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Revenue recognition (Tables)

6 Months Ended

Aug. 01, 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 and 26 weeks ended August 1, 2020 and August 3, 2019:

			13 weeks ended August 1, 2020																																										13 weeks ended August 3, 2019
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by banner:
Kay			$	325.0					$	—					$	—					$	325.0					$	532.5					$	—					$	—					$	532.5
Zales			185.1						—						—						185.1						279.7						—						—						279.7
Jared			168.5						—						—						168.5						254.6						—						—						254.6
Piercing Pagoda			59.3						—						—						59.3						74.2						—						—						74.2
James Allen			64.3						—						—						64.3						53.6						—						—						53.6
Peoples			20.8						—						—						20.8						46.4						—						—						46.4
International segment			—						61.0						—						61.0						—						113.9						—						113.9
Other(1)			—						—						4.0						4.0						—						—						9.5						9.5
Total sales			$	823.0					$	61.0					$	4.0					$	888.0					$	1,241.0					$	113.9					$	9.5					$	1,364.4
			26 weeks ended August 1, 2020																																										26 weeks ended August 3, 2019
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by banner:
Kay			$	658.5					$	—					$	—					$	658.5					$	1,111.8					$	—					$	—					$	1,111.8
Zales			367.4						—						—						367.4						568.5						—						—						568.5
Jared			313.9						—						—						313.9						509.6						—						—						509.6
Piercing Pagoda			110.7						—						—						110.7						156.8						—						—						156.8
James Allen			108.1						—						—						108.1						105.6						—						—						105.6
Peoples			45.5						—						—						45.5						89.0						—						—						89.0
International segment			—						125.9						—						125.9						—						225.4						—						225.4
Other(1)			—						—						10.1						10.1						—						—						29.4						29.4
Total sales			$	1,604.1					$	125.9					$	10.1					$	1,740.1					$	2,541.3					$	225.4					$	29.4					$	2,796.1

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

			13 weeks ended August 1, 2020																																										13 weeks ended August 3, 2019
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by product:
Bridal			$	417.1					$	28.8					$	—					$	445.9					$	560.3					$	47.3					$	—					$	607.6
Fashion			294.5						12.7						—						307.2						435.4						21.2						—						456.6
Watches			23.7						22.4						—						46.1						53.0						39.3						—						92.3
Other(1)			87.7						(2.9)						4.0						88.8						192.3						6.1						9.5						207.9
Total sales			$	823.0					$	61.0					$	4.0					$	888.0					$	1,241.0					$	113.9					$	9.5					$	1,364.4
			26 weeks ended August 1, 2020																																										26 weeks ended August 3, 2019
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by product:
Bridal			$	731.2					$	56.9					$	—					$	788.1					$	1,155.0					$	95.9					$	—					$	1,250.9
Fashion			592.4						25.3						—						617.7						902.8						43.6						—						946.4
Watches			48.3						39.9						—						88.2						101.2						73.3						—						174.5
Other(1)			232.2						3.8						10.1						246.1						382.3						12.6						29.4						424.3
Total sales			$	1,604.1					$	125.9					$	10.1					$	1,740.1					$	2,541.3					$	225.4					$	29.4					$	2,796.1

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

			13 weeks ended August 1, 2020																																										13 weeks ended August 3, 2019
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by channel:
Store			$	574.6					$	39.3					$	—					$	613.9					$	1,097.2					$	100.8					$	—					$	1,198.0
E-commerce			248.4						21.7						—						270.1						143.8						13.1						—						156.9
Other			—						—						4.0						4.0						—						—						9.5						9.5
Total sales			$	823.0					$	61.0					$	4.0					$	888.0					$	1,241.0					$	113.9					$	9.5					$	1,364.4
			26 weeks ended August 1, 2020																																										26 weeks ended August 3, 2019
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by channel:
Store			$	1,206.5					$	88.7					$	—					$	1,295.2					$	2,254.5					$	201.0					$	—					$	2,455.5
E-commerce			397.6						37.2						—						434.8						286.8						24.4						—						311.2
Other			—						—						10.1						10.1						—						—						29.4						29.4
Total sales			$	1,604.1					$	125.9					$	10.1					$	1,740.1					$	2,541.3					$	225.4					$	29.4					$	2,796.1

Other Assets

Unamortized deferred selling costs as of August 1, 2020, February 1, 2020 and August 3, 2019 were as follows:

(in millions)			August 1, 2020						February 1, 2020						August 3, 2019
Other current assets			$	30.2					$	23.6					$	20.6
Other assets			76.4						80.0						76.5
Total deferred selling costs			$	106.6					$	103.6					$	97.1

Deferred Revenue

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

(in millions)			August 1, 2020						February 1, 2020						August 3, 2019
ESP deferred revenue			$	990.5					$	960.0					$	930.2
Voucher promotions and other			39.7						37.7						35.0
Total deferred revenue			$	1,030.2					$	997.7					$	965.2
Disclosed as:
Current liabilities			$	330.9					$	266.2					$	265.4
Non-current liabilities			699.3						731.5						699.8
Total deferred revenue			$	1,030.2					$	997.7					$	965.2

			13 weeks ended																		26 weeks ended
(in millions)			August 1, 2020						August 3, 2019						August 1, 2020						August 3, 2019
ESP deferred revenue, beginning of period			$	961.0					$	931.3					$	960.0					$	927.6
Plans sold(1)			55.7						90.5						109.4						186.5
Revenue recognized(2)			(26.2)						(91.6)						(78.9)						(183.9)
ESP deferred revenue, end of period			$	990.5					$	930.2					$	990.5					$	930.2

⁽¹⁾ Includes impact of foreign exchange translation.

⁽²⁾ During the 13 and 26 weeks ended August 1, 2020, the Company recognized sales of $9.7 million and $54.2 million, respectively, 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 due to the temporary closure of the Company’s stores and service centers as a result of COVID-19. As the Company began reopening stores and service centers during the second quarter of Fiscal 2021, the Company partially resumed recognizing service revenue as it fulfilled its performance obligations under the ESP.

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ 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=121604090&loc=SL49130551-203045

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

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- Definition

Tabular disclosure of noncurrent assets.

+ References

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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