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v3.23.2

Revenue recognition (Tables) | 6 Months Ended
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Jul. 29, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table provides the Company’s total sales, disaggregated by banner, for the 13 and 26 weeks ended July 29, 2023 and July 30, 2022:
| 13 weeks ended July 29, 2023 |  | 13 weeks ended July 30, 2022
(in millions) | North America |  | International |  | Other |  | Consolidated |  | North America |  | International |  | Other |  | Consolidated
Sales by banner: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Kay | $ | 567.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 567.1 |  |  | $ | 617.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 617.5 |
Zales | 279.4 |  |  | — |  |  | — |  |  | 279.4 |  |  | 318.1 |  |  | — |  |  | — |  |  | 318.1 |
Jared | 265.2 |  |  | — |  |  | — |  |  | 265.2 |  |  | 303.5 |  |  | — |  |  | — |  |  | 303.5 |
Digital banners (1) (2) | 164.2 |  |  | — |  |  | — |  |  | 164.2 |  |  | 88.6 |  |  |  |  |  |  | 88.6 |
Diamonds Direct | 93.1 |  |  | — |  |  | — |  |  | 93.1 |  |  | 113.0 |  |  | — |  |  | — |  |  | 113.0 |
Banter by Piercing Pagoda | 79.3 |  |  | — |  |  | — |  |  | 79.3 |  |  | 100.2 |  |  | — |  |  | — |  |  | 100.2 |
Peoples | 43.5 |  |  | — |  |  | — |  |  | 43.5 |  |  | 47.8 |  |  | — |  |  | — |  |  | 47.8 |
International segment banners | — |  |  | 102.0 |  |  | — |  |  | 102.0 |  |  | — |  |  | 111.6 |  |  | — |  |  | 111.6 |
Other (3) | 9.3 |  |  | — |  |  | 10.5 |  |  | 19.8 |  |  | 27.7 |  |  | — |  |  | 26.9 |  |  | 54.6 |
Total sales | $ | 1,501.1 |  |  | $ | 102.0 |  |  | $ | 10.5 |  |  | $ | 1,613.6 |  |  | $ | 1,616.4 |  |  | $ | 111.6 |  |  | $ | 26.9 |  |  | $ | 1,754.9 |
| 26 weeks ended July 29, 2023 |  | 26 weeks ended July 30, 2022
(in millions) | North America |  | International |  | Other |  | Consolidated |  | North America |  | International |  | Other |  | Consolidated
Sales by banner: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Kay | $ | 1,169.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,169.3 |  |  | $ | 1,284.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,284.8 |
Zales | 574.8 |  |  | — |  |  | — |  |  | 574.8 |  |  | 665.8 |  |  | — |  |  | — |  |  | 665.8 |
Jared | 539.2 |  |  | — |  |  | — |  |  | 539.2 |  |  | 617.6 |  |  | — |  |  | — |  |  | 617.6 |
Digital banners (1) (2) | 332.4 |  |  |  |  |  |  | 332.4 |  |  | 181.9 |  |  |  |  |  |  | 181.9 |
Diamonds Direct | 181.3 |  |  | — |  |  | — |  |  | 181.3 |  |  | 219.3 |  |  | — |  |  | — |  |  | 219.3 |
Banter by Piercing Pagoda | 164.8 |  |  | — |  |  | — |  |  | 164.8 |  |  | 219.2 |  |  | — |  |  | — |  |  | 219.2 |
Peoples | 81.7 |  |  | — |  |  | — |  |  | 81.7 |  |  | 93.2 |  |  | — |  |  | — |  |  | 93.2 |
International segment banners | — |  |  | 195.0 |  |  | — |  |  | 195.0 |  |  | — |  |  | 221.6 |  |  | — |  |  | 221.6 |
Other (3) | 18.8 |  |  | — |  |  | 24.3 |  |  | 43.1 |  |  | 39.6 |  |  | — |  |  | 50.2 |  |  | 89.8 |
Total sales | $ | 3,062.3 |  |  | $ | 195.0 |  |  | $ | 24.3 |  |  | $ | 3,281.6 |  |  | $ | 3,321.4 |  |  | $ | 221.6 |  |  | $ | 50.2 |  |  | $ | 3,593.2 |
