosures currently required annually by Topic 280, as well as those introduced by the ASU, and (5) the CODM's title and position. ASU 2023-07 is effective for the Company beginning in the fiscal year ending February 1, 2025. The Company is currently evaluating the impacts of the adoption of ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"). The amendments in this update enhance the transparency and decision usefulness of income tax disclosures, primarily through improvements to the rate reconciliation and income taxes paid information, specifically requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation, and (2) income taxes paid disaggregation by jurisdiction. These amendments allow investors to better assess how an entity's operations and tax related risks and planning affects its income tax rate and prospects for future cash flows. ASU 2023-09 is effective for the Company beginning in the fiscal year ending January 31, 2026. The Company is currently evaluating the impacts of the adoption of ASU 2023-09. In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)" ("ASU 2024-03"). The amendments in this update enhance disclosures about a public business entity’s expenses and provide more detailed information about the types of expenses included in certain expense captions in the consolidated financial statements. ASU 2024-03 is effective for the Company beginning in the fiscal year ending January 29, 2028. The Company is currently evaluating the impacts of the adoption of ASU 2024-03.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Nov. 02, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: 13 Weeks Ended November 2, 2024 October 28, 2023 Net Income Shares Net Income Shares (millions, except per share data) Net income and average number of shares outstanding $ 28 277.4 $ 41 273.7 Shares to be issued under deferred compensation and other plans 1.0 1.0 $ 28 278.4 $ 41 274.7 Basic earnings per share $ 0.10 $ 0.15 Effect of dilutive securities: Stock options and restricted stock units 3.1 2.9 $ 28 281.5 $ 41 277.6 Diluted earnings per share $ 0.10 $ 0.15 39 Weeks Ended November 2, 2024 October 28, 2023 Net Income Shares Net Income Shares (millions, except per share data) Net income and average number of shares outstanding $ 240 276.5 $ 173 272.9 Shares to be issued under deferred compensation and other plans 0.9 1.0 $ 240 277.4 $ 173 273.9 Basic earnings per share $ 0.86 $ 0.63 Effect of dilutive securities: Stock options and restricted stock units 3.9 3.8 $ 240 281.3 $ 173 277.7 Diluted earnings per share $ 0.85 $ 0.62

Revenue

Revenue	9 Months Ended
Revenue	Nov. 02, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Net sales, which mainly consist of retail sales but also include merchandise returns, gift cards and loyalty programs, represented 97% and 96% of total revenue for the 13 weeks ended November 2, 2024 and October 28, 2023, respectively, and 97% of total revenue for both of the 39 weeks ended November 2, 2024 and October 28, 2023. Other revenue generating activities consist of credit card revenues as well as Macy's Media Network revenue. 13 Weeks Ended 39 Weeks Ended Revenues November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (millions) Women's Accessories, Shoes, Cosmetics and Fragrances $ 1,971 $ 1,992 $ 6,031 $ 6,067 Women's Apparel 1,077 1,088 3,342 3,348 Men's and Kids' 1,034 1,049 3,071 3,177 Home/Other (a) 660 731 2,081 2,380 Total Net Sales 4,742 4,860 $ 14,525 $ 14,972 Credit card revenues, net $ 120 $ 142 $ 362 $ 424 Macy's Media Network revenue, net (b) 41 36 112 95 Other Revenue 161 178 474 519 Total Revenue $ 4,903 $ 5,038 $ 14,999 $ 15,491 (a) Other primarily includes restaurant sales, allowance for merchandise returns adjustments and breakage income from unredeemed gift cards. (b) Macy's Media Network is an in-house media platform supporting both Macy's and Bloomingdale's customers through a broad variety of advertising formats running both on owned and operated platforms as well as offsite. Macy's accounted for 84% of the Company's net sales for the 13 and 39 weeks ended November 2, 2024 and 85% of the Company's net sales for the 13 and 39 weeks ended October 28, 2023. In addition, digital sales accounted for 30% of the Company's net sales for each of the 13 and 39 weeks ended November 2, 2024 and 31% of the Company's net sales for each of the 13 and 39 weeks ended October 28, 2023. Retail Sales Retail sales include merchandise sales, inclusive of delivery income, licensed department income, Marketplace income, sales of private brand goods directly to third party retailers and sales of excess inventory to third parties. Sales of merchandise are recorded at point of sale for in-store purchases or the time of shipment to the customer for digital purchases and are reported net of estimated merchandise returns and certain customer incentives. Commissions earned on sales generated by licensed departments and Marketplace are included as a component of total net sales and are recognized as revenue at the time merchandise is sold to customers. Service revenues (e.g., alteration and cosmetic services) are recorded at the time the customer receives the benefit of the service. The Company has elected to present sales taxes on a net basis and sales taxes are included in accounts payable and accrued liabilities until remitted to the taxing authorities. Merchandise Returns The Company estimates merchandise returns using historical data and recognizes an allowance that reduces net sales and cost of sales. The liability for merchandise returns is included in accounts payable and accrued liabilities on the Company's Consolidated Balance Sheets and was $174 million, $136 million and $190 million as of November 2, 2024, February 3, 2024 and October 28, 2023, respectively. Included in prepaid expenses and other current assets is an asset totaling $103 million, $83 million and $114 million as of November 2, 2024, February 3, 2024 and October 28, 2023, respectively, for the recoverable cost of merchandise estimated to be returned by customers. Gift Cards and Customer Loyalty Programs The Company only offers no-fee, non-expiring gift cards to its customers. At the time gift cards are sold or issued, no revenue is recognized; rather, the Company records an accrued liability to customers. The liability is relieved, and revenue is recognized, equal to the amount redeemed at the time gift cards are redeemed for merchandise. The Company records revenue from unredeemed gift cards (breakage) in net sales on a pro-rata basis over the time period gift cards are actually redeemed. At least three years of historical data, updated annually, is used to determine actual redemption patterns. The Company maintains customer loyalty programs in which customers earn points based on their purchases. Under the Macy's Star Rewards loyalty program, points are earned based on customers' spending on Macy's private label and co-branded credit cards as well as non-proprietary cards and other forms of tender. Bloomingdale's Loyallist and Bluemercury BlueRewards programs provide tender neutral points-based programs to their customers. The Company recognizes the estimated net amount of the rewards that will be earned and redeemed as a reduction to net sales at the time of the initial transaction and as tender when the points are subsequently redeemed by a customer. The liability for unredeemed gift cards and customer loyalty programs is included in accounts payable and accrued liabilities on the Company's Consolidated Balance Sheets and was $331 million, $384 million and $336 million as of November 2, 2024, February 3, 2024 and October 28, 2023, respectively. Credit Card Revenues In 2005, in connection with the sale of most of the Company's credit card accounts and related receivable balances to Citibank, the Company and Citibank entered into a long-term marketing and servicing alliance pursuant to the terms of a Credit Card Program Agreement ("Credit Card Program"). Subsequent to this initial arrangement and associated amendments, on December 13, 2021, the Company entered into the sixth amendment to the amended and restated Credit Card Program with Citibank (the "Program Agreement"). The changes to the Credit Card Program's financial structure are not materially different from its previous terms. As part of the Program Agreement, the Company receives payments for providing a combination of interrelated services and intellectual property to Citibank in support of the underlying Credit Card Program. Revenue based on the spending activity of the underlying accounts is recognized as the respective card purchases occur and the Company's profit share is recognized based on the performance of the underlying portfolio. Revenue associated with the establishment of new credit accounts and assisting in the receipt of payments for existing accounts is recognized as such activities occur. Credit card revenues include finance charges, late fees and other revenue generated by the Company’s Credit Card Program, net of fraud losses and expenses associated with establishing new accounts, credit card funding costs and bad debt reserves and are a component of other revenue on the consolidated statements of income. The Program Agreement expires on March 31, 2030, subject to an additional renewal term of three years. The Program Agreement provides for, among other things, (i) the ownership by Citibank of the accounts purchased by Citibank, (ii) the ownership by Citibank of new accounts opened by the Company’s customers, (iii) the provision of credit by Citibank to the holders of the credit cards associated with the foregoing accounts, (iv) the servicing of the foregoing accounts, and (v) the allocation between Citibank and the Company of the economic benefits and burdens associated with the foregoing and other aspects of the alliance. Pursuant to the Program Agreement, the Company continues to provide certain servicing functions related to the accounts and related receivables owned by Citibank and receives compensation from Citibank for these services. The amounts earned under the Program Agreement related to the servicing functions are deemed adequate compensation and, accordingly, no servicing asset or liability has been recorded on the Consolidated Balance Sheets.

