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Shareholders' equity
 9 Months Ended
Nov. 02, 2024
Equity [Abstract]  
Shareholders' equity Shareholders’ equity
Dividends on Common Shares
Dividends declared on common shares during the 39 weeks ended November 2, 2024 and October 28, 2023 were as follows:
Fiscal 2025Fiscal 2024
(in millions, except per share amounts)Dividends
per share		Total dividendsDividends
per share		Total dividends
First quarter$0.29 $12.9 $0.23 $10.4 
Second quarter
0.29 12.9 0.23 10.3 
Third quarter (1)
0.29 12.6 0.23 10.2 
Total
$0.87 $38.4 $0.69 $30.9 
(1)    Signet’s dividend policy results in the dividend payment date being a quarter in arrears from the declaration date. As of November 2, 2024 and October 28, 2023, there was $12.6 million and $10.2 million recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets reflecting the cash dividends declared for the third quarter of Fiscal 2025 and Fiscal 2024, respectively.
Dividends on Preferred Shares
Dividends declared on the Preferred Shares during the 39 weeks ended November 2, 2024 and October 28, 2023 were as follows:
Fiscal 2025Fiscal 2024
(in millions, except per share amounts)Dividends
per share
Total dividends (2)
Dividends
per share		Total dividends
First quarter$13.14 $6.2 $13.14 $8.2 
Second quarter
13.14 2.8 13.14 8.2 
Third quarter (1)
13.14 1.3 13.14 8.2 
Total
$39.42 $10.3 $39.42 $24.6 
(1)    Signet’s dividend policy results in the dividend payment date being a quarter in arrears from the declaration date. As of October 28, 2023, there was $8.2 million recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets reflecting the cash dividends on the Preferred Shares declared for the third quarter of Fiscal 2024. There were no dividends declared or accrued for the Preferred Shares as of November 2, 2024.
(2)    Dividends on the Preferred Shares during the first and third quarter of Fiscal 2025 includes $2.1 million and $1.3 million, respectively, of accrued dividends paid in connection with the redemptions further described in Note 5.
There were no cumulative undeclared dividends on the Preferred Shares that reduced net (loss) income attributable to common shareholders during the 13 and 39 weeks ended November 2, 2024 or October 28, 2023. See Note 5 for additional discussion of the Company’s Preferred Shares.
Share repurchases
Signet may from time to time repurchase common shares under various share repurchase programs authorized by Signet’s Board. Repurchases may be made in the open market, through block trades, through accelerated share repurchase agreements or otherwise. The timing, manner, price and amount of any repurchases will be determined by the Company at its discretion and will be subject to economic and market conditions, stock prices, applicable legal requirements and other factors. The repurchase programs are funded through Signet’s existing cash reserves and liquidity sources. Repurchased shares are held as treasury shares and used by Signet primarily for issuance of share-based compensation awards, or for general corporate purposes.
The Board authorized repurchases to be made under the 2017 Share Repurchase Program (the “2017 Program”). Through the end of Fiscal 2024, the total authorization under the 2017 Program had been increased to approximately $1.9 billion, with $661.0 million remaining as of February 3, 2024. In March 2024, the Board approved a further $200.0 million increase to the multi-year authorization under the 2017 Program. Since inception of the 2017 Program, the Company has repurchased approximately $1.4 billion of shares, with $747.3 million of shares authorized for repurchase remaining as of November 2, 2024.
The share repurchase activity during the 39 weeks ended November 2, 2024 and October 28, 2023 was as follows:
39 weeks ended November 2, 2024
39 weeks ended October 28, 2023
(in millions, except per share amounts)Shares repurchased
Amount repurchased (1)
Average repurchase price per share (1)
Shares repurchased
Amount repurchased (1)
Average repurchase price per share (1)
2017 Program1.3$113.8 $90.50 1.7$117.5 $70.76 
(1)    Includes amounts paid for commissions.