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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jun. 25, 2022
Jul. 01, 2023
Jun. 25, 2022
Income Statement [Abstract]        
Sales $ 1,908 $ 2,034 $ 4,016 $ 4,212
Cost of goods and occupancy costs 1,493 1,603 3,119 3,296
Gross profit 415 431 897 916 Close
Selling, general and administrative expenses 362 377 745 773
Asset impairments 6 3 10 5
Merger, restructuring and other operating expenses, net 1 23 1 34 Close
Operating income 46 28 141 104 Close
Other income (expense):         Close
Interest income 2 1 4 2 Close
Interest expense (5) (4) (10) (9) Close
Total Other Income Expenses 1.0 0.0 0.0 -2.0 0.0 Close
Other income, net 4 3 6 5 CloseCloseClose
Income from continuing operations before income taxes 47 28 141 102 Close
Income tax expense 13 8 34 27 Close
Net income from continuing operations 34 20 107 75
Discontinued operations, net of tax   7   7 Close
Net income $ 34 $ 27 $ 107 $ 82 Close
Basic earnings per share        
Continuing operations $ 0.89 $ 0.4 $ 2.7 $ 1.54
Discontinued operations   0.15   0.14
Net basic earnings per share 0.89 0.55 2.7 1.68
Diluted earnings per share        
Continuing operations 0.87 0.39 2.61 1.49
Discontinued operations   0.15   0.14
Net diluted earnings per share $ 0.87 $ 0.54 $ 2.61 $ 1.63