Financing Activities

Financing Activities	9 Months Ended
Financing Activities	Nov. 02, 2024
Debt Disclosure [Abstract]
Financing Activities	Financing Activities The following table shows the detail of debt repayments: 39 Weeks Ended November 2, 2024 October 28, 2023 (millions) Revolving credit agreement $ 90 $ 151 6.79% Senior debentures due 2027 10 — 6.7% Senior exchanged debentures due 2028 19 — 6.7% Senior debentures due 2028 1 — 7.0% Senior debentures due 2028 10 — 5.875% Senior debentures due 2029 174 — 6.9% Senior debentures due 2029 7 — $ 311 $ 151 On September 18, 2024, Macy’s Retail Holdings, LLC (“MRH”), a direct, wholly owned subsidiary of Macy’s, Inc., completed a tender offer in which $221 million aggregate principal amount of certain senior notes and debentures were tendered for early settlement and purchased by MRH. The total cash cost for the tender offer was $225 million and was funded using cash on hand. The Company recognized $1 million of losses on early retirement of debt on the Consolidated Statements of Income during the third quarter of 2024. The Company is party to an ABL Credit Facility with certain financial institutions providing for a $3,000 million asset-based credit facility (the "ABL Credit Facility"). The Company borrowed $176 million and repaid $90 million of debt under the ABL Credit Facility during the 13 and 39 weeks ended November 2, 2024. The Company borrowed $311 million and repaid $151 million of debt under the ABL Credit Facility during the 13 and 39 weeks ended October 28, 2023. As of November 2, 2024 and October 28, 2023, the Company had $144 million and $138 million of standby letters of credit outstanding under the ABL Credit Facility, respectively, which reduced the available borrowing capacity to $2,856 million and $2,862 million, respectively. The Company had $86 million outstanding borrowings under the ABL Credit Facility as of November 2, 2024 and $160 million outstanding as of October 28, 2023.

Retirement Plans

Retirement Plans	9 Months Ended
Retirement Plans	Nov. 02, 2024
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Retirement Plans	Retirement Plans The Company has defined contribution plans that cover substantially all employees who work 1,000 hours or more in a year. In addition, the Company has a funded defined benefit plan ("Pension Plan") and an unfunded defined benefit supplementary retirement plan ("SERP"), which provides benefits, for certain employees, in excess of qualified plan limitations. Effective January 1, 2012, the Pension Plan was closed to new participants, with limited exceptions, and effective January 2, 2012, the SERP was closed to new participants. In February 2013, the Company announced changes to the Pension Plan and SERP whereby eligible employees no longer earn future pension service credits after December 31, 2013, with limited exceptions. All retirement benefits attributable to service in subsequent periods are provided through defined contribution plans. In addition, certain retired employees currently are provided with specified health care and life insurance benefits ("Postretirement Obligations"). Eligibility requirements for such benefits vary, but generally state that benefits are available to eligible employees who were hired prior to a certain date and retire after a certain age with specified years of service. Certain employees are subject to having such benefits modified or terminated. The defined contribution plan expense and actuarially determined components of the net periodic benefit cost (income) associated with the defined benefit plans are as follows: 13 Weeks Ended 39 Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (millions) 401(k) Qualified Defined Contribution Plan $ 22 $ 19 $ 68 $ 63 Pension Plan Interest cost $ 18 $ 19 54 63 Expected return on assets (28) (29) (86) (97) Recognition of net actuarial loss — 1 2 4 $ (10) $ (9) $ (30) $ (30) Supplementary Retirement Plan Interest cost $ 5 $ 6 $ 16 $ 17 Recognition of net actuarial loss 2 1 5 5 $ 7 $ 7 $ 21 $ 22 Total Retirement Expense $ 19 $ 17 $ 59 $ 55 Postretirement Obligations Interest cost $ 1 $ 1 $ 3 $ 3 Recognition of net actuarial gain (2) (1) (5) (4) Amortization of prior service credit — — $ (1) $ (1) $ (1) $ — $ (3) $ (2) In connection with the Company's defined benefit plans, for the 13 and 39 weeks ended October 28, 2023, the Company incurred non-cash settlement charges of $7 million and $129 million, respectively. For the 13 weeks ended October 28, 2023, these charges relate to the pro-rata recognition of net actuarial losses associated with the Company's Pension Plan and are the result of an increase in lump sum distributions associated with the retiree distribution elections. For the 39 weeks ended October 28, 2023, these charges relate to the pro-rata recognition of net actuarial losses associated with the Company's Pension Plan and are the result of the transfer of pension obligations for certain retirees and beneficiaries under the Pension Plan through the purchase of a group annuity contract with an insurance company, which occurred in the second quarter of 2023.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Nov. 02, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value Measurements	Fair Value Measurements The Company's financial assets are required to be measured at fair value on a recurring basis, by level within the hierarchy as defined by applicable accounting standards. Level 1: Quoted prices in active markets for identical assets Level 2: Significant observable inputs for the assets Level 3: Significant unobservable inputs for the assets The following table shows the estimated fair value of the Company's marketable equity and debt securities: Fair Value Measurements Total Level 1 Level 2 Level 3 (millions) November 2, 2024 $ 41 $ 41 $ — $ — February 3, 2024 42 42 — — October 28, 2023 37 37 — — Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, receivables, certain short-term investments and other assets, short-term debt, merchandise accounts payable, accounts payable and accrued liabilities and long-term debt. With the exception of long-term debt, the carrying amount of these financial instruments approximates fair value because of the short maturity of these instruments. The fair values of long-term debt, excluding capitalized leases, are generally estimated based on quoted market prices for identical or similar instruments, and are classified as Level 2 measurements within the hierarchy as defined by applicable accounting standards. The following table shows the estimated fair value of the Company's long-term debt, including the current portion of long-term debt: Notional Amount Carrying Amount Fair Value (millions) November 2, 2024 $ 2,785 $ 2,779 $ 2,492 February 3, 2024 3,007 2,998 2,706 October 28, 2023 3,007 2,997 2,325

