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Segment information | 6 Months Ended
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Aug. 02, 2025
Segment Reporting [Abstract] |
Segment information | Segment information Signet’s chief executive officer (“CEO”) is the Company’s chief operating decision maker (“CODM”). The CODM regularly reviews segment sales and segment operating income, after the elimination of any inter-segment transactions, to determine resource allocations between segments. Signet’s sales are primarily derived from the retailing of jewelry, watches, services and other products as generated through the management of its segments. Segment operating income, which excludes the impact of certain items management believes are not necessarily reflective of normal operating performance, is utilized by the CODM to assess segment profitability. Segment operating income is used by the CODM to monitor and assess segment results compared to prior periods, forecasted results, and Signet’s annual operating plan. The Company aggregates operating segments with similar economic and operating characteristics. Signet manages its business as three reportable segments: North America, International, and Other. The Company allocates certain support center costs between operating segments, and the remainder of the unallocated costs are included with the corporate and unallocated expenses presented. The North America reportable segment operates across the US and Canada. Its US stores operate nationally in malls and off-mall locations, as well as online, principally as Kay (Kay Jewelers and Kay Outlet), Zales (Zales Jewelers and Zales Outlet), Jared (Jared Jewelers and Jared Vault), Diamonds Direct, Banter by Piercing Pagoda, Rocksbox, and Digital brands, James Allen and Blue Nile. Its Canadian stores operate as Peoples Jewellers. The International reportable segment operates stores in the UK and Republic of Ireland as well as online. Its stores operate in shopping malls and off-mall locations (i.e. high street) principally under the H.Samuel and Ernest Jones brands. The Other reportable segment primarily consists of subsidiaries involved in the purchasing and conversion of rough diamonds to polished stones. Financial information for each of Signet’s reportable segments for the 13 and 26 weeks ended August 2, 2025 and August 3, 2024 is presented in the tables below.
| 13 weeks ended August 2, 2025
(in millions) | North America |  | International |  | Other |  | Corporate and Unallocated |  | Consolidated
Sales | $ | 1,426.7 |  |  | $ | 91.8 |  |  | $ | 16.6 |  |  | $ | — |  |  | $ | 1,535.1 |
Merchandise expense | (547.6) |  |  | (39.8) |  |  | (15.7) |  |  |  |  |
Services expense | (42.9) |  |  | (2.4) |  |  |  |  |  |  |
Other cost of sales | (270.4) |  |  | (23.2) |  |  | (1.2) |  |  |  |  |
SG&A | (461.5) |  |  | (29.0) |  |  |  |  | (14.8) |  |  |
Other segment operating (expense) income, net | (0.5) |  |  | 0.5 |  |  | (0.1) |  |  | (1.1) |  |  |
Total segment operating income (loss) | $ | 103.8 |  |  | $ | (2.1) |  |  | $ | (0.4) |  |  | $ | (15.9) |  |  | $ | 85.4 |
Asset impairments (1) |  |  |  |  |  |  |  |  | (79.8) |
Restructuring and related charges (2) |  |  |  |  |  |  |  |  | (2.8) |
Interest expense, net |  |  |  |  |  |  |  |  | (0.1) |
Other non-operating income, net |  |  |  |  |  |  |  |  | 2.4 |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 5.1 |
| 26 weeks ended August 2, 2025
(in millions) | North America |  | International |  | Other |  | Corporate and Unallocated |  | Consolidated
Sales | $ | 2,877.2 |  |  | $ | 171.9 |  |  | $ | 27.6 |  |  | $ | — |  |  | $ | 3,076.7 |
Merchandise expense | (1,105.0) |  |  | (74.2) |  |  | (29.5) |  |  |  |  |
Services expense | (86.3) |  |  | (4.7) |  |  |  |  |  |  |
Other cost of sales | (537.7) |  |  | (46.5) |  |  | (2.1) |  |  |  |  |
SG&A | (945.7) |  |  | (55.3) |  |  |  |  | (30.3) |  |  |
Other segment operating expense, net | (1.6) |  |  | (0.3) |  |  | (0.3) |  |  | (1.5) |  |  |
Total segment operating income (loss) | $ | 200.9 |  |  | $ | (9.1) |  |  | $ | (4.3) |  |  | $ | (31.8) |  |  | $ | 155.7 |
Asset impairments (1) |  |  |  |  |  |  |  |  | (83.0) |
Restructuring and related charges (2) |  |  |  |  |  |  |  |  | (21.8) |
Interest income, net |  |  |  |  |  |  |  |  | 0.7 |
Other non-operating expense, net |  |  |  |  |  |  |  |  | (0.9) |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 50.7 |
| 13 weeks ended August 3, 2024
(in millions) | North America |  | International |  | Other |  | Corporate and Unallocated |  | Consolidated
Sales | $ | 1,397.6 |  |  | $ | 86.5 |  |  | $ | 6.9 |  |  | $ | — |  |  | $ | 1,491.0 |
Merchandise expense | (545.0) |  |  | (37.3) |  |  | (8.4) |  |  |  |  |
Services expense | (40.7) |  |  | (2.4) |  |  |  |  |  |  |
Other cost of sales | (266.4) |  |  | (23.4) |  |  | (1.1) |  |  |  |  |
