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v3.24.1

Revenue recognition (Tables) | 12 Months Ended
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Feb. 03, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following tables provide the Company’s total sales, disaggregated by banner, for Fiscal 2024, Fiscal 2023 and Fiscal 2022:
|  | Fiscal 2024
(in millions) |  | North America |  | International |  | Other |  | Consolidated
Sales by banner: |  |  |  |  |  |  |  |
Kay |  | $ | 2,600.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,600.0 |
Zales |  | 1,266.9 |  |  | — |  |  | — |  |  | 1,266.9 |
Jared |  | 1,189.6 |  |  | — |  |  | — |  |  | 1,189.6 |
Digital banners (1) |  | 662.8 |  |  | — |  |  | — |  |  | 662.8 |
Diamonds Direct |  | 408.1 |  |  | — |  |  | — |  |  | 408.1 |
Banter by Piercing Pagoda |  | 347.1 |  |  | — |  |  | — |  |  | 347.1 |
Peoples |  | 196.0 |  |  | — |  |  | — |  |  | 196.0 |
International segment banners |  | — |  |  | 430.7 |  |  | — |  |  | 430.7 |
Other (4) |  | 33.3 |  |  | — |  |  | 36.6 |  |  | 69.9 |
Total sales |  | $ | 6,703.8 |  |  | $ | 430.7 |  |  | $ | 36.6 |  |  | $ | 7,171.1 |
|  | Fiscal 2023
(in millions) |  | North America |  | International |  | Other |  | Consolidated
Sales by banner: |  |  |  |  |  |  |  |
Kay |  | $ | 2,804.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,804.2 |
Zales |  | 1,445.0 |  |  | — |  |  | — |  |  | 1,445.0 |
Jared |  | 1,313.5 |  |  | — |  |  | — |  |  | 1,313.5 |
Digital banners (1)(2) |  | 571.8 |  |  | — |  |  | — |  |  | 571.8 |
Diamonds Direct |  | 467.1 |  |  | — |  |  | — |  |  | 467.1 |
Banter by Piercing Pagoda |  | 417.9 |  |  | — |  |  | — |  |  | 417.9 |
Peoples |  | 209.1 |  |  | — |  |  | — |  |  | 209.1 |
International segment banners |  | — |  |  | 470.1 |  |  | — |  |  | 470.1 |
Other (4) |  | 60.9 |  |  | — |  |  | 82.5 |  |  | 143.4 |
Total sales |  | $ | 7,289.5 |  |  | $ | 470.1 |  |  | $ | 82.5 |  |  | $ | 7,842.1 |
|  | Fiscal 2022
(in millions) |  | North America |  | International |  | Other |  | Consolidated
Sales by banner: |  |  |  |  |  |  |  |
Kay |  | $ | 2,985.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,985.8 |
Zales |  | 1,624.8 |  |  | — |  |  | — |  |  | 1,624.8 |
Jared |  | 1,326.3 |  |  | — |  |  | — |  |  | 1,326.3 |
Digital banners (1) |  | 422.8 |  |  | — |  |  | — |  |  | 422.8 |
Diamonds Direct (3) |  | 132.5 |  |  | — |  |  | — |  |  | 132.5 |
Banter by Piercing Pagoda |  | 553.4 |  |  | — |  |  | — |  |  | 553.4 |
Peoples |  | 206.2 |  |  | — |  |  | — |  |  | 206.2 |
International segment banners |  | — |  |  | 492.4 |  |  | — |  |  | 492.4 |
Other (4) |  | 13.0 |  |  | — |  |  | 68.8 |  |  | 81.8 |
Total sales |  | $ | 7,264.8 |  |  | $ | 492.4 |  |  | $ | 68.8 |  |  | $ | 7,826.0 |
(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) Includes Diamonds Direct sales since the date of acquisition on November 17, 2021. See Note 4 for further details. (4) Other primarily includes sales from the Company’s diamond sourcing operation, loose diamonds and Rocksbox. The following tables provide the Company’s total sales, disaggregated by major product, for Fiscal 2024, Fiscal 2023 and Fiscal 2022:
| Fiscal 2024
(in millions) | North America |  | International |  | Other |  | Consolidated
Sales by product: |  |  |  |  |  |  |
Bridal | $ | 2,946.9 |  |  | $ | 186.2 |  |  | $ | — |  |  | $ | 3,133.1 |
Fashion | 2,672.4 |  |  | 84.5 |  |  | — |  |  | 2,756.9 |
Watches | 212.0 |  |  | 133.7 |  |  | — |  |  | 345.7 |
Services (1) | 715.2 |  |  | 26.3 |  |  | — |  |  | 741.5 |
Other (2) | 157.3 |  |  | — |  |  | 36.6 |  |  | 193.9 |
Total sales | $ | 6,703.8 |  |  | $ | 430.7 |  |  | $ | 36.6 |  |  | $ | 7,171.1 |
| Fiscal 2023
(in millions) | North America (3) |  | International |  | Other |  | Consolidated
Sales by product: |  |  |  |  |  |  |
Bridal | $ | 3,281.2 |  |  | $ | 204.8 |  |  | $ | — |  |  | $ | 3,486.0 |
Fashion | 2,957.6 |  |  | 86.2 |  |  | — |  |  | 3,043.8 |