Supplier Finance Programs

Supplier Finance Programs	9 Months Ended
Supplier Finance Programs	Nov. 02, 2024
Payables and Accruals [Abstract]
Supplier Finance Programs	Supplier Finance Programs The Company has agreements with third-party financial institutions to facilitate supply chain finance ("SCF") programs. The programs allow qualifying suppliers to sell their receivables, on an invoice level at the selection of the supplier, from the Company to the financial institution and negotiate their outstanding receivable arrangements and associated fees directly with the financial institution. Macy's, Inc. is not party to the agreements between the supplier and the financial institution. The supplier invoices that have been confirmed as valid under the SCF programs require payment in full by the financial institution to the supplier by the original maturity date of the invoice, or discounted payment at an earlier date as agreed upon with the supplier. The Company's obligations to its suppliers, including amounts due and scheduled payment terms, are not impacted by a supplier’s participation in the SCF programs. All outstanding amounts related to suppliers participating in the SCF programs are recorded upon confirmation with the third-party institutions in merchandise accounts payable November 2, 2024, February 3, 2024 and October 28, 2023 were $162 million, $112 million and $164 million, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Nov. 02, 2024

Aug. 03, 2024

May 04, 2024

Feb. 03, 2024

Oct. 28, 2023

Jul. 29, 2023

Apr. 29, 2023

Jul. 29, 2023

Nov. 02, 2024

Oct. 28, 2023

Feb. 03, 2024

Jan. 28, 2023

Jan. 29, 2022

Pay vs Performance Disclosure

Net income

$ 28

$ 150

$ 62

$ (128)

$ 41

$ (19)

$ 151

$ 132

$ 240

$ 173

$ 45

$ 1,146

$ 1,419

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Nov. 02, 2024
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