SG&A | (455.1) |  |  | (25.5) |  |  |  |  | (16.9) |  |  |
Other segment operating (expense) income, net | (0.3) |  |  | 0.1 |  |  | — |  |  | — |  |  |
Total segment operating income (loss) | $ | 90.1 |  |  | $ | (2.0) |  |  | $ | (2.6) |  |  | $ | (16.9) |  |  | $ | 68.6 |
Asset impairments (1) |  |  |  |  |  |  |  |  | (166.2) |
Restructuring and related charges (2) |  |  |  |  |  |  |  |  | (1.2) |
Loss on divestitures, net (3) |  |  |  |  |  |  |  |  | (1.2) |
Integration-related expenses (4) |  |  |  |  |  |  |  |  | (0.9) |
Interest income, net |  |  |  |  |  |  |  |  | 2.4 |
Other non-operating income, net |  |  |  |  |  |  |  |  | 1.6 |
Loss before income taxes |  |  |  |  |  |  |  |  | $ | (96.9) |
| 26 weeks ended August 3, 2024
(in millions) | North America |  | International |  | Other |  | Corporate and Unallocated |  | Consolidated
Sales | $ | 2,817.6 |  |  | $ | 163.7 |  |  | $ | 20.5 |  |  | $ | — |  |  | $ | 3,001.8 |
Merchandise expense | (1,098.6) |  |  | (68.0) |  |  | (24.2) |  |  |  |  |
Services expense | (83.0) |  |  | (5.0) |  |  |  |  |  |  |
Other cost of sales | (534.2) |  |  | (48.1) |  |  | (2.0) |  |  |  |  |
SG&A | (926.7) |  |  | (52.0) |  |  |  |  | (34.0) |  |  |
Other segment operating income (expense), net | 0.2 |  |  | 0.4 |  |  | — |  |  | (0.2) |  |  |
Total segment operating income (loss) | $ | 175.3 |  |  | $ | (9.0) |  |  | $ | (5.7) |  |  | $ | (34.2) |  |  | $ | 126.4 |
Asset impairments (1) |  |  |  |  |  |  |  |  | (168.1) |
Restructuring and related charges (2) |  |  |  |  |  |  |  |  | (5.8) |
Loss on divestitures, net (3) |  |  |  |  |  |  |  |  | (2.5) |
Integration-related expenses (4) |  |  |  |  |  |  |  |  | (1.1) |
Interest income, net |  |  |  |  |  |  |  |  | 11.0 |
Other non-operating income, net |  |  |  |  |  |  |  |  | 1.8 |
Loss before income taxes |  |  |  |  |  |  |  |  | $ | (38.3) |
(1) Asset impairment charges during the 13 and 26 weeks ended August 2, 2025 and August 3, 2024 primarily related to goodwill and indefinite-lived intangibles assets. See Note 12 for additional information. (2) Restructuring and related charges during the 13 and 26 weeks ended August 2, 2025 were incurred primarily as a result of the Company’s Grow Brand Love strategy initiatives. Restructuring and related charges during the 13 and 26 weeks ended August 3, 2024 were incurred primarily as a result of the Company’s rationalization of its store footprint and reorganization of certain centralized functions. See Note 18 for additional information. (3) Includes charges associated with the previously announced divestiture of the UK prestige watch business. (4) Includes severance and retention expenses related to the integration of Blue Nile. The following tables provide the Company’s total depreciation and amortization and total capital expenditures, by reportable segment, for the 13 and 26 weeks ended August 2, 2025 and August 3, 2024:
| 13 weeks ended |  | 26 weeks ended
(in millions) | August 2, 2025 |  | August 3, 2024 |  | August 2, 2025 |  | August 3, 2024
Depreciation and amortization: |  |  |  |  |  |  |
North America segment | $ | 34.4 |  |  | $ | 34.3 |  |  | $ | 68.9 |  |  | $ | 68.3 |
International segment | 2.5 |  |  | 3.5 |  |  | 4.9 |  |  | 6.0 |
Other segment | 0.1 |  |  | 0.1 |  |  | 0.2 |  |  | 0.2 |
Total depreciation and amortization | $ | 37.0 |  |  | $ | 37.9 |  |  | $ | 74.0 |  |  | $ | 74.5 |
Capital expenditures: |  |  |  |  |  |  |
North America segment | $ | 22.4 |  |  | $ | 26.8 |  |  | $ | 57.6 |  |  | $ | 49.5 |
International segment | 1.6 |  |  | 0.8 |  |  | 3.0 |  |  | 1.3 |
Other segment | — |  |  | 0.4 |  |  | — |  |  | 0.5 |
Total capital expenditures | $ | 24.0 |  |  | $ | 28.0 |  |  | $ | 60.6 |  |  | $ | 51.3 |
The following tables provide the Company’s total assets and total long-lived assets, by reportable segment, as of August 2, 2025, February 1, 2025 and August 3, 2024:
(in millions) | August 2, 2025 |  | February 1, 2025 |  | August 3, 2024
Total assets: |  |  |  |  |
North America segment | $ | 4,727.5 |  |  | $ | 5,045.8 |  |  | $ | 5,054.3 |
International segment | 368.2 |  |  | 381.0 |  |  | 375.9 |
Other segment | 92.8 |  |  | 93.2 |  |  | 98.9 |
Corporate and unallocated | 154.3 |  |  | 206.6 |  |  | 84.7 |
Total assets | $ | 5,342.8 |  |  | $ | 5,726.6 |  |  | $ | 5,613.8 |
Total long-lived assets (1): |  |  |  |  |
North America segment | $ | 1,159.4 |  |  | $ | 1,258.0 |  |  | $ | 1,425.3 |
International segment | 35.4 |  |  | 34.7 |  |  | 32.6 |
Other segment | 2.8 |  |  | 3.0 |  |  | 3.0 |
Total long-lived assets | $ | 1,197.6 |  |  | $ | 1,295.7 |  |  | $ | 1,460.9 |
(1) Includes property, plant and equipment, net; goodwill; and intangible assets, net.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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