Torrid Holdings, Inc. ( (CURV) ) has released its Q3 earnings. Here is a breakdown of the information Torrid Holdings, Inc. presented to its investors.
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Torrid Holdings, Inc., a direct-to-consumer brand based in North America, specializes in stylish apparel, intimates, and accessories for curvy women sizes 10 to 30, leveraging both e-commerce and physical retail channels.
In its latest earnings report for the third quarter of fiscal 2024, Torrid Holdings Inc. announced net sales of $263.8 million, marking a decrease from the previous year. Despite a challenging environment, the company achieved a significant improvement in its gross profit margin and slightly narrowed its net loss compared to the last year.
Key highlights from the report include a 285 basis point expansion in the gross profit margin to 36.1%, attributed to reduced product costs and increased sales of regular-priced items. The net loss was reduced to $1.2 million from $2.7 million in the same quarter last year. Adjusted EBITDA showed modest growth, reaching $19.6 million, and the company managed to end the quarter with $44 million in cash.
Looking ahead, Torrid’s management remains cautious with its expectations for the fourth quarter, projecting net sales between $255.0 million and $270.0 million. Despite current market volatility, the company is optimistic about its strategic adjustments and anticipates positioning itself for growth in the upcoming fiscal year 2025.
