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Segment information
 12 Months Ended
Feb. 01, 2025
Segment Reporting [Abstract]  
Segment information Segment information
Signet’s chief executive officer (“CEO”) is the Company’s 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. The Company previously used operating income as the segment measure of profit or loss. The new segment measure of profit or loss, segment operating income, 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 our 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 Fiscal 2025, Fiscal 2024 and Fiscal 2023 is presented in the tables below.
Fiscal 2025
(in millions)North
America		InternationalOtherCorporate and UnallocatedConsolidated
Sales (1)
$6,299.1 $373.2 $31.5 $— $6,703.8 
Merchandise expense (2)
(2,499.7)(158.3)(38.3)
Services expense (2)
(166.3)(9.4)
Other cost of sales (2)
(1,108.6)(93.2)(3.8)
SG&A (3)
(1,964.7)(103.1)(51.3)
Other segment operating (expense) income, net(8.6)0.3 (0.2)(0.5)
Total segment operating income (loss)$551.2 $9.5 $(10.8)$(51.8)$498.1 
Asset impairments (4)
(369.2)
Restructuring and related charges (5)
(12.1)
Loss on divestitures, net (6)
(2.6)
Leadership transition costs (7)
(2.4)
Integration-related expenses (8)
(1.1)
Interest income, net9.8 
Other non-operating income, net3.7 
Income before income taxes$124.2 
Fiscal 2024
(in millions)North
America		InternationalOtherCorporate and UnallocatedConsolidated
Sales (1)
$6,703.8 $430.7 $36.6 $— $7,171.1 
Merchandise expense (2)
(2,701.6)(192.5)(41.5)
Services expense (2)
(167.2)(12.1)
Other cost of sales (2)
(1,116.0)(110.4)(3.0)
SG&A (3)
(2,004.0)(113.6)(59.5)
Other segment operating expense, net(5.6)(0.1)(0.3)(0.9)
Total segment operating income (loss)$709.4 $2.0 $(8.2)$(60.4)$642.8 
Integration-related expenses (8)
(22.0)
Gain on divestitures, net (6)
12.3 
Restructuring and related charges (5)
(7.5)
Asset impairments (4)
(7.1)
Litigation charges (9)
3.0 
Interest income, net18.7 
Other non-operating expense, net(0.4)
Income before income taxes$639.8 
Fiscal 2023
(in millions)North
America		InternationalOtherCorporate and UnallocatedConsolidated
Sales (1)
$7,289.5 $470.1 $82.5 $— $7,842.1 
Merchandise expense (2)
(3,028.2)(211.5)(76.0)
Services expense (2)
(165.8)(12.3)
Other cost of sales (2)
(1,156.2)(122.7)(3.9)
SG&A (3)
(2,011.1)(120.8)(70.3)
Other segment operating expense, net(9.5)(3.0)(0.2)(0.2)
Total segment operating income (loss)$918.7 $(0.2)$2.4 $(70.5)$850.4 
Litigation charges (9)
(203.8)
Acquisition and integration-related expenses (8)
(25.8)
Asset impairments (4)
(15.9)
Interest expense, net(13.5)
Other non-operating expense, net(140.2)
Income before income taxes$451.2 
(1)    Includes sales of $197.8 million, $196.0 million and $209.1 million generated by Canadian operations in Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively.
(2)    See Note 1 for information on the nature of expenses included within cost of sales.
(3)    See Note 1 for information on the nature of expenses included within SG&A. SG&A for each reportable segment primarily includes:
North America and International - store staff and administrative costs, advertising and promotional costs, administrative support center expenses, credit costs, and other administrative operating expenses.
Corporate and unallocated - administrative support center expenses and other general and administrative operating expenses.
(4)    Fiscal 2025 primarily relates to asset impairment charges related to goodwill and indefinite-lived assets.
Fiscal 2024 and Fiscal 2023 primarily includes asset impairment charges related to long-lived assets.
See Note 14 and Note 16 for additional information.
(5)    Fiscal 2025 and Fiscal 2024 restructuring and related charges were incurred primarily as a result of the Company’s rationalization of store footprint and reorganization of certain centralized functions.
See Note 25 for additional information.
(6)    Fiscal 2025 includes charges associated with the previously announced sale of the UK prestige watch business.
Fiscal 2024 includes gain on sale of the UK prestige watch business, net of transaction costs.
See Note 4 for additional information.
(7)    Leadership transition costs primarily include professional fees incurred for the search for the Company’s recently appointed CEO, as well as severance and related costs incurred as part of other leadership transitions.
(8)    Fiscal 2025 includes severance and retention expenses related to the integration of Blue Nile.
Fiscal 2024 includes expenses related to the integration of Blue Nile, primarily severance and retention, exit and disposal costs, and system decommissioning costs.
Fiscal 2023 includes the impact of the fair value step-up for inventory acquired in the Diamonds Direct and Blue Nile acquisitions, as well as direct-transaction-related and integration costs, primarily professional fees and severance, incurred for the integration of Blue Nile.
(9)    Fiscal 2024 includes a credit to income related to the adjustment to the litigation accrual recognized in Fiscal 2023. See Note 28 for additional information.
The following tables provide the Company’s total depreciation and amortization and total capital expenditures, by reportable segment, for Fiscal 2025, Fiscal 2024 and Fiscal 2023:
(in millions)Fiscal 2025Fiscal 2024Fiscal 2023
Depreciation and amortization:
North America segment
$137.5 $151.1 $153.8 
International segment
10.3 10.4 10.3 
Other segment
0.4 0.4 0.4 
Total depreciation and amortization$148.2 $161.9 $164.5 
Capital expenditures:
North America segment
$143.2 $108.2 $127.6 
International segment
9.0 17.0 10.9 
Other segment
0.8 0.3 0.4 
Total capital expenditures$153.0 $125.5 $138.9 
The following tables provide the Company’s total assets and total long-lived assets, by reportable segment, as of February 1, 2025 and February 3, 2024.
(in millions)February 1, 2025February 3, 2024
Total assets:
North America segment
$5,045.8 $5,913.0 
International segment
381.0 437.4 
Other segment
93.2 98.9 
Corporate and unallocated206.6 363.9 
Total assets
$5,726.6 $6,813.2 
Total long-lived assets (1):
North America segment
$1,258.0 $1,616.1 
International segment
34.7 36.2 
Other segment
3.0 2.7 
Total long-lived assets
$1,295.7 $1,655.0 
(1)    Includes property, plant and equipment, net; goodwill; and intangible assets, net.