Revenue recognition (Tables)

6 Months Ended

Jul. 31, 2021

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 26 weeks ended July 31, 2021 and August 1, 2020:


	13 weeks ended July 31, 2021								13 weeks ended August 1, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by banner:
Kay	$	673.7	$	—	$	—	$	673.7	$	325.0	$	—	$	—	$	325.0
Zales	367.3		—		—		367.3		185.1		—		—		185.1
Jared	311.9		—		—		311.9		168.5		—		—		168.5
Piercing Pagoda	138.7		—		—		138.7		59.3		—		—		59.3
James Allen	108.8		—		—		108.8		64.3		—		—		64.3
Peoples	41.4		—		—		41.4		20.8		—		—		20.8
International segment banners	—		130.7		—		130.7		—		61.0		—		61.0
Other (1)	3.9		—		11.7		15.6		—		—		4.0		4.0
Total sales	$	1,645.7	$	130.7	$	11.7	$	1,788.1	$	823.0	$	61.0	$	4.0	$	888.0

	26 weeks ended July 31, 2021								26 weeks ended August 1, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by banner:
Kay	$	1,350.4	$	—	$	—	$	1,350.4	$	658.5	$	—	$	—	$	658.5
Zales	738.1		—		—		738.1		367.4		—		—		367.4
Jared	596.0		—		—		596.0		313.9		—		—		313.9
Piercing Pagoda	287.6		—		—		287.6		110.7		—		—		110.7
James Allen	210.3		—		—		210.3		108.1		—		—		108.1
Peoples	76.0		—		—		76.0		45.5		—		—		45.5
International segment banners	—		188.1		—		188.1		—		125.9		—		125.9
Other (1)	5.3		—		25.1		30.4		—		—		10.1		10.1
Total sales	$	3,263.7	$	188.1	$	25.1	$	3,476.9	$	1,604.1	$	125.9	$	10.1	$	1,740.1

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


	13 weeks ended July 31, 2021								13 weeks ended August 1, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by product:
Bridal	$	696.9	$	60.7	$	—	$	757.6	$	417.1	$	28.8	$	—	$	445.9
Fashion	680.7		20.7		—		701.4		294.5		12.7		—		307.2
Watches	58.6		41.0		—		99.6		23.7		22.4		—		46.1
Other (1)	209.5		8.3		11.7		229.5		87.7		(2.9)		4.0		88.8
Total sales	$	1,645.7	$	130.7	$	11.7	$	1,788.1	$	823.0	$	61.0	$	4.0	$	888.0

	26 weeks ended July 31, 2021								26 weeks ended August 1, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by product:
Bridal	$	1,423.6	$	89.5	$	—	$	1,513.1	$	731.2	$	56.9	$	—	$	788.1
Fashion	1,342.1		30.4		—		1,372.5		592.4		25.3		—		617.7
Watches	105.5		58.2		—		163.7		48.3		39.9		—		88.2
Other (1)	392.5		10.0		25.1		427.6		232.2		3.8		10.1		246.1
Total sales	$	3,263.7	$	188.1	$	25.1	$	3,476.9	$	1,604.1	$	125.9	$	10.1	$	1,740.1

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


	13 weeks ended July 31, 2021								13 weeks ended August 1, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by channel:
Store	$	1,333.3	$	106.9	$	—	$	1,440.2	$	574.6	$	39.3	$	—	$	613.9
E-commerce	312.4		23.8		—		336.2		248.4		21.7		—		270.1
Other	—		—		11.7		11.7		—		—		4.0		4.0
Total sales	$	1,645.7	$	130.7	$	11.7	$	1,788.1	$	823.0	$	61.0	$	4.0	$	888.0

	26 weeks ended July 31, 2021								26 weeks ended August 1, 2020
(in millions)	North America		International		Other		Consolidated		North America		International		Other		Consolidated
Sales by channel:
Store	$	2,632.9	$	136.4	$	—	$	2,769.3	$	1,206.5	$	88.7	$	—	$	1,295.2
E-commerce	630.8		51.7		—		682.5		397.6		37.2		—		434.8
Other	—		—		25.1		25.1		—		—		10.1		10.1
Total sales	$	3,263.7	$	188.1	$	25.1	$	3,476.9	$	1,604.1	$	125.9	$	10.1	$	1,740.1

Other Assets

Unamortized deferred selling costs as of July 31, 2021, January 30, 2021 and August 1, 2020 were as follows:


(in millions)	July 31, 2021		January 30, 2021		August 1, 2020
Other current assets	$	25.4	$	26.2	$	30.2
Other assets	87.1		85.1		76.4
Total deferred selling costs	$	112.5	$	111.3	$	106.6

Deferred Revenue

Deferred revenue consists of the following:


(in millions)	July 31, 2021		January 30, 2021		August 1, 2020
ESP deferred revenue	$	1,063.8	$	1,028.9	$	990.5
Other deferred revenue (1)	43.5		43.1		39.7
Total deferred revenue	$	1,107.3	$	1,072.0	$	1,030.2

Disclosed as:
Current liabilities	$	297.9	$	288.7	$	330.9
Non-current liabilities	809.4		783.3		699.3
Total deferred revenue	$	1,107.3	$	1,072.0	$	1,030.2

(1) Other deferred revenue includes primarily 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)	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
ESP deferred revenue, beginning of period	$	1,049.4	$	961.0	$	1,028.9	$	960.0
Plans sold (1)	118.6		55.7		242.7		109.4
Revenue recognized (2)	(104.2)		(26.2)		(207.8)		(78.9)
ESP deferred revenue, end of period	$	1,063.8	$	990.5	$	1,063.8	$	990.5

(1) Includes impact of foreign exchange translation.

(2) The Company recognized sales of $63.9 million and $136.5 million during the 13 and 26 weeks ended July 31, 2021, respectively, and $9.7 million and $54.2 million during the 13 and 26 weeks ended August 1, 2020, respectively, related to deferred revenue that existed at the beginning of the period in respect to ESP. In Fiscal 2021, 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.