Watches | 232.6 |  |  | 152.9 |  |  | — |  |  | 385.5 |
Services (1) | 680.4 |  |  | 26.2 |  |  | — |  |  | 706.6 |
Other (2) | 137.7 |  |  | — |  |  | 82.5 |  |  | 220.2 |
Total sales | $ | 7,289.5 |  |  | $ | 470.1 |  |  | $ | 82.5 |  |  | $ | 7,842.1 |
| Fiscal 2022
(in millions) | North America (3) |  | International |  | Other |  | Consolidated
Sales by product: |  |  |  |  |  |  |
Bridal | $ | 3,139.7 |  |  | $ | 222.8 |  |  | $ | — |  |  | $ | 3,362.5 |
Fashion | 3,123.0 |  |  | 92.7 |  |  | — |  |  | 3,215.7 |
Watches | 241.6 |  |  | 157.8 |  |  | — |  |  | 399.4 |
Services (1) | 626.2 |  |  | 19.1 |  |  | — |  |  | 645.3 |
Other (2) | 134.3 |  |  | — |  |  | 68.8 |  |  | 203.1 |
Total sales | $ | 7,264.8 |  |  | $ | 492.4 |  |  | $ | 68.8 |  |  | $ | 7,826.0 |
(1) Services primarily includes sales from service plans, repairs and subscriptions. (2) Other primarily includes sales from the Company’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 tables provide the Company’s total sales, disaggregated by channel, for Fiscal 2024, Fiscal 2023 and Fiscal 2022:
| Fiscal 2024
(in millions) | North America |  | International |  | Other |  | Consolidated
Sales by channel: |  |  |  |  |  |  |
Store | $ | 5,125.1 |  |  | $ | 349.3 |  |  | $ | — |  |  | $ | 5,474.4 |
eCommerce | 1,559.0 |  |  | 81.4 |  |  | — |  |  | 1,640.4 |
Other (1) | 19.7 |  |  | — |  |  | 36.6 |  |  | 56.3 |
Total sales | $ | 6,703.8 |  |  | $ | 430.7 |  |  | $ | 36.6 |  |  | $ | 7,171.1 |
| Fiscal 2023
(in millions) | North America |  | International |  | Other |  | Consolidated
Sales by channel: |  |  |  |  |  |  |
Store | $ | 5,728.5 |  |  | $ | 386.0 |  |  | $ | — |  |  | $ | 6,114.5 |
eCommerce | 1,515.3 |  |  | 84.1 |  |  | — |  |  | 1,599.4 |
Other (1) | 45.7 |  |  | — |  |  | 82.5 |  |  | 128.2 |
Total sales | $ | 7,289.5 |  |  | $ | 470.1 |  |  | $ | 82.5 |  |  | $ | 7,842.1 |
| Fiscal 2022
(in millions) | North America |  | International |  | Other |  | Consolidated
Sales by channel: |  |  |  |  |  |  |
Store | $ | 5,867.9 |  |  | $ | 377.7 |  |  | $ | — |  |  | $ | 6,245.6 |
eCommerce | 1,396.9 |  |  | 114.7 |  |  | — |  |  | 1,511.6 |
Other (1) | — |  |  | — |  |  | 68.8 |  |  | 68.8 |
Total sales | $ | 7,264.8 |  |  | $ | 492.4 |  |  | $ | 68.8 |  |  | $ | 7,826.0 |
(1) Other primarily includes sales from the Company’s diamond sourcing operation and loose diamonds.
Unamortized deferred selling costs | Unamortized deferred ESP selling costs as of February 3, 2024 and January 28, 2023 were as follows:
(in millions) | February 3, 2024 |  | January 28, 2023
Other current assets | $ | 28.2 |  |  | $ | 29.2 |
Other assets | 83.0 |  |  | 85.4 |
Total deferred ESP selling costs | $ | 111.2 |  |  | $ | 114.6 |
Schedule of Deferred Revenue | Deferred revenue as of February 3, 2024 and January 28, 2023 was follows:
(in millions) | February 3, 2024 |  | January 28, 2023
ESP deferred revenue | $ | 1,158.7 |  |  | $ | 1,159.5 |
Other deferred revenue (1) | 86.0 |  |  | 90.1 |
Total deferred revenue | $ | 1,244.7 |  |  | $ | 1,249.6 |
Disclosed as: |  |  |
Current liabilities | $ | 362.9 |  |  | $ | 369.5 |
Non-current liabilities | 881.8 |  |  | 880.1 |
Total deferred revenue | $ | 1,244.7 |  |  | $ | 1,249.6 |
(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.
(in millions) | Fiscal 2024 |  | Fiscal 2023 |  | Fiscal 2022
ESP deferred revenue, beginning of period | $ | 1,159.5 |  |  | $ | 1,116.5 |  |  | $ | 1,028.9 |
Plans sold (1) | 504.8 |  |  | 522.9 |  |  | 528.9 |
Revenue recognized (2) | (505.6) |  |  | (479.9) |  |  | (441.3) |
ESP deferred revenue, end of period | $ | 1,158.7 |  |  | $ | 1,159.5 |  |  | $ | 1,116.5 |
(1) Includes impact of foreign exchange translation. (2) During Fiscal 2024, Fiscal 2023 and Fiscal 2022 the Company recognized sales of $291.5 million, $269.3 million and $244.1 million, respectively, related to deferred revenue that existed at the beginning of the period in respect to ESP.

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