Torrid Holdings Inc. (NYSE:CURV) shares fell 14.5% to $1.12 in after-hours trading on Wednesday after the retailer reported its third-quarter fiscal results.
Check out the current price of CURV stock here.
According to Benzinga Pro data, Torrid Holdings closed on Wednesday at $1.31, down 0.76%.
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% to $235.2 million from $263.8 million, while comparable sales declined 8.3%.
CEO Addresses Performance
Lisa Harper, Chief Executive Officer of Torrid Holdings, said, "Our third-quarter results fell short of our expectations due to execution missteps 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 Metrics Decline
The gross profit margin was 34.9% as compared to 36.1% in the same quarter last year.
In comparison to $19.6 million, or 7.4% of net sales, in the third quarter of the previous year, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $9.8 million, or 4.2% of net sales.
Fiscal 2025 Outlook
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 up to 180 stores this fiscal year. So far, it has closed 74 stores, leaving 560 stores at the end of the quarter, down from 655 stores a year ago.
Stock Performance
CURV is down 61.81% over the past year.
Torrid Holdings has a market capitalization of $129.91 million and a 52-week range of $1.10 to $7.19.
Benzinga’s Edge Stock Rankings indicate that CURV has a negative price trend across all time frames. Here is how the stock fares on other parameters.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
