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Goodwill and intangibles (Tables) | 12 Months Ended
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Feb. 01, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill by Reportable Segment | The following table summarizes the Company’s goodwill by reportable segment:
(in millions) | North America |  |  |  |  |  |
Balance at January 28, 2023 (1) | $ | 751.7 |  |  |  |  |  |  |
Acquisitions (2) | 2.8 |  |  |  |  |  |  |
Balance at February 3, 2024 (1) | $ | 754.5 |  |  |  |  |  |  |
Impairments | (272.5) |  |  |  |  |  |  |
Balance at February 1, 2025 (1) | $ | 482.0 |  |  |  |  |  |  |
(1) The carrying amount of goodwill is presented net of accumulated impairment losses of $848.5 million as of February 1, 2025 and $576.0 million as of February 3, 2024 and January 28, 2023. (2) The change in goodwill during the period primarily consists of the acquisition of SJR and the finalization of the purchase price allocation of Blue Nile. Refer to Note 4 for additional information.
Schedule of Finite-Lived Intangible Assets | The following table provides additional detail regarding the composition of intangible assets and liabilities as of February 1, 2025 and February 3, 2024:
|  | February 1, 2025 |  | February 3, 2024
(in millions) |  | Gross carrying amount |  | Accumulated amortization |  |  |  | Net carrying amount |  | Gross carrying amount |  | Accumulated amortization |  |  |  | Net carrying amount
Intangible assets, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Definite-lived intangible assets |  | $ | 11.2 |  |  | $ | (8.4) |  |  |  |  | $ | 2.8 |  |  | $ | 11.2 |  |  | $ | (7.5) |  |  |  |  | $ | 3.7 |
Indefinite-lived intangible assets (1) |  | 304.4 |  |  | — |  |  |  |  | 304.4 |  |  | 399.1 |  |  | — |  |  |  |  | 399.1 |
Total intangible assets, net |  | $ | 315.6 |  |  | $ | (8.4) |  |  |  |  | $ | 307.2 |  |  | $ | 410.3 |  |  | $ | (7.5) |  |  |  |  | $ | 402.8 |
Intangible liabilities, net |  | $ | (38.0) |  |  | $ | 36.2 |  |  |  |  | $ | (1.8) |  |  | $ | (38.0) |  |  | $ | 34.4 |  |  |  |  | $ | (3.6) |
(1) The change in the indefinite-lived intangible asset balances during the periods presented was primarily due to the trade name impairment charges as described above.
Schedule of Indefinite-Lived Intangible Assets | The following table provides additional detail regarding the composition of intangible assets and liabilities as of February 1, 2025 and February 3, 2024:
|  | February 1, 2025 |  | February 3, 2024
(in millions) |  | Gross carrying amount |  | Accumulated amortization |  |  |  | Net carrying amount |  | Gross carrying amount |  | Accumulated amortization |  |  |  | Net carrying amount
Intangible assets, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Definite-lived intangible assets |  | $ | 11.2 |  |  | $ | (8.4) |  |  |  |  | $ | 2.8 |  |  | $ | 11.2 |  |  | $ | (7.5) |  |  |  |  | $ | 3.7 |
Indefinite-lived intangible assets (1) |  | 304.4 |  |  | — |  |  |  |  | 304.4 |  |  | 399.1 |  |  | — |  |  |  |  | 399.1 |
Total intangible assets, net |  | $ | 315.6 |  |  | $ | (8.4) |  |  |  |  | $ | 307.2 |  |  | $ | 410.3 |  |  | $ | (7.5) |  |  |  |  | $ | 402.8 |
Intangible liabilities, net |  | $ | (38.0) |  |  | $ | 36.2 |  |  |  |  | $ | (1.8) |  |  | $ | (38.0) |  |  | $ | 34.4 |  |  |  |  | $ | (3.6) |
(1) The change in the indefinite-lived intangible asset balances during the periods presented was primarily due to the trade name impairment charges as described above.
Schedule of Expected Future Amortization Expense for Intangible Assets | Expected future amortization for intangible assets and intangible liabilities recorded at February 1, 2025 is as follows:
(in millions) | Intangible assets amortization |  | Intangible liabilities amortization
Fiscal 2026 | $ | 0.5 |  |  | $ | (1.8) |
Fiscal 2027 | 0.5 |  |  | — |
Fiscal 2028 | 0.5 |  |  | — |
Fiscal 2029 | 0.4 |  |  | — |
Fiscal 2030 | 0.4 |  |  | — |
Thereafter | 0.5 |  |  | — |
Total | $ | 2.8 |  |  | $ | (1.8) |
Schedule of Expected Future Amortization of Intangible Liabilities | Expected future amortization for intangible assets and intangible liabilities recorded at February 1, 2025 is as follows:
(in millions) | Intangible assets amortization |  | Intangible liabilities amortization
Fiscal 2026 | $ | 0.5 |  |  | $ | (1.8) |
Fiscal 2027 | 0.5 |  |  | — |
Fiscal 2028 | 0.5 |  |  | — |
Fiscal 2029 | 0.4 |  |  | — |
Fiscal 2030 | 0.4 |  |  | — |
Thereafter | 0.5 |  |  | — |
Total | $ | 2.8 |  |  | $ | (1.8) |

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