Torrid reports results for the second quarter of fiscal 2024

Torrid Holdings Inc. (“Torrid” or the “Company”) (NYSE: CURV), a North American direct-to-consumer apparel, intimates and accessories brand for women in sizes 10-30, today announced its financial results for the quarter ended August 3, 2024.

Lisa Harper, Chief Executive Officer, said: “We are very pleased with our second quarter performance, which was at the high end of revenue guidance and exceeded our adjusted EBITDA expectations. Customers are responding to our new product offerings, resulting in sales at regular prices.⁽²⁾ Growth of 6.4% and gross margin expansion of 323 basis points. We ended the quarter with $54 million in cash and cash equivalents as we continue to tightly manage our inventory levels, which were down 19% year over year, resulting in a $35 million increase in total cash. We believe we are at an inflection point in the business and are well positioned to build on the success we achieved in the first half of the year. We expect to deliver positive low-single-digit comparable store sales in the second half of the year, driven by higher full-price sales as our markdowns normalize.”