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Revenue recognition (Tables)

3 Months Ended

May 02, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables provide the Company’s revenue, disaggregated by banner, major product and channel, for the 13 weeks ended May 2, 2020 and May 4, 2019:

	13 weeks ended May 2, 2020																13 weeks ended May 4, 2019
(in millions)	North America				International				Other				Consolidated				North America				International				Other				Consolidated
Sales by banner:
Kay	$	333.5			$	—			$	—			$	333.5			$	579.3			$	—			$	—			$	579.3
Zales	182.3				—				—				182.3				288.8				—				—				288.8
Jared	145.4				—				—				145.4				255.0				—				—				255.0
Piercing Pagoda	51.4				—				—				51.4				82.6				—				—				82.6
James Allen	43.8				—				—				43.8				52.0				—				—				52.0
Peoples	24.7				—				—				24.7				42.6				—				—				42.6
International segment	—				64.9				—				64.9				—				111.5				—				111.5
Other(1)	—				—				6.1				6.1				—				—				19.9				19.9
Total sales	$	781.1			$	64.9			$	6.1			$	852.1			$	1,300.3			$	111.5			$	19.9			$	1,431.7

⁽¹⁾   Includes sales from Signet’s diamond sourcing initiative.

	13 weeks ended May 2, 2020																13 weeks ended May 4, 2019
(in millions)	North America				International				Other				Consolidated				North America				International				Other				Consolidated
Sales by product:
Bridal	$	314.1			$	28.1			$	—			$	342.2			$	594.7			$	48.6			$	—			$	643.3
Fashion	297.9				12.6				—				310.5				467.4				22.4				—				489.8
Watches	24.6				17.5				—				42.1				48.2				34.0				—				82.2
Other(1)	144.5				6.7				6.1				157.3				190.0				6.5				19.9				216.4
Total sales	$	781.1			$	64.9			$	6.1			$	852.1			$	1,300.3			$	111.5			$	19.9			$	1,431.7

⁽¹⁾   Other revenue primarily includes gift, beads and other miscellaneous jewelry sales, repairs, service plan and other miscellaneous non-jewelry sales.

	13 weeks ended May 2, 2020																13 weeks ended May 4, 2019
(in millions)	North America				International				Other				Consolidated				North America				International				Other				Consolidated
Sales by channel:
Store	$	631.9			$	49.4			$	—			$	681.3			$	1,157.3			$	100.2			$	—			$	1,257.5
E-commerce	149.2				15.5				—				164.7				143.0				11.3				—				154.3
Other	—				—				6.1				6.1				—				—				19.9				19.9
Total sales	$	781.1			$	64.9			$	6.1			$	852.1			$	1,300.3			$	111.5			$	19.9			$	1,431.7

Other Assets

Unamortized deferred selling costs as of May 2, 2020, February 1, 2020 and May 4, 2019 were as follows:

(in millions)	May 2, 2020				February 1, 2020				May 4, 2019
Deferred ESP selling costs
Other current assets	$	23.6			$	23.6			$	23.8
Other assets	79.5				80.0				76.4
Total deferred ESP selling costs	$	103.1			$	103.6			$	100.2

Deferred Revenue

Deferred revenue is comprised primarily of ESP and voucher promotions as follows:

(in millions)	May 2, 2020				February 1, 2020				May 4, 2019
ESP deferred revenue	$	961.0			$	960.0			$	931.3
Voucher promotions and other	30.0				37.7				45.3
Total deferred revenue	$	991.0			$	997.7			$	976.6
Disclosed as:
Current liabilities	$	271.2			$	266.2			$	277.0
Non-current liabilities	719.8				731.5				699.6
Total deferred revenue	$	991.0			$	997.7			$	976.6

	13 weeks ended
(in millions)	May 2, 2020				May 4, 2019
ESP deferred revenue, beginning of period	$	960.0			$	927.6
Plans sold(1)	55.0				96.0
Revenue recognized(2)	(54.0		)		(92.3		)
ESP deferred revenue, end of period	$	961.0			$	931.3

⁽¹⁾  Includes impact of foreign exchange translation.

⁽²⁾ 

During the first quarter of Fiscal 2021, the Company recognized sales of $44.5 related to deferred revenue that existed at February 1, 2020 in respect to ESP. Additionally, no ESP revenue was recognized beginning on March 23, 2020 and through the end of the quarter due to the temporary closure of the Company’s stores and service centers as a result of COVID-19.

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- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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