Revenue recognition (Tables)

9 Months Ended

Oct. 31, 2020

Revenue from Contract with Customer [Abstract]

The following tables provide the Company’s revenue, disaggregated by banner, major product and channel, for the 13 and 39 weeks ended October 31, 2020 and November 2, 2019:


	13 weeks ended October 31, 2020								13 weeks ended November 2, 2019
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by banner:
Kay	$	490.5	$	—	$	—	$	490.5	$	469.5	$	—	$	—	$	469.5
Zales	251.4		—		—		251.4		223.0		—		—		223.0
Jared	232.7		—		—		232.7		211.3		—		—		211.3
Piercing Pagoda	93.7		—		—		93.7		68.3		—		—		68.3
James Allen	76.6		—		—		76.6		60.8		—		—		60.8
Peoples	37.8		—		—		37.8		37.8		—		—		37.8
International segment	—		106.9		—		106.9		—		106.4		—		106.4
Other(1)	—		—		10.7		10.7		—		—		10.6		10.6
Total sales	$	1,182.7	$	106.9	$	10.7	$	1,300.3	$	1,070.7	$	106.4	$	10.6	$	1,187.7

	39 weeks ended October 31, 2020								39 weeks ended November 2, 2019
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by banner:
Kay	$	1,149.0	$	—	$	—	$	1,149.0	$	1,581.3	$	—	$	—	$	1,581.3
Zales	618.8		—		—		618.8		791.5		—		—		791.5
Jared	546.6		—		—		546.6		720.9		—		—		720.9
Piercing Pagoda	204.4		—		—		204.4		225.1		—		—		225.1
James Allen	184.7		—		—		184.7		166.4		—		—		166.4
Peoples	83.3		—		—		83.3		126.8		—		—		126.8
International segment	—		232.8		—		232.8		—		331.8		—		331.8
Other(1)	—		—		20.8		20.8		—		—		40.0		40.0
Total sales	$	2,786.8	$	232.8	$	20.8	$	3,040.4	$	3,612.0	$	331.8	$	40.0	$	3,983.8

(1) Includes sales from Signet’s diamond sourcing initiative.


	13 weeks ended October 31, 2020								13 weeks ended November 2, 2019
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by product:
Bridal	$	564.5	$	48.0	$	—	$	612.5	$	499.3	$	43.9	$	—	$	543.2
Fashion	400.7		19.5		—		420.2		342.4		21.3		—		363.7
Watches	33.6		33.4		—		67.0		41.2		35.5		—		76.7
Other(1)	183.9		6.0		10.7		200.6		187.8		5.7		10.6		204.1
Total sales	$	1,182.7	$	106.9	$	10.7	$	1,300.3	$	1,070.7	$	106.4	$	10.6	$	1,187.7

	39 weeks ended October 31, 2020								39 weeks ended November 2, 2019
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by product:
Bridal	$	1,295.7	$	104.9	$	—	$	1,400.6	$	1,654.3	$	139.8	$	—	$	1,794.1
Fashion	993.1		44.8		—		1,037.9		1,245.2		64.9		—		1,310.1
Watches	81.9		73.3		—		155.2		142.4		108.8		—		251.2
Other(1)	416.1		9.8		20.8		446.7		570.1		18.3		40.0		628.4
Total sales	$	2,786.8	$	232.8	$	20.8	$	3,040.4	$	3,612.0	$	331.8	$	40.0	$	3,983.8

(1) Other revenue primarily includes gift, beads and other miscellaneous jewelry sales, repairs, service plan and other miscellaneous non-jewelry sales.


	13 weeks ended October 31, 2020								13 weeks ended November 2, 2019
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by channel:
Store	$	963.7	$	87.1	$	—	$	1,050.8	$	943.9	$	93.9	$	—	$	1,037.8
E-commerce	219.0		19.8		—		238.8		126.8		12.5		—		139.3
Other (1)	—		—		10.7		10.7		—		—		10.6		10.6
Total sales	$	1,182.7	$	106.9	$	10.7	$	1,300.3	$	1,070.7	$	106.4	$	10.6	$	1,187.7

	39 weeks ended October 31, 2020								39 weeks ended November 2, 2019
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by channel:
Store	$	2,170.2	$	175.8	$	—	$	2,346.0	$	3,198.4	$	294.9	$	—	$	3,493.3
E-commerce	616.6		57.0		—		673.6		413.6		36.9		—		450.5
Other (1)	—		—		20.8		20.8		—		—		40.0		40.0
Total sales	$	2,786.8	$	232.8	$	20.8	$	3,040.4	$	3,612.0	$	331.8	$	40.0	$	3,983.8

(1) Includes sales from Signet’s diamond sourcing initiative.

Other Assets

Unamortized deferred selling costs as of October 31, 2020, February 1, 2020 and November 2, 2019 were as follows:


(in millions)	October 31, 2020		February 1, 2020		November 2, 2019
Other current assets	$	24.0	$	23.6	$	23.5
Other assets	81.7		80.0		76.1
Total deferred selling costs	$	105.7	$	103.6	$	99.6

Deferred Revenue

Deferred revenue is comprised primarily of ESP and voucher promotions as follows:


(in millions)	October 31, 2020		February 1, 2020		November 2, 2019
ESP deferred revenue	$	983.2	$	960.0	$	919.5
Voucher promotions and other	39.6		37.7		41.0
Total deferred revenue	$	1,022.8	$	997.7	$	960.5

Disclosed as:
Current liabilities	$	258.5	$	266.2	$	267.3
Non-current liabilities	764.3		731.5		693.2
Total deferred revenue	$	1,022.8	$	997.7	$	960.5


	13 weeks ended				39 weeks ended
(in millions)	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
ESP deferred revenue, beginning of period	$	990.5	$	930.2	$	960.0	$	927.6
Plans sold(1)	83.8		78.0		193.2		264.5
Revenue recognized(2)	(91.1)		(88.7)		(170.0)		(272.6)
ESP deferred revenue, end of period	$	983.2	$	919.5	$	983.2	$	919.5

(1) Includes impact of foreign exchange translation.

(2) During the 13 and 39 weeks ended October 31, 2020, the Company recognized sales of $61.6 million and $115.8 million, respectively, related to deferred revenue that existed at February 1, 2020 in respect to ESP. Additionally, no ESP revenue was recognized beginning on March 23, 2020 due to the temporary closure of the Company’s stores and service centers as a result of COVID-19. As the Company began reopening stores and service centers during the second quarter of Fiscal 2021, the Company resumed recognizing service revenue as it fulfilled its performance obligations under the ESP.