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Nov. 02, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions are subject to inherent uncertainties which may result in actual amounts differing from reported amounts. The Consolidated Financial Statements for the 13 and 39 weeks ended November 2, 2024 and October 28, 2023, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly, in all material respects, the consolidated financial position and results of operations of the Company.
Seasonality	Seasonality Because of the seasonal nature of the retail business, the results of operations for the 13 and 39 weeks ended November 2, 2024 and October 28, 2023 (which do not include the holiday season) are not necessarily indicative of such results for the full fiscal year.
Comprehensive Income	Comprehensive Income
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update enhance segment reporting by expanding the breadth and frequency of segment disclosures required by public entities. Most notable, registrants will be required to disclose: (1) significant segment expenses regularly provided to the Chief Operating Decisions Maker ("CODM") and included within the reported measure(s) of a segment's profit or loss, (2) the amount and composition of other segment items, (3) how the CODM uses the reported measure(s) of a segment's profit or loss to assess segment performance and decide how to allocate resources, (4) on an interim basis, all segment profit or loss and asset disclosures currently required annually by Topic 280, as well as those introduced by the ASU, and (5) the CODM's title and position. ASU 2023-07 is effective for the Company beginning in the fiscal year ending February 1, 2025. The Company is currently evaluating the impacts of the adoption of ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"). The amendments in this update enhance the transparency and decision usefulness of income tax disclosures, primarily through improvements to the rate reconciliation and income taxes paid information, specifically requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation, and (2) income taxes paid disaggregation by jurisdiction. These amendments allow investors to better assess how an entity's operations and tax related risks and planning affects its income tax rate and prospects for future cash flows. ASU 2023-09 is effective for the Company beginning in the fiscal year ending January 31, 2026. The Company is currently evaluating the impacts of the adoption of ASU 2023-09. In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)" ("ASU 2024-03"). The amendments in this update enhance disclosures about a public business entity’s expenses and provide more detailed information about the types of expenses included in certain expense captions in the consolidated financial statements. ASU 2024-03 is effective for the Company beginning in the fiscal year ending January 29, 2028. The Company is currently evaluating the impacts of the adoption of ASU 2024-03.
Revenue	Retail Sales Retail sales include merchandise sales, inclusive of delivery income, licensed department income, Marketplace income, sales of private brand goods directly to third party retailers and sales of excess inventory to third parties. Sales of merchandise are recorded at point of sale for in-store purchases or the time of shipment to the customer for digital purchases and are reported net of estimated merchandise returns and certain customer incentives. Commissions earned on sales generated by licensed departments and Marketplace are included as a component of total net sales and are recognized as revenue at the time merchandise is sold to customers. Service revenues (e.g., alteration and cosmetic services) are recorded at the time the customer receives the benefit of the service. The Company has elected to present sales taxes on a net basis and sales taxes are included in accounts payable and accrued liabilities until remitted to the taxing authorities. Merchandise Returns The Company estimates merchandise returns using historical data and recognizes an allowance that reduces net sales and cost of sales. The liability for merchandise returns is included in accounts payable and accrued liabilities on the Company's Consolidated Balance Sheets and was $174 million, $136 million and $190 million as of November 2, 2024, February 3, 2024 and October 28, 2023, respectively. Included in prepaid expenses and other current assets is an asset totaling $103 million, $83 million and $114 million as of November 2, 2024, February 3, 2024 and October 28, 2023, respectively, for the recoverable cost of merchandise estimated to be returned by customers. Gift Cards and Customer Loyalty Programs The Company only offers no-fee, non-expiring gift cards to its customers. At the time gift cards are sold or issued, no revenue is recognized; rather, the Company records an accrued liability to customers. The liability is relieved, and revenue is recognized, equal to the amount redeemed at the time gift cards are redeemed for merchandise. The Company records revenue from unredeemed gift cards (breakage) in net sales on a pro-rata basis over the time period gift cards are actually redeemed. At least three years of historical data, updated annually, is used to determine actual redemption patterns. The Company maintains customer loyalty programs in which customers earn points based on their purchases. Under the Macy's Star Rewards loyalty program, points are earned based on customers' spending on Macy's private label and co-branded credit cards as well as non-proprietary cards and other forms of tender. Bloomingdale's Loyallist and Bluemercury BlueRewards programs provide tender neutral points-based programs to their customers. The Company recognizes the estimated net amount of the rewards that will be earned and redeemed as a reduction to net sales at the time of the initial transaction and as tender when the points are subsequently redeemed by a customer. The liability for unredeemed gift cards and customer loyalty programs is included in accounts payable and accrued liabilities on the Company's Consolidated Balance Sheets and was $331 million, $384 million and $336 million as of November 2, 2024, February 3, 2024 and October 28, 2023, respectively. Credit Card Revenues In 2005, in connection with the sale of most of the Company's credit card accounts and related receivable balances to Citibank, the Company and Citibank entered into a long-term marketing and servicing alliance pursuant to the terms of a Credit Card Program Agreement ("Credit Card Program"). Subsequent to this initial arrangement and associated amendments, on December 13, 2021, the Company entered into the sixth amendment to the amended and restated Credit Card Program with Citibank (the "Program Agreement"). The changes to the Credit Card Program's financial structure are not materially different from its previous terms. As part of the Program Agreement, the Company receives payments for providing a combination of interrelated services and intellectual property to Citibank in support of the underlying Credit Card Program. Revenue based on the spending activity of the underlying accounts is recognized as the respective card purchases occur and the Company's profit share is recognized based on the performance of the underlying portfolio. Revenue associated with the establishment of new credit accounts and assisting in the receipt of payments for existing accounts is recognized as such activities occur. Credit card revenues include finance charges, late fees and other revenue generated by the Company’s Credit Card Program, net of fraud losses and expenses associated with establishing new accounts, credit card funding costs and bad debt reserves and are a component of other revenue on the consolidated statements of income. The Program Agreement expires on March 31, 2030, subject to an additional renewal term of three years. The Program Agreement provides for, among other things, (i) the ownership by Citibank of the accounts purchased by Citibank, (ii) the ownership by Citibank of new accounts opened by the Company’s customers, (iii) the provision of credit by Citibank to the holders of the credit cards associated with the foregoing accounts, (iv) the servicing of the foregoing accounts, and (v) the allocation between Citibank and the Company of the economic benefits and burdens associated with the foregoing and other aspects of the alliance. Pursuant to the Program Agreement, the Company continues to provide certain servicing functions related to the accounts and related receivables owned by Citibank and receives compensation from Citibank for these services. The amounts earned under the Program Agreement related to the servicing functions are deemed adequate compensation and, accordingly, no servicing asset or liability has been recorded on the Consolidated Balance Sheets.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Nov. 02, 2024
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: 13 Weeks Ended November 2, 2024 October 28, 2023 Net Income Shares Net Income Shares (millions, except per share data) Net income and average number of shares outstanding $ 28 277.4 $ 41 273.7 Shares to be issued under deferred compensation and other plans 1.0 1.0 $ 28 278.4 $ 41 274.7 Basic earnings per share $ 0.10 $ 0.15 Effect of dilutive securities: Stock options and restricted stock units 3.1 2.9 $ 28 281.5 $ 41 277.6 Diluted earnings per share $ 0.10 $ 0.15 39 Weeks Ended November 2, 2024 October 28, 2023 Net Income Shares Net Income Shares (millions, except per share data) Net income and average number of shares outstanding $ 240 276.5 $ 173 272.9 Shares to be issued under deferred compensation and other plans 0.9 1.0 $ 240 277.4 $ 173 273.9 Basic earnings per share $ 0.86 $ 0.63 Effect of dilutive securities: Stock options and restricted stock units 3.9 3.8 $ 240 281.3 $ 173 277.7 Diluted earnings per share $ 0.85 $ 0.62

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Nov. 02, 2024
Revenue from Contract with Customer [Abstract]
Summary of Sales From Merchandise Category	Other revenue generating activities consist of credit card revenues as well as Macy's Media Network revenue. 13 Weeks Ended 39 Weeks Ended Revenues November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (millions) Women's Accessories, Shoes, Cosmetics and Fragrances $ 1,971 $ 1,992 $ 6,031 $ 6,067 Women's Apparel 1,077 1,088 3,342 3,348 Men's and Kids' 1,034 1,049 3,071 3,177 Home/Other (a) 660 731 2,081 2,380 Total Net Sales 4,742 4,860 $ 14,525 $ 14,972 Credit card revenues, net $ 120 $ 142 $ 362 $ 424 Macy's Media Network revenue, net (b) 41 36 112 95 Other Revenue 161 178 474 519 Total Revenue $ 4,903 $ 5,038 $ 14,999 $ 15,491 (a) Other primarily includes restaurant sales, allowance for merchandise returns adjustments and breakage income from unredeemed gift cards. (b)

Financing (Tables)

Financing (Tables)	9 Months Ended
Financing (Tables)	Nov. 02, 2024
Debt Disclosure [Abstract]
Schedule of Extinguishment of Debt	The following table shows the detail of debt repayments: 39 Weeks Ended November 2, 2024 October 28, 2023 (millions) Revolving credit agreement $ 90 $ 151 6.79% Senior debentures due 2027 10 — 6.7% Senior exchanged debentures due 2028 19 — 6.7% Senior debentures due 2028 1 — 7.0% Senior debentures due 2028 10 — 5.875% Senior debentures due 2029 174 — 6.9% Senior debentures due 2029 7 — $ 311 $ 151

