f the budgeted amount for capital expenditures (capex) is known and material, firms are required to provide it in their MD&A.  Most firms do provide this information.  Increases in capex (for example, compared to prior years' actual capex, from the cash flow statement) is usually considered a "bullish" signal. 

 

Source

10-K for year ended 1/28/22, Item 7:  

 

Summary

• Planned capex is $2.0 billion.
• 10% for new stores, new corporate, and international; 20% strategic initiatives; 70% existing store improvements
• For 2022, our capital expenditures forecast is approximately $2.0 billion. The following table provides the allocation of our fiscal 2022 capital expenditures forecast:
• 

Transcribed Image Text:

Existing store investments Strategic initiatives New stores, new corporate facilities and international 2022 70 % 20 % 10 % Existing store investments Strategic initiatives New stores, new corporate facilities and international 2022 70 % 20 % 10 %

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