Properties and Leases (Tables)
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12 Months Ended |
Jan. 31, 2026 |
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| Property Plant and Equipment and Leases of Lessee [Abstract] |
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| Schedule of Major Classes of Property, Plant and Equipment, Net |
The major classes of property and equipment, net as of January 31, 2026 and February 1, 2025 are as follows:
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January 31,
2026 |
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February 1,
2025 |
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| Land |
$ |
1,134 |
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$ |
1,168 |
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| Buildings on owned land |
3,148 |
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3,134 |
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| Buildings on leased land and leasehold improvements |
1,331 |
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1,334 |
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| Fixtures and equipment |
3,385 |
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3,611 |
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8,998 |
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9,247 |
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| Less accumulated depreciation and amortization |
4,255 |
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4,177 |
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$ |
4,743 |
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$ |
5,070 |
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| Schedule of ROU Assets and Lease Liabilities |
ROU assets and lease liabilities consist of:
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Classification |
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January 31,
2026 |
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February 1,
2025 |
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(millions) |
| Assets |
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| Finance lease assets (a) |
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Right of Use Assets |
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$ |
9 |
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$ |
10 |
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| Operating lease assets (b) |
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Right of Use Assets |
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2,127 |
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2,233 |
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| Total lease assets |
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$ |
2,136 |
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$ |
2,243 |
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| Liabilities |
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| Current |
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| Finance (a) |
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Accounts payable and accrued liabilities |
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$ |
2 |
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$ |
2 |
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| Operating (b) |
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Accounts payable and accrued liabilities |
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361 |
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365 |
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| Noncurrent |
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| Finance (a) |
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Long-Term Lease Liabilities |
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11 |
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13 |
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| Operating (b) |
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Long-Term Lease Liabilities |
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2,761 |
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2,914 |
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| Total lease liabilities |
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$ |
3,135 |
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$ |
3,294 |
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| (a) |
Finance lease assets are recorded net of accumulated amortization of $12 million and $11 million as of January 31, 2026 and February 1, 2025, respectively. As of both January 31, 2026 and February 1, 2025, finance lease assets included $1 million and noncurrent lease liabilities included $1 million of non-lease components. |
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| (b) |
As of January 31, 2026, operating lease assets included $315 million of non-lease components and current and noncurrent lease liabilities included $36 million and $355 million, respectively, of non-lease components. As of February 1, 2025, operating lease assets included $317 million of non-lease components and current and noncurrent lease liabilities included $36 million and $356 million, respectively, of non-lease components. |
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| Schedule of Components of Net Lease Expense |
The components of net lease expense, recognized primarily within selling, general and administrative expenses are disclosed below. For 2025, 2024 and 2023, lease expense included $87 million, $89 million and $84 million, respectively, related to non-lease components.
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2025 |
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2024 |
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2023 |
| (millions) |
| Real estate |
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| Operating leases (c) – |
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| Minimum rents |
$ |
361 |
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$ |
375 |
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$ |
372 |
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| Variable rents |
64 |
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63 |
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55 |
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425 |
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438 |
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427 |
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| Less income from subleases – |
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| Operating leases (d) |
(54) |
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(50) |
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(46) |
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$ |
371 |
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$ |
388 |
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$ |
381 |
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| Personal property – Operating leases |
$ |
5 |
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$ |
5 |
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$ |
6 |
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| (c) |
Certain supply chain operating lease expense amounts are included in cost of sales. |
| (d) |
Represents sublease income from certain corporate office locations. |
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| Schedule of Maturity of Lease Liabilities |
As of January 31, 2026, the maturity of lease liabilities is as follows:
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Finance
Leases |
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Operating
Leases
(e and f) |
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Total |
| (millions) |
| Fiscal year |
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| 2026 |
$ |
3 |
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$ |
393 |
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$ |
396 |
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| 2027 |
3 |
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374 |
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377 |
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| 2028 |
2 |
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357 |
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359 |
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| 2029 |
2 |
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326 |
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328 |
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| 2030 |
1 |
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322 |
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323 |
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| After 2030 |
8 |
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4,223 |
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4,231 |
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| Total undiscounted lease payments |
19 |
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5,995 |
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6,014 |
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| Less amount representing interest |
6 |
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2,873 |
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2,879 |
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| Total lease liabilities |
$ |
13 |
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$ |
3,122 |
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$ |
3,135 |
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| (e) |
Operating lease payments include $2,396 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $14 million of legally binding minimum lease payments for leases signed but not yet commenced. |
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| (f) |
Operating lease payments include $968 million related to non-lease component payments, with $668 million of such payments related to options to extend lease terms that are reasonably certain of being exercised. |
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| Schedule of Maturity of Lease Liabilities |
As of January 31, 2026, the maturity of lease liabilities is as follows:
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Finance
Leases |
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Operating
Leases
(e and f) |
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Total |
| (millions) |
| Fiscal year |
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| 2026 |
$ |
3 |
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$ |
393 |
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$ |
396 |
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| 2027 |
3 |
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374 |
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377 |
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| 2028 |
2 |
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357 |
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359 |
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| 2029 |
2 |
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326 |
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328 |
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| 2030 |
1 |
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322 |
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323 |
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| After 2030 |
8 |
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4,223 |
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4,231 |
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| Total undiscounted lease payments |
19 |
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5,995 |
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6,014 |
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| Less amount representing interest |
6 |
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2,873 |
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2,879 |
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| Total lease liabilities |
$ |
13 |
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$ |
3,122 |
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$ |
3,135 |
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| (e) |
Operating lease payments include $2,396 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $14 million of legally binding minimum lease payments for leases signed but not yet commenced. |
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| (f) |
Operating lease payments include $968 million related to non-lease component payments, with $668 million of such payments related to options to extend lease terms that are reasonably certain of being exercised. |
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| Schedule of Supplemental Information Regarding Assumptions and Cash Flows |
Additional supplemental information regarding assumptions and cash flows for operating and finance leases is as follows:
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| Lease Term and Discount Rate |
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January 31,
2026 |
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February 1,
2025 |
| Weighted-average remaining lease term (years) |
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| Finance leases |
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10.2 |
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10.8 |
| Operating leases |
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19.3 |
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19.6 |
| Weighted-average discount rate |
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| Finance leases |
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7.12 |
% |
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7.15 |
% |
| Operating leases |
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6.83 |
% |
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6.80 |
% |
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| Other Information |
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52 Weeks Ended January 31, 2026 |
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52 Weeks Ended
February 1, 2025 |
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(millions) |
| Cash paid for amounts included in the measurement of lease liabilities: |
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| Operating cash flows used from operating leases |
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$ |
399 |
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$ |
362 |
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| Financing cash flows used from financing leases |
|
3 |
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3 |
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| Leased assets obtained in exchange for new operating lease liabilities |
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48 |
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117 |
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