Torrid Holdings Inc. - CURV STOCK NEWS

Torrid Holdings Inc. (NYSE: CURV) has appointed Mark Mizicko as Chief Commercial Officer, effective March 23, 2023. Lisa Harper, CEO, expressed enthusiasm for Mizicko's return, highlighting his extensive retail experience. Mizicko's role will encompass Merchandising, Merchandise Planning and Allocation, Marketing, and E-Commerce. He brings over 25 years of retail expertise from notable companies including Gap Inc. and Gymboree. The leadership team, including Chief Creative Officer Liz Munoz and Chief Marketing Officer Vivian Alhorn, aims to enhance product offerings and customer experience.

Torrid Holdings announced its financial results for the fourth quarter ended January 28, 2023. Net sales reached $301.2 million, a 5.5% decrease year-over-year. Adjusted EBITDA was $16.4 million (5.6% of net sales), down from $28.4 million (9.1% of net sales) in the previous year. The company reported a net loss of $3.8 million, an improvement over the $22.8 million loss from the prior year. For fiscal 2023, Torrid projects net sales of $1.265-$1.320 billion and adjusted EBITDA of $140-$152 million, amid anticipated macroeconomic challenges and increased operational costs.

Torrid Holdings Inc. (NYSE: CURV) has announced its plans to release fourth quarter and fiscal 2022 financial results on March 23, 2023, after market close. A conference call will follow at 4:30 p.m. Eastern Time, where management will discuss the results. Interested participants can join by phone or via a live webcast. Torrid specializes in apparel, intimates, and accessories for women sizes 10 to 30 in North America, focusing on quality and fit.

Torrid Holdings Inc. (CURV) has launched a resale program in collaboration with thredUP (TDUP), making it the first plus-size brand to utilize thredUP’s Resale-as-a-Service (RaaS) platform. Beginning December 15, 2022, U.S. customers can send apparel and accessories from any brand to thredUP and receive Torrid shopping credits for sold items. This initiative aligns with Torrid's goals for sustainability and enhancing customer value. ThredUP's CEO noted that this program caters to a growing demand for secondhand shopping while promoting sustainability in fashion.

Torrid Holdings reported third-quarter financial results showing a 5.3% decrease in net sales, totaling $290.0 million, and a net income of $7.3 million or $0.07 per share. This contrasts with a net loss of $58.9 million in the same quarter last year. Gross profit margin fell to 31.6% due to increased discounts and inflation-related costs. The company anticipates fourth-quarter net sales between $285 million and $300 million and adjusted EBITDA of $9 million to $14 million. For fiscal 2022, net sales guidance is $1.244 billion to $1.259 billion.

Torrid Holdings Inc. (NYSE: CURV) will release its third quarter fiscal 2022 financial results after market close on December 8, 2022. A conference call will be held at 4:30 p.m. Eastern Time on the same day to discuss these results. Interested parties can join the call by dialing (877) 407-9208 or (201) 493-6784 for international callers, using conference ID 13733736. A replay will be available until December 15, 2022.

Torrid Holdings Inc. (NYSE: CURV) reported a 2% increase in net sales for Q2 2022, totaling $340.9 million, following a 34% growth last year. Gross profit margin fell significantly to 34.9% from 45.0% due to higher discounts and increased product costs. Net income decreased to $22.7 million or $0.22 per share, down from $38.8 million last year. The company anticipates Q3 net sales between $290 million and $305 million and adjusted EBITDA of $32 million to $38 million amidst ongoing macro challenges.