v3.26.1
Income taxes
 6 Months Ended
Aug. 01, 2026
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
26 weeks ended
August 1, 2026August 2, 2025
Estimated annual effective tax rate before discrete items22.1 %22.6 %
Discrete items recognized
4.2 %29.3 %
Effective tax rate recognized in statements of operations
26.3 %51.9 %
During the 26 weeks ended August 1, 2026, the Company’s effective tax rate was higher than the Bermuda corporate income tax rate, primarily as a result of the unfavorable impact of foreign rate differences (primarily in the US).
The Company’s effective tax rate for the same period during the prior year was higher than the Bermuda corporate income tax rate, primarily as a result of the unfavorable impact of foreign rate differences (primarily in the US) and unfavorable discrete tax items recognized in the 26 weeks ended August 2, 2025, including non-deductible goodwill impairment charges of $53.6 million and the tax shortfall for share-based compensation which vested during the year of $0.7 million.
As of August 1, 2026, there has been no material change in the amounts of unrecognized tax benefits, or the related accrued interest and penalties (where appropriate), in respect of uncertain tax positions identified and recorded as of January 31, 2026. The Company’s income tax positions are based upon interpretation of the tax laws in effect in the various countries in which Signet operates at the time the position was recognized. If these tax laws, treaties or regulations were to change, or any tax authority were to successfully challenge Signet’s assessment of the effects of such laws, treaties and regulations, a higher effective tax rate and/or higher cash tax payments may result, which could have a material impact on the Company’s results of operations or cash flows.