(1) Includes sales from the Company’s digital banners, James Allen and Blue Nile. (2) Includes Blue Nile sales since the date of acquisition on August 19, 2022. See Note 4 for further details. (3) Other primarily includes sales from Signet’s diamond sourcing operation, loose diamonds and Rocksbox. The following table provides the Company’s total sales, disaggregated by major product, for the 13 and 26 weeks ended July 29, 2023 and July 30, 2022:
| 13 weeks ended July 29, 2023 |  | 13 weeks ended July 30, 2022
(in millions) | North America |  | International |  | Other |  | Consolidated |  | North America (3) |  | International |  | Other |  | Consolidated
Sales by product: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bridal | $ | 691.0 |  |  | $ | 44.5 |  |  | $ | — |  |  | $ | 735.5 |  |  | $ | 742.4 |  |  | $ | 49.2 |  |  | $ | — |  |  | $ | 791.6 |
Fashion | 552.3 |  |  | 17.4 |  |  | — |  |  | 569.7 |  |  | 607.0 |  |  | 17.9 |  |  | — |  |  | 624.9 |
Watches | 48.4 |  |  | 33.5 |  |  | — |  |  | 81.9 |  |  | 53.4 |  |  | 37.9 |  |  | — |  |  | 91.3 |
Services (1) | 170.6 |  |  | 6.6 |  |  | — |  |  | 177.2 |  |  | 163.5 |  |  | 6.6 |  |  | — |  |  | 170.1 |
Other (2) | 38.8 |  |  | — |  |  | 10.5 |  |  | 49.3 |  |  | 50.1 |  |  | — |  |  | 26.9 |  |  | 77.0 |
Total sales | $ | 1,501.1 |  |  | $ | 102.0 |  |  | $ | 10.5 |  |  | $ | 1,613.6 |  |  | $ | 1,616.4 |  |  | $ | 111.6 |  |  | $ | 26.9 |  |  | $ | 1,754.9 |
| 26 weeks ended July 29, 2023 |  | 26 weeks ended July 30, 2022
(in millions) | North America |  | International |  | Other |  | Consolidated |  | North America (3) |  | International |  | Other |  | Consolidated
Sales by product: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bridal | $ | 1,418.7 |  |  | $ | 85.5 |  |  | $ | — |  |  | $ | 1,504.2 |  |  | $ | 1,543.1 |  |  | $ | 99.3 |  |  | $ | — |  |  | $ | 1,642.4 |
Fashion | 1,123.7 |  |  | 33.0 |  |  | — |  |  | 1,156.7 |  |  | 1,263.5 |  |  | 35.6 |  |  | — |  |  | 1,299.1 |
Watches | 93.2 |  |  | 63.6 |  |  | — |  |  | 156.8 |  |  | 104.9 |  |  | 73.1 |  |  | — |  |  | 178.0 |
Services (1) | 346.4 |  |  | 12.9 |  |  | — |  |  | 359.3 |  |  | 329.5 |  |  | 13.6 |  |  | — |  |  | 343.1 |
Other (2) | 80.3 |  |  | — |  |  | 24.3 |  |  | 104.6 |  |  | 80.4 |  |  | — |  |  | 50.2 |  |  | 130.6 |
Total sales | $ | 3,062.3 |  |  | $ | 195.0 |  |  | $ | 24.3 |  |  | $ | 3,281.6 |  |  | $ | 3,321.4 |  |  | $ | 221.6 |  |  | $ | 50.2 |  |  | $ | 3,593.2 |
(1) Services primarily includes sales from service plans, repairs and subscriptions. (2) Other primarily includes sales from Signet’s diamond sourcing operation and other miscellaneous non-jewelry sales. (3) Certain amounts have been reclassified between the bridal, fashion, and other categories to conform to the Company’s current product categorizations. The following table provides the Company’s total sales, disaggregated by channel, for the 13 and 26 weeks ended July 29, 2023 and July 30, 2022:
| 13 weeks ended July 29, 2023 |  | 13 weeks ended July 30, 2022
(in millions) | North America |  | International |  | Other |  | Consolidated |  | North America |  | International |  | Other |  | Consolidated
Sales by channel: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Store | $ | 1,147.1 |  |  | $ | 84.8 |  |  | $ | — |  |  | $ | 1,231.9 |  |  | $ | 1,314.6 |  |  | $ | 91.9 |  |  | $ | — |  |  | $ | 1,406.5 |
E-commerce | 348.3 |  |  | 17.2 |  |  | — |  |  | 365.5 |  |  | 278.1 |  |  | 19.7 |  |  | — |  |  | 297.8 |