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
Retirement Plans (Tables)	Nov. 02, 2024
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Summary of Costs of Retirement Plans	The defined contribution plan expense and actuarially determined components of the net periodic benefit cost (income) associated with the defined benefit plans are as follows: 13 Weeks Ended 39 Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (millions) 401(k) Qualified Defined Contribution Plan $ 22 $ 19 $ 68 $ 63 Pension Plan Interest cost $ 18 $ 19 54 63 Expected return on assets (28) (29) (86) (97) Recognition of net actuarial loss — 1 2 4 $ (10) $ (9) $ (30) $ (30) Supplementary Retirement Plan Interest cost $ 5 $ 6 $ 16 $ 17 Recognition of net actuarial loss 2 1 5 5 $ 7 $ 7 $ 21 $ 22 Total Retirement Expense $ 19 $ 17 $ 59 $ 55 Postretirement Obligations Interest cost $ 1 $ 1 $ 3 $ 3 Recognition of net actuarial gain (2) (1) (5) (4) Amortization of prior service credit — — $ (1) $ (1) $ (1) $ — $ (3) $ (2)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Nov. 02, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Summary of Fair Value of Plan Assets Measured on a Recurring Basis	The Company's financial assets are required to be measured at fair value on a recurring basis, by level within the hierarchy as defined by applicable accounting standards. Level 1: Quoted prices in active markets for identical assets Level 2: Significant observable inputs for the assets Level 3: Significant unobservable inputs for the assets The following table shows the estimated fair value of the Company's marketable equity and debt securities: Fair Value Measurements Total Level 1 Level 2 Level 3 (millions) November 2, 2024 $ 41 $ 41 $ — $ — February 3, 2024 42 42 — — October 28, 2023 37 37 — —
Summary of Estimated Fair Values of Company's Long Term Debt	The following table shows the estimated fair value of the Company's long-term debt, including the current portion of long-term debt: Notional Amount Carrying Amount Fair Value (millions) November 2, 2024 $ 2,785 $ 2,779 $ 2,492 February 3, 2024 3,007 2,998 2,706 October 28, 2023 3,007 2,997 2,325

Revision of Consolidated Financ

Revision of Consolidated Financial Statements for Correction of Immaterial Misstatement (Tables)	9 Months Ended
	Nov. 02, 2024
Accounting Changes and Error Corrections [Abstract]
Revision of Consolidated Financial Statements for Correction of Immaterial Misstatement	Revision of Consolidated Financial Statements for Correction of Immaterial Misstatement During the preparation of the Company's unaudited consolidated financial statements for the fiscal quarter ended November 2, 2024, the Company identified an issue related to delivery expenses, a component of cost of sales, in one of its accrual accounts. The Company consequently initiated an independent investigation. As a result of the independent investigation and forensic analysis, the Company identified that a single employee with responsibility for small package delivery expense accounting intentionally made erroneous accounting accrual entries and falsified underlying documentation to hide approximately $151 million of cumulative delivery expenses from the fourth quarter of 2021 through the third quarter of 2024. The Company concluded that revisions should be made to its historical consolidated financial statements that were impacted by these misstatements to properly reflect delivery expense, the related accrual and tax effects. The total misstatement to delivery expense for the first half of fiscal 2024 amounted to approximately $9 million, which was adjusted in total during the third quarter of 2024. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality , and SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements , the Company evaluated the errors and determined that the related impact was not material to results of operations or financial position for any historical annual or interim period. Specifically, the errors identified did not impact net sales which the Company believes is a key financial metric of the users of the financial statements and do not impact trends in profitability or key financial statement operating metrics. The errors also did not impact the company’s cash management activities or vendor payments, net cash flows from operating activities or the Company’s compliance with its debt covenants. Based on this assessment and the consideration of both quantitative and qualitative factors, management determined that the errors are not material to any prior period. However, the Company is correcting such errors in the financial statements of this Form 10-Q by adjusting prior period financial statemen ts. As a result, the Company has revised, within this Form 10-Q, its consolidated financial statements as of and for each of the quarterly and year-to-date periods as shown below. Additionally, Note 2 – Earnings Per Share, has been adjusted to reflect the correction of the immaterial errors. Revised Consolidated Statements of Operations and Comprehensive Income (Loss) 52 Weeks Ended January 29, 2022 52 Weeks Ended January 28, 2023 As Reported Adjustment As Corrected As Reported Adjustment As Corrected (millions, except per share figures) Cost of sales $ (14,956) $ (15) $ (14,971) $ (15,306) $ (41) $ (15,347) Operating income 2,350 (15) 2,335 1,730 (41) 1,689 Income before income taxes 1,866 (15) 1,851 1,518 (41) 1,477 Federal, state and local income tax expense (436) 4 (432) (341) 10 (331) Net income 1,430 (11) 1,419 1,177 (31) 1,146 Basic earnings per share 4.66 (0.04) 4.62 4.28 (0.11) 4.17 Diluted earnings per share 4.55 (0.03) 4.52 4.19 (0.11) 4.08 Comprehensive income 1,596 (11) 1,585 1,181 (31) 1,150 13 Weeks Ended April 29, 2023 As Reported Adjustment As Corrected (millions, except per share figures) Cost of sales $ (2,988) $ (4) $ (2,992) Operating income 244 (4) 240 Income before income taxes 211 (4) 207 Federal, state and local income tax expense (56) — (56) Net income 155 (4) 151 Basic earnings per share 0.57 (0.02) 0.55 Diluted earnings per share 0.56 (0.01) 0.55 Comprehensive income 156 (4) 152 13 Weeks Ended July 29, 2023 26 Weeks Ended July 29, 2023 As Reported Adjustment As Corrected As Reported Adjustment As Corrected (millions, except per share figures) Cost of sales $ (3,176) $ 4 $ (3,172) $ (6,164) $ (1) $ (6,165) Operating income 124 4 128 368 (1) 367 Income (loss) before income taxes (30) 4 (26) 181 (1) 180 Federal, state and local income tax (expense) benefit 8 (1) 7 (48) — (48) Net income (loss) (22) 3 (19) 133 (1) 132 Basic earnings (loss) per share (0.08) 0.01 (0.07) 0.49 (0.01) 0.48 Diluted earnings (loss) per share (0.08) 0.01 (0.07) 0.48 — 0.48 Comprehensive income 69 3 72 225 (1) 224 13 Weeks Ended October 28, 2023 39 Weeks Ended October 28, 2023 As Reported Adjustment As Corrected As Reported Adjustment As Corrected (millions, except per share figures) Cost of sales $ (2,902) $ (3) $ (2,905) $ (9,067) $ (3) $ (9,070) Operating income 86 (3) 83 453 (3) 450 Income before income taxes 46 (3) 43 226 (3) 223 Federal, state and local income tax expense (3) 1 (2) (51) 1 (50) Net income 43 (2) 41 175 (2) 173 Basic earnings per share 0.16 (0.01) 0.15 0.64 (0.01) 0.63 Diluted earnings per share 0.15 — 0.15 0.63 (0.01) 0.62 Comprehensive income 10 (2) 8 234 (2) 232 13 Weeks Ended February 3, 2024 53 Weeks Ended February 3, 2024 As Reported Adjustment As Corrected As Reported Adjustment As Corrected (in millions, except share figures) Cost of sales $ (5,076) $ (77) $ (5,153) $ (14,143) $ (81) $ (14,224) Operating income (loss) (72) (77) (149) 382 (81) 301 Income (loss) before income taxes (103) (77) (180) 124 (81) 43 Federal, state and local income tax (expense) benefit 32 20 52 (19) 21 2 Net income (loss) (71) (57) (128) 105 (60) 45 Basic earnings (loss) per share (0.26) (0.21) (0.47) 0.38 (0.22) 0.16 Diluted earnings (loss) per share (0.26) (0.20) (0.46) 0.38 (0.22) 0.16 Comprehensive income (loss) (7) (57) (64) 227 (60) 167 Revised Consolidated Balance Sheets October 28, 2023 As Reported Adjustment As Corrected (millions) Current Assets: Income taxes $ 73 $ 15 $ 88 Total Current Assets 7,070 15 7,085 Total Assets 18,111 15 18,126 Current Liabilities: Accounts payable and accrued liabilities 2,388 60 2,448 Total Current Liabilities 6,014 60 6,074 Shareholders’ Equity: Accumulated equity 6,261 (45) 6,216 Total Shareholders' Equity 4,144 (45) 4,099 Total Liabilities and Shareholders’ Equity 18,111 15 18,126 February 3, 2024 As Reported Adjustment As Corrected (millions) Current Liabilities: Accounts payable and accrued liabilities $ 2,434 $ 137 $ 2,571 Income taxes 83 (35) 48 Total Current Liabilities 4,430 102 4,532 Shareholders’ Equity: Accumulated equity 6,190 (102) 6,088 Total Shareholders' Equity 4,137 (102) 4,035 May 4, 2024 As Reported Adjustment As Corrected (millions) Current Liabilities: Accounts payable and accrued liabilities $ 2,088 $ 137 $ 2,225 Income taxes 115 (35) 80 Total Current Liabilities 4,550 102 4,652 Shareholders’ Equity: Accumulated equity 6,227 (102) 6,125 Total Shareholders' Equity 4,186 (102) 4,084 August 3, 2024 As Reported Adjustment As Corrected (millions) Current Assets: Income taxes $ 12 $ 35 $ 47 Total Current Assets 5,707 35 5,742 Total Assets 15,833 35 15,868 Current Liabilities: Accounts payable and accrued liabilities 1,990 137 2,127 Total Current Liabilities 3,867 137 4,004 Shareholders’ Equity: Accumulated equity 6,328 (102) 6,226 Total Shareholders' Equity 4,303 (102) 4,201 Total Liabilities and Shareholders’ Equity 15,833 35 15,868 Revised Consolidated Statement of Cash Flows 39 Weeks Ended October 28, 2023 As Reported Adjustment As Corrected (millions) Cash flows from operating activities: Net income $ 175 $ (2) $ 173 Changes in assets and liabilities: Decrease in accounts payable and accrued liabilities (305) 3 (302) Decrease in current income taxes (123) (1) (124) 52 Weeks Ended January 28, 2023 53 Weeks Ended February 3, 2024 As Reported Adjustment As Corrected As Reported Adjustment As Corrected (millions) Cash flows from operating activities: Net income $ 1,177 $ (31) $ 1,146 $ 105 $ (60) $ 45 Adjustments to reconcile net income to net cash provided by operating activities: Decrease in accounts payable and accrued liabilities (174) 41 (133) (347) 81 (266) Decrease in current income taxes (75) (10) (85) 24 (21) 3

