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Revenue recognition (Tables)

6 Months Ended

Aug. 03, 2024

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 August 3, 2024 and July 29, 2023:

			13 weeks ended August 3, 2024																								13 weeks ended July 29, 2023
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by banner:
Kay			$	542.6					$	—					$	—					$	542.6					$	567.1					$	—					$	—					$	567.1
Zales			255.5						—						—						255.5						279.4						—						—						279.4
Jared			251.6						—						—						251.6						265.2						—						—						265.2
Digital banners (1)			131.3						—						—						131.3						164.2																		164.2
Diamonds Direct			89.3						—						—						89.3						93.1						—						—						93.1
Banter by Piercing Pagoda			77.6						—						—						77.6						79.3						—						—						79.3
Peoples			43.6						—						—						43.6						43.5						—						—						43.5
International segment banners			—						86.5						—						86.5						—						102.0						—						102.0
Other (2)			6.1						—						6.9						13.0						9.3						—						10.5						19.8
Total sales			$	1,397.6					$	86.5					$	6.9					$	1,491.0					$	1,501.1					$	102.0					$	10.5					$	1,613.6
			26 weeks ended August 3, 2024																								26 weeks ended July 29, 2023
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by banner:
Kay			$	1,110.1					$	—					$	—					$	1,110.1					$	1,169.3					$	—					$	—					$	1,169.3
Zales			512.2						—						—						512.2						574.8						—						—						574.8
Jared			501.1						—						—						501.1						539.2						—						—						539.2
Digital banners (1)			265.0																		265.0						332.4																		332.4
Diamonds Direct			171.9						—						—						171.9						181.3						—						—						181.3
Banter by Piercing Pagoda			161.2						—						—						161.2						164.8						—						—						164.8
Peoples			82.8						—						—						82.8						81.7						—						—						81.7
International segment banners			—						163.7						—						163.7						—						195.0						—						195.0
Other (2)			13.3						—						20.5						33.8						18.8						—						24.3						43.1
Total sales			$	2,817.6					$	163.7					$	20.5					$	3,001.8					$	3,062.3					$	195.0					$	24.3					$	3,281.6

(1) Includes sales from the Company’s digital banners, James Allen and Blue Nile.

(2) Other primarily includes sales from the Company’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 August 3, 2024 and July 29, 2023:

			13 weeks ended August 3, 2024																								13 weeks ended July 29, 2023
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by product:
Bridal			$	625.9					$	39.9					$	—					$	665.8					$	691.0					$	44.5					$	—					$	735.5
Fashion			522.5						17.7						—						540.2						552.3						17.4						—						569.7
Watches			48.7						23.0						—						71.7						48.4						33.5						—						81.9
Services (1)			173.8						5.9						—						179.7						170.6						6.6						—						177.2
Other (2)			26.7						—						6.9						33.6						38.8						—						10.5						49.3
Total sales			$	1,397.6					$	86.5					$	6.9					$	1,491.0					$	1,501.1					$	102.0					$	10.5					$	1,613.6
			26 weeks ended August 3, 2024																								26 weeks ended July 29, 2023
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by product:
Bridal			$	1,265.2					$	75.2					$	—					$	1,340.4					$	1,418.7					$	85.5					$	—					$	1,504.2
Fashion			1,059.3						32.9						—						1,092.2						1,123.7						33.0						—						1,156.7
Watches			91.4						43.8						—						135.2						93.2						63.6						—						156.8
Services (1)			352.4						11.8						—						364.2						346.4						12.9						—						359.3
Other (2)			49.3						—						20.5						69.8						80.3						—						24.3						104.6
Total sales			$	2,817.6					$	163.7					$	20.5					$	3,001.8					$	3,062.3					$	195.0					$	24.3					$	3,281.6

(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.

The following table provides the Company’s total sales, disaggregated by channel, for the 13 and 26 weeks ended August 3, 2024 and July 29, 2023:

			13 weeks ended August 3, 2024																								13 weeks ended July 29, 2023
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by channel:
Store			$	1,080.2					$	67.6					$	—					$	1,147.8					$	1,147.1					$	84.8					$	—					$	1,231.9
eCommerce			313.4						18.9						—						332.3						348.3						17.2						—						365.5
Other (1)			4.0						—						6.9						10.9						5.7						—						10.5						16.2
Total sales			$	1,397.6					$	86.5					$	6.9					$	1,491.0					$	1,501.1					$	102.0					$	10.5					$	1,613.6
			26 weeks ended August 3, 2024																								26 weeks ended July 29, 2023
(in millions)			North America						International						Other						Consolidated						North America						International						Other						Consolidated
Sales by channel:
Store			$	2,174.5					$	128.4					$	—					$	2,302.9					$	2,338.1					$	161.6					$	—					$	2,499.7
eCommerce			634.9						35.3						—						670.2						712.7						33.4						—						746.1
Other (1)			8.2						—						20.5						28.7						11.5						—						24.3						35.8
Total sales			$	2,817.6					$	163.7					$	20.5					$	3,001.8					$	3,062.3					$	195.0					$	24.3					$	3,281.6

(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 August 3, 2024, February 3, 2024 and July 29, 2023 were as follows:

(in millions)			August 3, 2024						February 3, 2024						July 29, 2023
Other current assets			$	27.5					$	28.2					$	28.0
Other assets			81.2						83.0						83.0
Total deferred ESP selling costs			$	108.7					$	111.2					$	111.0

Schedule of Deferred Revenue

Deferred revenue as of August 3, 2024, February 3, 2024 and July 29, 2023 was as follows:

(in millions)			August 3, 2024						February 3, 2024						July 29, 2023
ESP deferred revenue			$	1,146.1					$	1,158.7					$	1,138.9
Other deferred revenue (1)			75.7						86.0						88.4
Total deferred revenue			$	1,221.8					$	1,244.7					$	1,227.3
Disclosed as:
Current liabilities			$	347.8					$	362.9					$	358.3
Non-current liabilities			874.0						881.8						869.0
Total deferred revenue			$	1,221.8					$	1,244.7					$	1,227.3

(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)			August 3, 2024						July 29, 2023						August 3, 2024						July 29, 2023
ESP deferred revenue, beginning of period			$	1,153.7					$	1,149.4					$	1,158.7					$	1,159.5
Plans sold (1)			117.0						109.7						238.9						223.1
Revenue recognized (2)			(124.6)						(120.2)						(251.5)						(243.7)
ESP deferred revenue, end of period			$	1,146.1					$	1,138.9					$	1,146.1					$	1,138.9

(1) Includes impact of foreign exchange translation.

(2) The Company recognized sales of $75.0 million and $160.2 million during the 13 and 26 weeks ended August 3, 2024, respectively, and $75.8 million and $162.5 million during the 13 and 26 weeks ended July 29, 2023, 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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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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