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Restructuring Plans | 6 Months Ended
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Aug. 04, 2018
Restructuring and Related Activities [Abstract] |
Restructuring Plans | Restructuring Plans Signet Path to Brilliance Plan During the first quarter of Fiscal 2019, Signet launched a three-year comprehensive transformation plan, the “Signet Path to Brilliance” plan (the “Plan”), to reposition the Company to be a share gaining, OmniChannel jewelry category leader. The Plan is expected to result in pre-tax charges in the range of $170 million - $190 million over the duration of the plan of which $80 million - $95 million are expected to be cash charges. In Fiscal 2019, the Company's preliminary estimates for pre-tax charges related to cost reduction activities and inventory charges ranges from $125 million - $135 million, of which $40 million - $45 million are expected to be cash charges. Signet also expects a net reduction in net selling square footage of 4.0% - 5.0% related to a net reduction in stores in Fiscal 2019. Restructuring charges of $82.8 million and $89.3 million were recognized in the 13 and 26 weeks ended August 4, 2018, respectively, primarily related to inventory charges associated with discontinued brands and collections, professional fees for legal and consulting services, severance and impairment of information technology assets related to the Plan. No Plan liabilities were recorded as of August 4, 2018. Restructuring charges and other Plan related costs are classified in the condensed consolidated income statements as follows:
|  |  | 13 weeks ended |  | 26 weeks ended
(in millions) | Income statement location |  | August 4, 2018 |  | July 29, 2017 |  | August 4, 2018 |  | July 29, 2017
Inventory charges(1) | Restructuring charges - cost of sales |  | $ | 63.2 |  |  | $ | — |  |  | $ | 63.2 |  |  | $ | — |
Other Plan related expenses | Restructuring charges |  | 19.6 |  |  | — |  |  | 26.1 |  |  | — |
Total Signet Path to Brilliance Plan expenses |  |  | $ | 82.8 |  |  | $ | — |  |  | $ | 89.3 |  |  | $ | — |
(1) | See Note 14 for additional information related to inventory and inventory reserves.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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