Signet Jewelers delivered a challenging QQ2 2025 from a GAAP earnings perspective, with revenue of $1.491 billion and a reported net loss of $98.5 million, driven by impairment charges and deleveraging costs. On a non-GAAP basis, adjusted operating income was $68.6 million and adjusted earnings per share (EPS) was $1.25, reflecting operational discipline offset by non-cash impairment charges related to Digital Banners and ongoing macro headwinds. The quarter underscored a continuing recovery in engagement-driven demand, led by Fashion and Services, and the company reaffirmed its full-year fiscal 2025 guidance while lifting cost-savings targets. Management highlighted a resilient merchandising strategy, acceleration in Fashion newness, robust ATV improvements in Fashion, and a growing Services attachment, all supported by ongoing store and digital investments.