Torrid Holdings Inc. – Q2 Fiscal 2024 Results

Torrid Holdings Inc. (NYSE: CURV), a prominent American plus-size women’s fashion retailer, announced its financial results for Q2 of fiscal 2024.

Financial Highlights

• Net Sales: $285 million
• Adjusted EBITDA: $35 million (12.2% margin)

Torrid is now in the second phase of its strategy, targeting product expansion and growth of its customer base while optimizing its store footprint. The company anticipates fiscal year net sales between $1.135 billion and $1.145 billion and adjusted EBITDA between $110 million and $116 million.

Key Takeaways

• Sales Growth: Increased net sales and EBITDA from strategic direction.
• Inventory Management: Inventory reduced by 40%, retail ticket prices up by 15%.
• Store Optimization: Plans to close 20-25 stores mainly in enclosed malls.
• New Collections: Capsule collections to attract younger consumers.

Company Outlook

• Growth Expectations: Low- to mid-single digit growth in comparable sales.
• Product Expansion: Introduce new collections in 2025 targeting diverse client demographics.

Financial Metrics

• Market Cap: $698.1 million
• P/E Ratio: 57.22
• Recent Performance: 211.16% total return over the past year.

Summary

Torrid Holdings exceeded Q2 targets, reporting $285 million in sales and a 12.2% EBITDA margin, while focusing on store optimization and product expansion.