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Narrative (Details)	Nov. 02, 2024 state
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which entity operates	43

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended							6 Months Ended	9 Months Ended		12 Months Ended
	Nov. 02, 2024	Aug. 03, 2024	May 04, 2024	Feb. 03, 2024	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Jul. 29, 2023	Nov. 02, 2024	Oct. 28, 2023	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Earnings Per Share [Abstract]
Net income	$ 28	$ 150	$ 62	$ (128)	$ 41	$ (19)	$ 151	$ 132	$ 240	$ 173	$ 45	$ 1,146	$ 1,419
Net income available to common stockholders, basic	$ 28				$ 41				$ 240	$ 173
Basic earnings per share (usd per share)	$ 0.10			$ (0.47)	$ 0.15	$ (0.07)	$ 0.55	$ 0.48	$ 0.86	$ 0.63	$ 0.16	$ 4.17	$ 4.62
Weighted average number of shares issued, basic (in shares)	277.4				273.7				276.5	272.9
Shares to be issued under deferred compensation and other plans (in shares)	1				1				0.9	1
Average number of shares outstanding, basic (in shares)	278.4				274.7				277.4	273.9
Effect of dilutive securities:
Net income available to common stockholders, diluted	$ 28				$ 41				$ 240	$ 173
Diluted earnings per share (usd per share)	$ 0.10			$ (0.46)	$ 0.15	$ (0.07)	$ 0.55	$ 0.48	$ 0.85	$ 0.62	$ 0.16	$ 4.08	$ 4.52
Stock options and restricted stock units (in shares)	3.1				2.9				3.9	3.8
Average number of shares outstanding, diluted (in shares)	281.5				277.6				281.3	277.7

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	9 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Employee Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings (in shares)	7.9	9.9
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings (in shares)	0.2	1.4

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023	Feb. 03, 2024
Disaggregation of Revenue [Line Items]
Percentage of net sales revenue	97%	96%	97%	97%
Macy's sales to total company sales percentage	84%	85%	84%	85%
Percentage of digital sales	30%	31%	30%	31%
Contract with customer, refund liability	$ 174	$ 190	$ 174	$ 190	$ 136
Contract with customer, right to recover product	103	114	103	114	83
Contract with customer, liability, current	$ 331	$ 336	$ 331	$ 336	$ 384
Credit Card Intermediary
Disaggregation of Revenue [Line Items]
Agreement renewal option number of years			3 years

Revenue - Sales From Merchandis

Revenue - Sales From Merchandise Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 4,742	$ 4,860	$ 14,525	$ 14,972
Other Revenue	161	178	474	519
Total revenue	4,903	5,038	14,999	15,491
Women's Accessories, Shoes, Cosmetics and Fragrances
Disaggregation of Revenue [Line Items]
Net sales	1,971	1,992	6,031	6,067
Women's Apparel
Disaggregation of Revenue [Line Items]
Net sales	1,077	1,088	3,342	3,348
Men's and Kids'
Disaggregation of Revenue [Line Items]
Net sales	1,034	1,049	3,071	3,177
Home/Other
Disaggregation of Revenue [Line Items]
Net sales	660	731	2,081	2,380
Credit card revenues, net
Disaggregation of Revenue [Line Items]
Other Revenue	120	142	362	424
Macy's Media Network revenue, net
Disaggregation of Revenue [Line Items]
Other Revenue	$ 41	$ 36	$ 112	$ 95

