Revenue recognition (Tables)

3 Months Ended

May 01, 2021

Revenue from Contract with Customer [Abstract]

The following tables provide the Company’s revenue, disaggregated by banner, major product and channel, for the 13 weeks ended May 1, 2021 and May 2, 2020:


	13 weeks ended May 1, 2021								13 weeks ended May 2, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by banner:
Kay	$	676.8	$	—	$	—	$	676.8	$	333.5	$	—	$	—	$	333.5
Zales	370.8		—		—		370.8		182.3		—		—		182.3
Jared	284.1		—		—		284.1		145.4		—		—		145.4
Piercing Pagoda	148.8		—		—		148.8		51.4		—		—		51.4
James Allen	101.5		—		—		101.5		43.8		—		—		43.8
Peoples	34.6		—		—		34.6		24.7		—		—		24.7
International segment banners	—		57.4		—		57.4		—		64.9		—		64.9
Other	1.4		—		13.4		14.8		—		—		6.1		6.1
Total sales	$	1,618.0	$	57.4	$	13.4	$	1,688.8	$	781.1	$	64.9	$	6.1	$	852.1


	13 weeks ended May 1, 2021								13 weeks ended May 2, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by product:
Bridal	$	726.7	$	28.8	$	—	$	755.5	$	314.1	$	28.1	$	—	$	342.2
Fashion	661.4		9.7		—		671.1		297.9		12.6		—		310.5
Watches	46.9		17.2		—		64.1		24.6		17.5		—		42.1
Other (1)	183.0		1.7		13.4		198.1		144.5		6.7		6.1		157.3
Total sales	$	1,618.0	$	57.4	$	13.4	$	1,688.8	$	781.1	$	64.9	$	6.1	$	852.1

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


	13 weeks ended May 1, 2021								13 weeks ended May 2, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by channel:
Store	$	1,299.6	$	29.5	$	—	$	1,329.1	$	631.9	$	49.4	$	—	$	681.3
E-commerce	318.4		27.9		—		346.3		149.2		15.5		—		164.7
Other	—		—		13.4		13.4		—		—		6.1		6.1
Total sales	$	1,618.0	$	57.4	$	13.4	$	1,688.8	$	781.1	$	64.9	$	6.1	$	852.1

Other Assets

Unamortized deferred selling costs as of May 1, 2021, January 30, 2021 and May 2, 2020 were as follows:


(in millions)	May 1, 2021		January 30, 2021		May 2, 2020
Other current assets	$	26.4	$	26.2	$	23.6
Other assets	86.1		85.1		79.5
Total deferred selling costs	$	112.5	$	111.3	$	103.1

Deferred Revenue

Deferred revenue consists primarily of ESP and voucher promotions as follows:


(in millions)	May 1, 2021		January 30, 2021		May 2, 2020
ESP deferred revenue	$	1,049.4	$	1,028.9	$	961.0
Other deferred revenue (1)	58.3		43.1		30.0
Total deferred revenue	$	1,107.7	$	1,072.0	$	991.0

Disclosed as:
Current liabilities	$	310.0	$	288.7	$	271.2
Non-current liabilities	797.7		783.3		719.8
Total deferred revenue	$	1,107.7	$	1,072.0	$	991.0

(1) Other deferred revenue includes primarily revenue collected from customers for custom orders and eCommerce orders, for which control has not yet transferred to the customer.


	13 weeks ended
(in millions)	May 1, 2021		May 2, 2020
ESP deferred revenue, beginning of period	$	1,028.9	$	960.0
Plans sold (1)	124.1		55.0
Revenue recognized (2)	(103.6)		(54.0)
ESP deferred revenue, end of period	$	1,049.4	$	961.0

(1) Includes impact of foreign exchange translation.

(2) During the 13 weeks ended May 1, 2021 and May 2, 2020, the Company recognized sales of $72.6 million and $44.5 million, respectively, related to deferred revenue that existed at the beginning of the period in respect to ESP. In Fiscal 2021, 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 resumed recognizing service revenue as it fulfilled its performance obligations under the ESP.