First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||
(millions, except per share data) | |||||||||||||||
2013: | |||||||||||||||
Net sales | $ | 6,387 | $ | 6,066 | $ | 6,276 | $ | 9,202 | |||||||
Cost of sales | (3,911 | ) | (3,533 | ) | (3,817 | ) | (5,464 | ) | |||||||
Gross margin | 2,476 | 2,533 | 2,459 | 3,738 | |||||||||||
Selling, general and administrative expenses | (2,041 | ) | (1,999 | ) | (2,099 | ) | (2,301 | ) | |||||||
Impairments, store closing and other costs and gain on sale of leases | — | — | — | (88 | ) | ||||||||||
Net income | 217 | 281 | 177 | 811 | |||||||||||
Basic earnings per share | .56 | .73 | .47 | 2.21 | |||||||||||
Diluted earnings per share | .55 | .72 | .47 | 2.16 | |||||||||||
2012: | |||||||||||||||
Net sales | $ | 6,143 | $ | 6,118 | $ | 6,075 | $ | 9,350 | |||||||
Cost of sales | (3,757 | ) | (3,555 | ) | (3,672 | ) | (5,554 | ) | |||||||
Gross margin | 2,386 | 2,563 | 2,403 | 3,796 | |||||||||||
Selling, general and administrative expenses | (1,995 | ) | (2,009 | ) | (2,078 | ) | (2,400 | ) | |||||||
Impairments, store closing and other costs and gain on sale of leases | — | — | — | (5 | ) | ||||||||||
Net income | 181 | 279 | 145 | 730 | |||||||||||
Basic earnings per share | .43 | .68 | .36 | 1.86 | |||||||||||
Diluted earnings per share | .43 | .67 | .36 | 1.83 |