Financing Activities (Detail Of

Financing Activities (Detail Of Debt Repayments) (Details) - USD ($) $ in Millions	9 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Repayments of debt	$ 311	$ 151
Six Point Seven Nine Percent Senior Debentures Due Two Thousand Twenty Seven
Repayments of debt	$ 10	$ 0
Debt Instrument, Interest Rate, Stated Percentage	6.79%	6.79%
Six Point Seven Percent Senior Debentures Due Two Thousand Twenty Eight
Repayments of debt	$ 1	$ 0
Debt Instrument, Interest Rate, Stated Percentage	6.70%	6.70%
Five Point Eight Seven Five Percent Senior Notes Due Two Thousand Twenty Nine
Repayments of debt	$ 174	$ 0
Debt Instrument, Interest Rate, Stated Percentage	5.875%	5.875%
Six Point Nine Senior Secured Debentures Due Two Thousand Twenty Nine
Repayments of debt	$ 7	$ 0
Debt Instrument, Interest Rate, Stated Percentage	6.90%	6.90%
Six Point Seven Senior Secured Debentures Due Two Thousand Twenty Eight
Repayments of debt	$ 19	$ 0
Debt Instrument, Interest Rate, Stated Percentage	6.70%	6.70%
Seven Percent Senior Debentures Due Two Thousand Twenty Eight
Repayments of debt	$ 10	$ 0
Debt Instrument, Interest Rate, Stated Percentage	7%	7%
Revolving A B L Facility
Repayments of debt	$ 90	$ 151

Financing Activities - Revolvin

Financing Activities - Revolving Credit Facility (Details) - USD ($) $ in Millions	9 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Short-Term Debt [Line Items]
Debt issued	$ 176	$ 311
Repayments of debt	311	151
Revolving A B L Facility
Short-Term Debt [Line Items]
Repayments of debt	90	151
Line of Credit \| Revolving Credit Facility \| Revolving A B L Facility
Short-Term Debt [Line Items]
Debt issued	176	311
Repayments of debt	$ 90	$ 151

Financing Activities (Details)

Financing Activities (Details) - USD ($) shares in Millions	9 Months Ended
Financing Activities (Details) - USD ($) shares in Millions	Nov. 02, 2024	Oct. 28, 2023
Debt Instrument [Line Items]
Debt issued	$ 176,000,000	$ 311,000,000
Repayments of debt	311,000,000	$ 151,000,000
Tender offer, amount	221,000,000
Cash cost of tender offer	$ 225,000,000
Stock repurchased (in shares)	0	1.4
Shares repurchased, value		$ 25,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 1,400,000,000
Revolving A B L Facility
Debt Instrument [Line Items]
Repayments of debt	90,000,000	151,000,000
Revolving Credit Facility \| Revolving A B L Facility
Debt Instrument [Line Items]
Letters of credit outstanding	144,000,000	138,000,000
Line of credit facility, remaining borrowing capacity	2,856,000,000	2,862,000,000
Amount outstanding under credit facility	86,000,000	$ 160,000,000
Revolving Credit Facility \| New ABL Credit Facility \| Line of Credit
Debt Instrument [Line Items]
ABL Credit Facility, Maximum Borrowing Capacity	$ 3,000,000,000

Retirement Plans - Narrative (D

Retirement Plans - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
Retirement Plans - Narrative (Details) $ in Millions	Nov. 02, 2024 USD ($)	Oct. 28, 2023 USD ($)	Nov. 02, 2024 USD ($) hour	Oct. 28, 2023 USD ($)
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Number of hours required for participation in defined benefit and defined contribution plans \| hour			1,000
Settlement charges \| $	$ 0	$ 7	$ 0	$ 129

Retirement Plans - Net Periodic

Retirement Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Defined Benefit Plan Disclosure [Line Items]
Total Retirement Expense	$ 19	$ 17	$ 59	$ 55
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
401(k) Qualified Defined Contribution Plan			68	63
Interest cost	1	1	3	3
Recognition of net actuarial loss	(2)	(1)	(5)	(4)
Amortization of prior service credit	0	0	(1)	(1)
Total net periodic benefit cost	(1)	0	(3)	(2)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost	18	19	54	63
Expected return on assets	(28)	(29)	(86)	(97)
Recognition of net actuarial loss	0	1	2	4
Total net periodic benefit cost	(10)	(9)	(30)	(30)
Supplementary Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost	5	6	16	17
Recognition of net actuarial loss	2	1	5	5
Total net periodic benefit cost	7	7	$ 21	$ 22
Defined Contribution Qualified Plan \| Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
401(k) Qualified Defined Contribution Plan	$ 22	$ 19

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets Measured At Fair Value On A Recurring and Nonrecurring Basis (Details) - USD ($) $ in Millions	Nov. 02, 2024	Feb. 03, 2024	Oct. 28, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable equity and debt securities	$ 41	$ 42	$ 37
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable equity and debt securities	41	42	37
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable equity and debt securities	0	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable equity and debt securities	$ 0	$ 0	$ 0

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value Of Company Long Term Debt (Details) - USD ($) $ in Millions	Nov. 02, 2024	Feb. 03, 2024	Oct. 28, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Notional Amount	$ 2,785	$ 3,007	$ 3,007
Carrying Amount	2,779	2,998	2,997
Fair Value	$ 2,492	$ 2,706	$ 2,325

Supplier Finance Programs (Deta

Supplier Finance Programs (Details) - USD ($) $ in Millions	Nov. 02, 2024	Feb. 03, 2024	Oct. 28, 2023
Payables and Accruals [Abstract]
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Merchandise accounts payable	Merchandise accounts payable	Merchandise accounts payable
Supplier finance program, confirmed obligation	$ 162	$ 112	$ 164

