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Revenue recognition (Tables)

12 Months Ended

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.

X

- Definition

Tabular disclosure of cost capitalized in obtaining or fulfilling contract with customer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 340
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479483/340-40-50-3

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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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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