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Long-term debt
 3 Months Ended
May 03, 2025
Debt Disclosure [Abstract]  
Long-term debt Long-term debt
The following table summarizes the details of the Company’s long-term debt as of May 3, 2025, February 1, 2025 and May 4, 2024:
(in millions)May 3, 2025February 1, 2025May 4, 2024
Debt:
4.70% Senior unsecured notes due in June 2024, net of unamortized discount$— $— $147.8 
Gross debt— — 147.8 
Less: Current portion of long-term debt— — (147.8)
Total long-term debt$— $— $— 
Senior unsecured notes due 2024
On May 19, 2014, Signet UK Finance plc (“Signet UK Finance”), a wholly owned subsidiary of the Company, issued $400 million aggregate principal amount of its 4.70% senior unsecured notes due in June 2024 (the “Senior Notes”). The Senior Notes were jointly and severally guaranteed, on a full and unconditional basis, by the Company and by certain of the Company’s wholly owned subsidiaries. On September 5, 2019, Signet UK Finance announced the commencement of a tender offer to purchase any and all of its outstanding Senior Notes (the “Tender Offer”). Signet UK Finance tendered $239.6 million of the Senior Notes, representing a purchase price of $950.00 per $1,000.00 in principal, leaving $147.8 million of the Senior Notes outstanding after the Tender Offer.
The Company fully repaid the Senior Notes upon maturity during the second quarter of Fiscal 2025.
Asset-based credit facility
On September 27, 2019, the Company entered into a senior secured asset-based revolving credit facility in an aggregate committed amount of $1.5 billion (the “ABL”). The Company has the option to increase the size of the ABL by up to an additional $600 million. On August 23, 2024, the Company entered into the Fourth Amendment to the Credit Agreement (the “Fourth Amendment”) to amend the ABL. The Fourth Amendment extended the maturity of the ABL from July 28, 2026 to August 23, 2029, and reduced the ABL aggregate commitment to $1.2 billion. In addition, the Fourth Amendment expands the assets counted in the calculation of the borrowing base applicable to the ABL to include all specified assets of borrower and guarantor entities. The Company incurred additional debt issuance costs of $4.3 million relating to the Fourth Amendment of the ABL during Fiscal 2025.
The Company had no outstanding borrowings on the ABL for the periods presented and its available borrowing capacity was $1.1 billion as of May 3, 2025.