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Torrid (CURV) investor relations material
Torrid Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 FY25 net sales were $262.8 million, down 7.7% year-over-year, with comparable sales declining 6.9% and net income falling to $1.6 million from $8.3 million last year.
Adjusted EBITDA was $21.5 million (8.2% margin), down from $34.6 million (12.2% margin) year-over-year.
Strategic initiatives include expanding sub-brands, increased digital and influencer marketing, and a retail optimization plan with up to 180 store closures.
Sub-brands are expected to reach 25%-30% of assortment next year, supporting higher margins and customer engagement.
Store count reduced to 575 at quarter-end, with 59 closures year-to-date and up to 180 planned for FY25.
Financial highlights
Gross profit was $93.5 million (35.6% margin), down from $110.3 million (38.7% margin) year-over-year.
SG&A expenses improved by $6.3 million, now 26.8% of sales; marketing expenses decreased 1.5% to $12.8 million.
Net income was $1.6 million ($0.02/share), down from $8.3 million ($0.08/share) last year.
Cash and equivalents ended at $21.5 million; total liquidity was $111.7 million, with $288.4 million in debt.
Net cash used in operating activities for the first six months was $2.3 million, compared to $68.4 million provided last year.
Outlook and guidance
FY25 net sales expected between $1.015 billion and $1.030 billion; full-year adjusted EBITDA at $80–$90 million.
Q3 net sales guidance: $235–$245 million; Q3 adjusted EBITDA: $16–$21 million.
Up to 180 store closures planned to align with demand and sales channels.
Capital expenditures for FY25 projected at $10–$15 million, focused on digital, fulfillment, and technology.
Tariff impact estimated at $50 million, with $40 million mitigated and $10 million expected exposure.
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