Revision of Consolidated Fina_2

Revision of Consolidated Financial Statements for Correction of Immaterial Misstatement (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended							6 Months Ended	9 Months Ended		12 Months Ended			36 Months Ended
	Nov. 02, 2024	Aug. 03, 2024	May 04, 2024	Feb. 03, 2024	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Jul. 29, 2023	Nov. 02, 2024	Oct. 28, 2023	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Nov. 02, 2024
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales	$ (2,864)			$ (5,153)	$ (2,905)	$ (3,172)	$ (2,992)	$ (6,165)	$ (8,749)	$ (9,070)	$ (14,224)	$ (15,347)	$ (14,971)
Operating Income (Loss)	64			(149)	83	128	240	367	410	450	301	1,689	2,335
Income (loss) before income taxes	35			(180)	43	(26)	207	180	327	223	43	1,477	1,851
Federal, state and local income tax expense	(7)			52	(2)	7	(56)	(48)	(87)	(50)	2	(331)	(432)
Net income	$ 28	$ 150	$ 62	$ (128)	$ 41	$ (19)	$ 151	$ 132	$ 240	$ 173	$ 45	$ 1,146	$ 1,419
Basic earnings per share (usd per share)	$ 0.10			$ (0.47)	$ 0.15	$ (0.07)	$ 0.55	$ 0.48	$ 0.86	$ 0.63	$ 0.16	$ 4.17	$ 4.62
Diluted earnings per share (usd per share)	$ 0.10			$ (0.46)	$ 0.15	$ (0.07)	$ 0.55	$ 0.48	$ 0.85	$ 0.62	$ 0.16	$ 4.08	$ 4.52
Income taxes	$ 34	47		$ 0	$ 88				$ 34	$ 88	$ 0			$ 34
Total Current Assets	7,246	5,742		6,089	7,085				7,246	7,085	6,089			7,246
Total Assets	17,293	15,868		16,246	18,126				17,293	18,126	16,246			17,293
Accounts payable and accrued liabilities	2,337	2,127	2,225	2,571	2,448				2,337	2,448	2,571			2,337
Total Current Liabilities	5,773	4,004	4,652	4,532	6,074				5,773	6,074	4,532			5,773
Shareholders' Equity	4,147	4,201	4,084	4,035	4,099	$ 4,167	$ 4,124	$ 4,167	4,147	4,099	4,035	$ 4,040		4,147
Total Liabilities and Shareholders' Equity	17,293	15,868		16,246	18,126				17,293	18,126	16,246			17,293
Accumulated equity		6,226	6,125	6,088	6,216					6,216	6,088
Income taxes	0		80	48	0				0	0	48			0
Decrease in accounts payable and accrued liabilities									(206)	(302)	(266)	(133)
Decrease in current income taxes									(71)	(124)	3	(85)
Comprehensive Income (Loss)	28			(64)	8	72	152	224	$ 240	232	167	1,150	$ 1,585
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales				(77)	(3)	4	(4)	(1)		(3)	(81)	(41)	(15)
Operating Income (Loss)				(77)	(3)	4	(4)	(1)		(3)	(81)	(41)	(15)
Income (loss) before income taxes				(77)	(3)	4	(4)	(1)		(3)	(81)	(41)	(15)
Federal, state and local income tax expense				20	1	(1)	0	0		1	21	10	4
Net income				$ (57)	$ (2)	$ 3	$ (4)	$ (1)		$ (2)	$ (60)	$ (31)	$ (11)
Basic earnings per share (usd per share)				$ (0.21)	$ (0.01)	$ 0.01	$ (0.02)	$ (0.01)		$ (0.01)	$ (0.22)	$ (0.11)	$ (0.04)
Diluted earnings per share (usd per share)				$ (0.20)	$ 0	$ 0.01	$ (0.01)	$ 0		$ (0.01)	$ (0.22)	$ (0.11)	$ (0.03)
Income taxes		35			$ 15					$ 15
Total Current Assets		35			15					15
Total Assets		35			15					15
Accounts payable and accrued liabilities		137	137	$ 137	60					60	$ 137
Total Current Liabilities		137	102	102	60					60	102
Shareholders' Equity		(102)	(102)	(102)	(45)					(45)	(102)
Total Liabilities and Shareholders' Equity		35			15					15
Accumulated equity		(102)	(102)	(102)	(45)					(45)	(102)
Income taxes			(35)	(35)							(35)
Decrease in accounts payable and accrued liabilities										3	81	$ 41
Decrease in current income taxes										(1)	(21)	(10)
Comprehensive Income (Loss)				(57)	(2)	$ 3	$ (4)	$ (1)		(2)	(60)	(31)	$ (11)
Revision of Prior Period, Adjustment \| Cumulative 2021 through third quarter 2024
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales														$ 151
Revision of Prior Period, Adjustment \| First half of 2024
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales	$ 9
Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales				(5,076)	(2,902)	(3,176)	(2,988)	(6,164)		(9,067)	(14,143)	(15,306)	(14,956)
Operating Income (Loss)				(72)	86	124	244	368		453	382	1,730	2,350
Income (loss) before income taxes				(103)	46	(30)	211	181		226	124	1,518	1,866
Federal, state and local income tax expense				32	(3)	8	(56)	(48)		(51)	(19)	(341)	(436)
Net income				$ (71)	$ 43	$ (22)	$ 155	$ 133		$ 175	$ 105	$ 1,177	$ 1,430
Basic earnings per share (usd per share)				$ (0.26)	$ 0.16	$ (0.08)	$ 0.57	$ 0.49		$ 0.64	$ 0.38	$ 4.28	$ 4.66
Diluted earnings per share (usd per share)				$ (0.26)	$ 0.15	$ (0.08)	$ 0.56	$ 0.48		$ 0.63	$ 0.38	$ 4.19	$ 4.55
Income taxes		12			$ 73					$ 73
Total Current Assets		5,707			7,070					7,070
Total Assets		15,833			18,111					18,111
Accounts payable and accrued liabilities		1,990	2,088	$ 2,434	2,388					2,388	$ 2,434
Total Current Liabilities		3,867	4,550	4,430	6,014					6,014	4,430
Shareholders' Equity		4,303	4,186	4,137	4,144					4,144	4,137
Total Liabilities and Shareholders' Equity		15,833			18,111					18,111
Accumulated equity		$ 6,328	6,227	6,190	6,261					6,261	6,190
Income taxes			$ 115	83							83
Decrease in accounts payable and accrued liabilities										(305)	(347)	$ (174)
Decrease in current income taxes										(123)	24	(75)
Comprehensive Income (Loss)				$ (7)	$ 10	$ 69	$ 156	$ 225		$ 234	$ 227	$ 1,181	$ 1,596

Revision of Consolidated Fina_3

Revision of Consolidated Financial Statements for Correction of Immaterial Misstatement (Details) - USD ($) $ in Millions	3 Months Ended					6 Months Ended	9 Months Ended		12 Months Ended
	Nov. 02, 2024	Feb. 03, 2024	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Jul. 29, 2023	Nov. 02, 2024	Oct. 28, 2023	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of Goods and Services Sold	$ 2,864	$ 5,153	$ 2,905	$ 3,172	$ 2,992	$ 6,165	$ 8,749	$ 9,070	$ 14,224	$ 15,347	$ 14,971