Torrid Holdings Inc. (NYSE:CURV) Shares fell 14.5% to $1.12 in after-hours trading on Wednesday after the retailer reported its fiscal third-quarter results.
View the current price of CURV shares here.
Torrid Holdings closed at $1.31 on Wednesday, down 0.76%, according to data from Benzinga Pro.
Third quarter financial results
The California-based company reported a net loss of $6.4 million, or 6 cents per share, for the quarter ended Nov. 1, compared with a net loss of $1.2 million, or 1 cent per share, in the same quarter last year.
Net sales fell 10.8% from $263.8 million to $235.2 million, while comparable sales fell 8.3%.
CEO talks about performance
Lisa HarperChief Executive Officer of Torrid Holdings, said: “Our third quarter results fell short of our expectations due to execution errors that were largely within our control.”
Harper noted that while several core categories showed strong comparable growth, “these gains were more than offset by an imbalance in our assortment mix.”
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Profitability figures are falling
Gross profit margin was 34.9%, compared to 36.1% in the same quarter last year.
Compared to $19.6 million, or 7.4% of net sales, in the third quarter of the prior year, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $9.8 million, or 4.2% of net sales.
Fiscal outlook for 2025
For the full fiscal year, Torrid Holdings expects net sales of $995 million to $1,002 billion and adjusted EBITDA of $59 million to $62 million.
The company expects to close 180 stores this fiscal year. So far, it has closed 74 stores, leaving 560 stores remaining at the end of the quarter, compared to 655 stores a year ago.
Stock performance
CURV is down 61.81% over the past year.
Torrid Holdings has a market cap of $129.91 million and a 52-week range of $1.10 to $7.19.
Benzinga’s Edge Stock Rankings indicate that CURV shows negative price development over all time frames. Here’s how the stock is doing on other parameters.
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Disclaimer: This content was produced in part using AI tools and was reviewed and published by Benzinga’s editorial staff.
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