Torrid Holdings Inc.

CURV: 10-Q · periodic report

Torrid Holdings reported Q2 fiscal 2026 net sales of $231.7 million, down 11.8% from $262.8 million a year earlier, with comparable sales down 6.3%. Net income rose to $5.2 million, or $0.05 per diluted share, from $1.6 million, or $0.02 per share, in the prior-year quarter. The profit improvement was driven largely by one-time IEEPA tariff refunds: the company disclosed that net income and Adjusted EBITDA were each benefited by $11.1 million during the quarter, meaning underlying profitability excluding the refund was materially weaker. Adjusted EBITDA was $23.3 million versus $21.5 million a year ago, and first-half Adjusted EBITDA declined to $40.9 million from $48.7 million. Torrid completed its retail store optimization program with six closures in the quarter, ending at 457 stores, down 118 stores or 20.5% year over year. The company ended the period with $22.0 million in cash against $304.0 million of debt and a $205.8 million stockholders' deficit, while first-half operating cash flow swung positive to $10.1 million from a $2.3 million outflow a year ago. In a subsequent event, Sycamore Partners completed the sale of Hot Topic to Spencer Spirit Holdings on September 2, 2026, ending that related-party relationship. Torrid said its services agreement with Hot Topic remains in place and it does not expect the sale to have a material impact on its business, financial condition, results of operations, or cash flows.

SEC 10-Q•1mo ago

Torrid Reports Second Quarter 2026 Results and Updates Fiscal 2026 Guidance

Torrid's Q2 fiscal 2026 net sales fell 11.8% year over year to $231.7 million with comparable sales down 6.3%, landing within guidance. Net income was $5.2 million ($0.05 per share) versus $1.6 million a year ago. Adjusted EBITDA of $23.3 million (10.0% of sales) includes an $11.1 million IEEPA tariff refund recorded in cost of goods sold; excluding it, Adjusted EBITDA was $12.1 million (5.2% of sales) and gross margin was 33.9% rather than the reported 38.7%. CEO Lisa Harper said sales trends improved meaningfully through the quarter, with July an inflection point, but the full-year raise to $940-$960 million in sales and $76-$86 million in Adjusted EBITDA only folds in the tariff refund — the underlying outlook is unchanged. The company ended the quarter with $22.0 million in cash and $74.4 million of total liquidity, closing 6 stores to end at 457 locations versus 575 a year ago.

•1mo ago

Torrid Reports First Quarter 2026 Results and Fiscal 2026 Guidance

Torrid reported Q1 net sales of $245.8 million and adjusted EBITDA of $17.6 million, both exceeding internal guidance ranges despite a 7.6% year-over-year decline in revenue. Net income fell sharply to $0.4 million from $5.9 million in the prior-year period, with diluted earnings per share dropping to $0.00. Comparable sales decreased 1.7% during the quarter, while gross profit margins contracted to 35.3% from 38.1% a year ago. The company continued its store optimization program, closing 20 stores to end the quarter with 463 locations compared to 632 at the end of the prior-year quarter. For the full fiscal year 2026, the company projects net sales between $940 million and $960 million and adjusted EBITDA between $65 million and $75 million. Management cited AI-powered marketing and a year-round Casting Call platform as key initiatives to drive customer acquisition in the back half of the year.

•4mo ago