Revenue recognition (Tables)

12 Months Ended

Jan. 29, 2022

Revenue from Contract with Customer [Abstract]

The following tables provide the Company’s total sales, disaggregated by banner, for Fiscal 2022, Fiscal 2021 and Fiscal 2020:


	Fiscal 2022
(in millions)	North America		International		Other		Consolidated
Sales by banner:
Kay	$	2,985.8	$	—	$	—	$	2,985.8
Zales	1,624.8		—		—		1,624.8
Jared	1,326.3		—		—		1,326.3
Banter by Piercing Pagoda	553.4		—		—		553.4
Diamonds Direct (2)	132.5		—		—		132.5
James Allen	422.8		—		—		422.8
Peoples	206.2		—		—		206.2

International segment banners	—		492.4		—		492.4
Other (1)	13.0		—		68.8		81.8
Total sales	$	7,264.8	$	492.4	$	68.8	$	7,826.0

	Fiscal 2021
(in millions)	North America		International		Other		Consolidated
Sales by banner:
Kay	$	2,008.6	$	—	$	—	$	2,008.6
Zales	1,121.6		—		—		1,121.6
Jared	920.9		—		—		920.9
Banter by Piercing Pagoda	337.5		—		—		337.5
James Allen	301.4		—		—		301.4
Peoples	150.9		—		—		150.9

International segment banners	—		355.9		—		355.9
Other (1)	—		—		30.1		30.1
Total sales	$	4,840.9	$	355.9	$	30.1	$	5,226.9

	Fiscal 2020
(in millions)	North America		International		Other		Consolidated
Sales by banner:
Kay	$	2,414.0	$	—	$	—	$	2,414.0
Zales	1,276.8		—		—		1,276.8
Jared	1,088.1		—		—		1,088.1
Banter by Piercing Pagoda	331.7		—		—		331.7
James Allen	250.6		—		—		250.6
Peoples	204.6		—		—		204.6

International segment banners	—		518.0		—		518.0
Other (1)	—		—		53.3		53.3
Total sales	$	5,565.8	$	518.0	$	53.3	$	6,137.1

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

(2) Includes Diamonds Direct sales since the date of acquisition on November 17, 2021. See Note 4 for further details..

The following tables provide the Company’s total sales, disaggregated by major product, for Fiscal 2022, Fiscal 2021 and Fiscal 2020:


	Fiscal 2022
(in millions)	North America		International		Other		Consolidated
Sales by product:
Bridal	$	3,087.6	$	222.8	$	—	$	3,310.4
Fashion	3,130.1		92.7		—		3,222.8
Watches	241.8		157.8		—		399.6
Other (1)	805.3		19.1		68.8		893.2
Total sales	$	7,264.8	$	492.4	$	68.8	$	7,826.0

	Fiscal 2021
(in millions)	North America		International		Other		Consolidated
Sales by product:
Bridal	$	2,140.5	$	166.4	$	—	$	2,306.9
Fashion	1,987.9		69.2		—		2,057.1
Watches	145.6		108.5		—		254.1
Other (1)	566.9		11.8		30.1		608.8
Total sales	$	4,840.9	$	355.9	$	30.1	$	5,226.9

	Fiscal 2020
(in millions)	North America		International		Other		Consolidated
Sales by product:
Bridal	$	2,403.4	$	214.3	$	—	$	2,617.7
Fashion	2,131.0		110.5		—		2,241.5
Watches	214.9		169.1		—		384.0
Other (1)	816.5		24.1		53.3		893.9
Total sales	$	5,565.8	$	518.0	$	53.3	$	6,137.1

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

The following tables provide the Company’s total sales, disaggregated by channel, for Fiscal 2022, Fiscal 2021 and Fiscal 2020:


	Fiscal 2022
(in millions)	North America		International		Other		Consolidated
Sales by channel:
Store	$	5,867.9	$	377.7	$	—	$	6,245.6
eCommerce	1,396.9		114.7		—		1,511.6
Other (1)	—		—		68.8		68.8
Total sales	$	7,264.8	$	492.4	$	68.8	$	7,826.0

	Fiscal 2021
(in millions)	North America		International		Other		Consolidated
Sales by channel:
Store	$	3,772.9	$	238.9	$	—	$	4,011.8
eCommerce	1,068.0		117.0		—		1,185.0
Other (1)	—		—		30.1		30.1
Total sales	$	4,840.9	$	355.9	$	30.1	$	5,226.9

	Fiscal 2020
(in millions)	North America		International		Other		Consolidated
Sales by channel:
Store	$	4,880.2	$	453.2	$	—	$	5,333.4
eCommerce	685.6		64.8		—		750.4
Other (1)	—		—		53.3		53.3
Total sales	$	5,565.8	$	518.0	$	53.3	$	6,137.1

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

Unamortized Deferred Selling Costs

Unamortized deferred selling costs as of Fiscal 2022 and Fiscal 2021 were as follows:


(in millions)	January 29, 2022		January 30, 2021
Deferred selling costs
Other current assets	$	28.4	$	26.2
Other assets	87.8		85.1
Total deferred selling costs	$	116.2	$	111.3

Summary of Deferred Revenue

Deferred revenue consists primarily of ESP and other deferred revenue as follows:


(in millions)	January 29, 2022		January 30, 2021
ESP deferred revenue	$	1,116.5	$	1,028.9
Other deferred revenue (1)	82.4		43.1
Total deferred revenue	$	1,198.9	$	1,072.0

Disclosed as:
Current liabilities	$	341.3	$	288.7
Non-current liabilities	857.6		783.3
Total deferred revenue	$	1,198.9	$	1,072.0

(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.


(in millions)	Fiscal 2022		Fiscal 2021
ESP deferred revenue, beginning of period	$	1,028.9	$	960.0
Plans sold (1)	528.9		337.4
Revenue recognized (2)	(441.3)		(268.5)
ESP deferred revenue, end of period	$	1,116.5	$	1,028.9

(1) Includes impact of foreign currency translation.

(2) During Fiscal 2022 and Fiscal 2021, the Company recognized sales of approximately $244.1 million and $163.5 million, respectively, related to deferred revenue that existed at the beginning of the year 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.