Derivatives	6 Months Ended
Aug. 02, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Derivative transactions are used by Signet for risk management purposes to address risks inherent in the Company’s business operations and sources of financing. The Company is currently utilizing financial derivatives to mitigate commodity price and foreign currency risks. Signet does not enter into derivative transactions for speculative purposes. The following types of derivative financial instruments are utilized by the Company to mitigate certain risk exposures related to changes in commodity prices and foreign exchange rates: Commodity forward contracts (designated) — The Company has exposure to movements in the price of the underlying precious metal raw material components of the products sold by Signet. Signet’s policy is to reduce the impact of precious metal commodity price volatility on operating results through the use of outright forward purchases of, or by entering into options to purchase, precious metals within treasury guidelines approved by the Company’s Chief Operating and Financial Officer. In particular, when price and volume warrant such actions, Signet undertakes hedging of its requirements for gold through the use of forward purchase contracts, options or net zero premium collar option contracts. These contracts are entered into to reduce Signet’s exposure to movements in the price of the underlying precious metal raw material. Signet began hedging its exposure to gold prices during the 13 weeks ended August 2, 2025. The total notional amount of these forward contracts as of August 2, 2025 was 16,000 ounces of gold. These contracts have been designated as cash flow hedges and will be settled over the next 11 months. The fair value of outstanding contracts as well as related activity were not material for the periods presented. Forward foreign currency exchange contracts (designated) — These contracts, which are principally in US dollars, are entered into to limit the impact of movements in foreign exchange rates on forecasted foreign currency purchases. The total notional amount of these foreign currency contracts outstanding as of August 2, 2025 was $23.1 million (February 1, 2025 and August 3, 2024: $13.3 million and $18.4 million, respectively). These contracts have been designated as cash flow hedges and will be settled over the next 12 months (February 1, 2025 and August 3, 2024: 11 months and 12 months, respectively). The fair value of outstanding contracts as well as related activity were not material for the periods presented. There were no discontinued cash flow hedges during the 26 weeks ended August 2, 2025 and August 3, 2024 as all forecasted transactions are expected to occur as originally planned. As of August 2, 2025, based on current valuations, the Company expects approximately $0.2 million of net pre-tax derivative losses to be reclassified out of AOCI into earnings within the next 12 months. Forward foreign currency exchange contracts (undesignated) — Foreign currency contracts not designated as cash flow hedges are used to limit the impact of movements in foreign exchange rates on recognized foreign currency payables and to hedge currency flows through Signet’s bank accounts to mitigate Signet’s exposure to foreign currency exchange risk in its cash and borrowings. The total notional amount of these foreign currency contracts outstanding as of August 2, 2025 was $123.7 million (February 1, 2025 and August 3, 2024: $86.6 million and $62.0 million, respectively). The Company recognizes activity related to these derivative instruments within other operating expense, net in the condensed consolidated statements of operations. There were losses of $0.8 million and gains of $4.4 million during the 13 and 26 weeks ended August 2, 2025, respectively, and losses were $0.3 million and $1.8 million during the 13 and 26 weeks ended August 3, 2024, respectively. The bank counterparties to the derivative instruments expose the Company to credit-related losses in the event of their non-performance. However, to mitigate that risk, the Company only contracts with counterparties that meet certain minimum requirements under its counterparty risk assessment process. As of August 2, 2025, the Company believes that this credit risk did not materially change the fair value of the foreign currency contracts.

Derivative transactions are used by Signet for risk management purposes to address risks inherent in the Company’s business operations and sources of financing. The Company is currently utilizing financial derivatives to mitigate commodity price and foreign currency risks. Signet does not enter into derivative transactions for speculative purposes.

Commodity forward contracts (designated) — The Company has exposure to movements in the price of the underlying precious metal raw material components of the products sold by Signet. Signet’s policy is to reduce the impact of precious metal commodity price volatility on operating results through the use of outright forward purchases of, or by entering into options to purchase, precious metals within treasury guidelines approved by the Company’s Chief Operating and Financial Officer. In particular, when price and volume warrant such actions, Signet undertakes hedging of its requirements for gold through the use of forward purchase contracts, options or net zero premium collar option contracts. These contracts are entered into to reduce Signet’s exposure to movements in the price of the underlying precious metal raw material. Signet began hedging its exposure to gold prices during the 13 weeks ended August 2, 2025. The total notional amount of these forward contracts as of August 2, 2025 was 16,000 ounces of gold. These contracts have been designated as cash flow hedges and will be settled over the next 11 months. The fair value of outstanding contracts as well as related activity were not material for the periods presented.

Forward foreign currency exchange contracts (designated) — These contracts, which are principally in US dollars, are entered into to limit the impact of movements in foreign exchange rates on forecasted foreign currency purchases. The total notional amount of these foreign currency contracts outstanding as of August 2, 2025 was $23.1 million (February 1, 2025 and August 3, 2024: $13.3 million and $18.4 million, respectively). These contracts have been designated as cash flow hedges and will be settled over the next 12 months (February 1, 2025 and August 3, 2024: 11 months and 12 months, respectively). The fair value of outstanding contracts as well as related activity were not material for the periods presented.

There were no discontinued cash flow hedges during the 26 weeks ended August 2, 2025 and August 3, 2024 as all forecasted transactions are expected to occur as originally planned. As of August 2, 2025, based on current valuations, the Company expects approximately $0.2 million of net pre-tax derivative losses to be reclassified out of AOCI into earnings within the next 12 months.

Forward foreign currency exchange contracts (undesignated) — Foreign currency contracts not designated as cash flow hedges are used to limit the impact of movements in foreign exchange rates on recognized foreign currency payables and to hedge currency flows through Signet’s bank accounts to mitigate Signet’s exposure to foreign currency exchange risk in its cash and borrowings. The total notional amount of these foreign currency contracts outstanding as of August 2, 2025 was $123.7 million (February 1, 2025 and August 3, 2024: $86.6 million and $62.0 million, respectively).

The Company recognizes activity related to these derivative instruments within other operating expense, net in the condensed consolidated statements of operations. There were losses of $0.8 million and gains of $4.4 million during the 13 and 26 weeks ended August 2, 2025, respectively, and losses were $0.3 million and $1.8 million during the 13 and 26 weeks ended August 3, 2024, respectively.

The bank counterparties to the derivative instruments expose the Company to credit-related losses in the event of their non-performance. However, to mitigate that risk, the Company only contracts with counterparties that meet certain minimum requirements under its counterparty risk assessment process. As of August 2, 2025, the Company believes that this credit risk did not materially change the fair value of the foreign currency contracts.