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Segment information (Tables)
12 Months Ended
Feb. 01, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, By Segment
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.