Other (1) | 5.7 |  |  | — |  |  | 10.5 |  |  | 16.2 |  |  | 23.7 |  |  | — |  |  | 26.9 |  |  | 50.6 |
Total sales | $ | 1,501.1 |  |  | $ | 102.0 |  |  | $ | 10.5 |  |  | $ | 1,613.6 |  |  | $ | 1,616.4 |  |  | $ | 111.6 |  |  | $ | 26.9 |  |  | $ | 1,754.9 |
| 26 weeks ended July 29, 2023 |  | 26 weeks ended July 30, 2022
(in millions) | North America |  | International |  | Other |  | Consolidated |  | North America |  | International |  | Other |  | Consolidated
Sales by channel: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Store | $ | 2,338.1 |  |  | $ | 161.6 |  |  | $ | — |  |  | $ | 2,499.7 |  |  | $ | 2,711.1 |  |  | $ | 181.8 |  |  | $ | — |  |  | $ | 2,892.9 |
E-commerce | 712.7 |  |  | 33.4 |  |  | — |  |  | 746.1 |  |  | 578.5 |  |  | 39.8 |  |  | — |  |  | 618.3 |
Other (1) | 11.5 |  |  | — |  |  | 24.3 |  |  | 35.8 |  |  | 31.8 |  |  | — |  |  | 50.2 |  |  | 82.0 |
Total sales | $ | 3,062.3 |  |  | $ | 195.0 |  |  | $ | 24.3 |  |  | $ | 3,281.6 |  |  | $ | 3,321.4 |  |  | $ | 221.6 |  |  | $ | 50.2 |  |  | $ | 3,593.2 |
(1) Other primarily includes sales from Signet’s diamond sourcing operation and loose diamonds.
Schedule of Deferred ESP Selling Costs | Unamortized deferred ESP selling costs as of July 29, 2023, January 28, 2023 and July 30, 2022 were as follows:
(in millions) | July 29, 2023 |  | January 28, 2023 |  | July 30, 2022
Other current assets | $ | 28.0 |  |  | $ | 29.2 |  |  | $ | 27.4 |
Other assets | 83.0 |  |  | 85.4 |  |  | 86.8 |
Total deferred ESP selling costs | $ | 111.0 |  |  | $ | 114.6 |  |  | $ | 114.2 |
Schedule of Deferred Revenue | Deferred revenue as of July 29, 2023, January 28, 2023 and July 30, 2022 was as follows:
(in millions) | July 29, 2023 |  | January 28, 2023 |  | July 30, 2022
ESP deferred revenue | $ | 1,138.9 |  |  | $ | 1,159.5 |  |  | $ | 1,131.5 |
Other deferred revenue (1) | 88.4 |  |  | 90.1 |  |  | 69.3 |
Total deferred revenue | $ | 1,227.3 |  |  | $ | 1,249.6 |  |  | $ | 1,200.8 |
Disclosed as: |  |  |  |  |
Current liabilities | $ | 358.3 |  |  | $ | 369.5 |  |  | $ | 326.9 |
Non-current liabilities | 869.0 |  |  | 880.1 |  |  | 873.9 |
Total deferred revenue | $ | 1,227.3 |  |  | $ | 1,249.6 |  |  | $ | 1,200.8 |
(1) Other deferred revenue primarily includes revenue collected from customers for custom orders and eCommerce orders, for which control has not yet transferred to the customer.
| 13 weeks ended |  | 26 weeks ended
(in millions) | July 29, 2023 |  | July 30, 2022 |  | July 29, 2023 |  | July 30, 2022
ESP deferred revenue, beginning of period | $ | 1,149.4 |  |  | $ | 1,125.9 |  |  | $ | 1,159.5 |  |  | $ | 1,116.5 |
Plans sold (1) | 109.7 |  |  | 120.3 |  |  | 223.1 |  |  | 244.1 |
Revenue recognized (2) | (120.2) |  |  | (114.7) |  |  | (243.7) |  |  | (229.1) |
ESP deferred revenue, end of period | $ | 1,138.9 |  |  | $ | 1,131.5 |  |  | $ | 1,138.9 |  |  | $ | 1,131.5 |
(1) Includes impact of foreign exchange translation. (2) The Company recognized sale s o f $75.8 million and $162.5 million during the 13 and 26 weeks ended July 29, 2023, respectively, and $68.6 million and $147.8 million during the 13 and 26 weeks ended July 30, 2022, respectively, related to deferred revenue that existed at the beginning of the period in respect to ESP.

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