Segment information

3 Months Ended

May 02, 2015

Segment Reporting [Abstract]

Segment information

Segment information

Financial information for each of Signet’s reportable segments is presented in the tables below. Signet's chief operating decision maker utilizes sales and operating income, after the elimination of any inter-segment transactions, to determine resource allocations and performance assessment measures. Signet’s sales are derived from the retailing of jewelry, watches, other products and services as generated through the management of its five reportable segments: Sterling Jewelers division, the Zale division, which consists of the Zale Jewelry and the Piercing Pagoda segments, UK Jewelry division and a separate reportable segment, "Other".

The Sterling Jewelers division operated in all 50 states. Its stores operate nationally in malls, outlets and off-mall locations as Kay Jewelers ("Kay") and regionally under a number of well-established mall-based brands. Destination superstores operate nationwide as Jared The Galleria Of Jewelry (“Jared”).

The Zale division operated jewelry stores (Zale Jewelry) and kiosks (Piercing Pagoda), located primarily in shopping malls throughout the US, Canada and Puerto Rico. Zale Jewelry includes national brands Zales Jewelers, Zales Outlet and Peoples Jewellers, along with regional brands Gordon’s Jewelers and Mappins Jewellers. Piercing Pagoda operates through mall-based kiosks.

The UK Jewelry division operated stores in the UK, Republic of Ireland and Channel Islands. Its stores operate in major regional shopping malls and prime ‘High Street’ locations (main shopping thoroughfares with high pedestrian traffic) under brands including H.Samuel and Ernest Jones.

Other consists of all non-reportable operating segments including subsidiaries involved in the purchasing and conversion of rough diamonds to polished stones and unallocated corporate administrative functions that are below the quantifiable threshold for separate disclosure as a reportable segment.

	13 weeks ended
(in millions)	May 2, 2015			May 3, 2014
Sales:
Sterling Jewelers	$	944.2		$	903.5
Zale Jewelry	372.9			n/a
Piercing Pagoda	64.2			n/a
UK Jewelry	146.5			151.7
Other	2.8			0.9
Total sales	$	1,530.6		$	1,056.1
Operating income (loss):
Sterling Jewelers	$	178.2		$	166.3
Zale Jewelry(1)	10.4			n/a
Piercing Pagoda(2)	5.1			n/a
UK Jewelry	0.5			—
Other(3)	(18.0		)	(15.6		)
Total operating income	$	176.2		$	150.7

⁽¹⁾  Includes net operating loss of $9.1 million related to the effects of purchase accounting associated with the acquisition of Zale Corporation for the 13 weeks ended May 2, 2015. See Note 3 for additional information.

⁽²⁾  Includes net operating loss of $2.3 million related to the effects of purchase accounting associated with the acquisition of Zale Corporation for the 13 weeks ended May 2, 2015. See Note 3 for additional information.

⁽³⁾  Includes $6.4 million and $8.4 million of transaction-related and integration expenses for the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. Transaction costs include expenses associated with advisor fees for legal, tax, accounting and consulting expenses.

n/a Not applicable as Zale division was acquired on May 29, 2014. See Note 3 for additional information.

(in millions)	May 2, 2015		January 31, 2015		May 3, 2014
Total assets:
Sterling Jewelers	$	3,639.5	$	3,647.3	$	3,263.8
Zale Jewelry	1,893.9		1,903.6		n/a
Piercing Pagoda	128.0		132.8		n/a
UK Jewelry	427.7		413.5		493.2
Other	155.5		230.4		264.6
Total assets	$	6,244.6	$	6,327.6	$	4,021.6

n/aNot applicable as Zale division was acquired on May 29, 2014. See Note 3 for additional information.