Torrid news and archive

Torrid improves Q1 profit, announces executive promotions

Torrid, women’s apparel, intimates, and accessories brand in North America, reported a 4.8 percent decrease in net sales to 279.8 million dollars, while comparable sales decreased 9 percent in the first quarter. However, the company’s gross profit margin improved to 41.3 percent, up 360 bps. Net income rose to 12.2 million dollars or 12 cents...

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Torrid Q4 comparable sales drop by 9 percent

Fourth quarter net sales at Torrid decreased 2.6 percent to 293.5 million dollars and comparable sales decreased 9 percent in the quarter under review. Gross profit margin was 34.5 percent, a 250-bps improvement, while net loss was 4.1 million dollars or 4 cents loss per share. Adjusted EBITDA remained flat at 16.4 million dollars or 5.6 percent...

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Torrid reports Q3 loss, promotes Paula Dempsey to CFO

For its third quarter, Torrid Holdings reported a net sales decrease of 8.3 percent to 275.4 million dollars, while comparable sales decreased 8 percent in the quarter. Gross profit margin dropped to 33.2 percent, net loss reached 2.7 million dollars or 3 cents per share, and adjusted EBITDA declined to 19.4 million dollars or 7 percent of net...

Business

Torrid Q2 sales fall 18 percent, lowers FY outlook

Plus-size womenswear brand Torrid has reported a 18.2 percent drop in net sales in the second quarter as the company navigates a “rebuild year” in a “challenging market”. The US brand, which specialises in fashion for sizes 10 to 30, generated sales of 289.1 million dollars in the three months to July 29, compared to 353.5 million dollars in the...

Business

Torrid posts Q1 sales decline of 11.8 percent

Torrid’s first quarter net sales decreased 11.8 percent to 293.9 million dollars and comparable sales decreased 14 percent. Gross profit margin was 37.7 percent compared to 39 percent in the first quarter of last year, a decline of 134 bps. The company’s net income decreased to 11.8 million dollars or 11 cents per share. Adjusted EBITDA was 38.3...

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Torrid swings to FY profit as Q4 losses narrow, appoints CCO

Plus-size womenswear brand Torrid returned to a profit in the year ended January 28 as its fourth-quarter losses narrowed. The US brand, which specialises in fashion for sizes 10 to 30, ended the year with a net income of 50.2 million dollars compared to a loss of 29.9 million dollars a year earlier. Adjusted EBITDA for the full year fell to...

Business

Plus-size brand Torrid launches resale programme with ThredUp

Torrid has announced the launch of a resale programme with resale-as-a-service (RaaS) tech firm ThredUp. The brand, which operates as direct-to-consumer for plus size apparel, intimates and accessories, has utilised ThredUp’s Clean Out programme to implement the resale offer. The deal will allow Torrid to implement the company’s proprietary...

Business

Torrid swings to Q3 profit, lowers FY outlook

Torrid has swung to a profit in the third quarter of the year but says it expects full-year sales and earnings to be lower than previously expected. The plus-size womenswear brand made a net profit of 7.3 million dollars in the quarter, compared to a loss of 58.9 million dollars a year earlier. That came despite net sales falling 5.3 percent in...

Business

Torrid Q2 revenues improve 2 percent

North American retail chain Torrid Holdings Inc. reported net sales increase of 2 percent to 340.9 million dollars for the second quarter. The company’s comparable sales increased 1 percent, following an increase of 30 percent in the second quarter of last year. Commenting on the second quarter results, Lisa Harper, the company’s CEO, stated: “...

Business

Torrid taps new COO and CFO, lowers Q2 guidance

Plus-size womenswear brand Torrid has lowered its outlook for the second quarter of the year and announced key new appointments to its top team. The US brand, which specialises in fashion for sizes 10 to 30, has appointed Tim Martin to the joint role of chief operating officer and chief financial officer, effective September 12. Martin joins...

Business

Torrid reports widening Q1 net profit

Plus-size womenswear brand Torrid has reported an 86.8 percent increase in net profit in the first quarter of the year. In the three months to April 30, the company made a net income of 24.1 million dollars, up from 12.9 million dollars a year ago. Meanwhile, its adjusted EBITDA was 51.8 million dollars, down from 75.7 million dollars. The...

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Torrid announces series of leadership changes including new CEO

Plus-size womenswear brand Torrid has announced a spate of changes to its top team, including a new CEO as former boss Liz Muñoz steps into the chief creative officer role. Muñoz has been at the helm of the US brand since August 2018, and prior to that held senior leadership roles at companies including Hot Topic - the former owner of Torrid -...