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Inventories

9 Months Ended

Nov. 02, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories

The following table summarizes the Company’s inventory by classification:

(in millions)	November 2, 2019				February 2, 2019				November 3, 2018
Raw materials	$	65.5			$	76.3			$	79.9
Finished goods	2,453.9				2,310.6				2,567.2
Total inventories	$	2,519.4			$	2,386.9			$	2,647.1

During the 39 weeks ended November 2, 2019, as a part of the “Signet Path to Brilliance” restructuring plan, the Company recorded inventory charges of $5.8 million primarily associated with discontinued brands and collections within the restructuring charges - cost of sales line item on the condensed consolidated statements of operations. During the 39 weeks ended November 3, 2018, the Company recorded inventory charges of $63.2 million as part of the “Signet Path to Brilliance” plan. See Note 5 for additional information.

As of November 2, 2019, inventory reserves were $81.6 million (February 2, 2019 and November 3, 2018: $95.3 million and $89.0 million, respectively).

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- References

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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