Torrid Holdings Inc. CURV
Torrid Holdings Inc. ("Torrid," "we," "us," "our," the "Company") is a direct-to-consumer brand in North America dedicated to offering a diverse assortment of stylish apparel, intimates, and accessories skillfully designed for curvy women. Specializing in sizes 10 to 30, our primary focus is on providing fashionable, comfortable, and affordable options that meet the unique needs of our customers. Our extensive collection features high quality merchandise, including tops, bottoms, denim, dresses, intimates, activewear, footwear, and accessories. Our products are exclusive to us, and each product is meticulously crafted to cater to the needs of the curvy woman, empowering her to love the way she looks and feels. Our collections are artfully curated to suit all aspects of our customers' lives, including casual weekends, work, dressy and special occasions. Understanding the importance of affordability, we aim to keep our prices reasonable without compromising on quality. This allows us to build a meaningful connection with our customers, distinguishing us from other brands that often overlook plus- and mid-size consumers. Our brand experience and product offerings establish us as a differentiated and reliable choice for plus- and mid-size customers, which we believe sets us apart in the market. We strive to be everything our customer needs in her closet, consistently delivering products that make her feel confident and stylish.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.00B | $1.10B | $1.15B | $1.29B | $1.30B | $984.2M | $1.04B | — |
| Cost of revenue | $652.1M | $690.3M | $746.0M | $828.6M | $759.8M | $643.2M | $640.9M | — |
| Gross profit | $348.0M | $413.5M | $406.0M | $459.5M | $537.4M | $341.0M | $396.1M | — |
| SG&A | $269.2M | $302.0M | $293.3M | $298.0M | $439.4M | $232.8M | $253.4M | — |
| Operating income | $21.4M | $57.2M | $57.1M | $101.6M | $45.4M | $56.8M | $77.0M | — |
| Interest expense | — | — | $39.2M | $29.7M | $29.5M | $21.3M | $16.5M | — |
| Pre-tax income | -$9.6M | $21.6M | $18.0M | $71.7M | $15.8M | $35.5M | $60.7M | — |
| Income tax | $2.5M | $5.3M | $6.4M | $21.5M | $45.8M | $11.0M | $18.8M | — |
| Net income | -$7.0M | $16.3M | $11.6M | $50.2M | -$29.9M | $24.5M | $41.9M | — |
| EPS, basic | -0.07 | 0.16 | 0.11 | 0.48 | -0.27 | 0.22 | 0.38 | — |
| EPS, diluted | -0.07 | 0.15 | 0.11 | 0.48 | -0.27 | 0.22 | 0.38 | — |
| Shares, diluted (wtd. avg.) | $101.4M | $105.7M | $104.4M | $104.5M | $109.9M | $110.0M | $110.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $20.0M | $48.5M | $12.1M | $13.9M | $29.3M | $123.2M | $29.0M | $9.4M |
| Inventory | $136.5M | $148.5M | $142.2M | $180.1M | $170.6M | $105.8M | — | — |
| Total current assets | $193.5M | $226.2M | $179.1M | $216.1M | $220.9M | $242.1M | — | — |
| Property, plant and equipment | $51.6M | $77.7M | $103.5M | $113.6M | $127.6M | $143.3M | — | — |
| Other intangibles | $8.4M | $8.4M | $8.4M | $8.4M | $8.4M | $8.4M | — | — |
| Total assets | $400.3M | $488.4M | $476.9M | $527.3M | $578.5M | $648.2M | — | — |
| Accounts payable | $56.8M | $72.4M | $46.2M | $76.2M | $77.4M | $70.9M | — | — |
| Short-term debt | $16.1M | $16.1M | $16.1M | $16.1M | $20.5M | $11.5M | — | — |
| Total current liabilities | $248.9M | $263.1M | $232.1M | $267.3M | $297.0M | $261.1M | — | — |
| Long-term debt | $256.3M | $272.4M | $288.6M | $304.7M | $320.8M | $193.4M | — | — |
| Total liabilities | $613.7M | $679.5M | $688.7M | $757.5M | $836.8M | $711.4M | — | — |
| Retained earnings | -$338.3M | -$331.3M | -$347.6M | -$359.2M | -$377.8M | -$74.6M | — | — |
| Total equity | -$213.4M | -$191.1M | -$211.7M | -$230.2M | -$258.3M | -$63.2M | -$95.5M | $126.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$13.0M | $77.4M | $42.8M | $53.3M | $121.2M | $151.8M | $99.1M | — |
| Depreciation and amortisation | $36.1M | $37.2M | $38.0M | $37.6M | $36.7M | $34.6M | $31.2M | — |
| Stock-based compensation | $5.2M | $7.6M | $8.0M | $10.0M | $159.8M | $7.8M | $12.0M | — |
| Capital expenditure | $8.9M | $14.4M | $26.0M | $23.4M | $17.6M | $11.6M | $26.3M | — |
| Investing cash flow | -$8.9M | -$14.4M | -$26.0M | -$23.4M | -$17.6M | -$11.6M | -$56.1M | — |
| Financing cash flow | -$7.2M | -$24.5M | -$18.5M | -$45.1M | -$197.8M | -$45.9M | -$23.3M | — |
| Buybacks | $20.1M | $0 | $0 | $31.7M | $23.4M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001792781-26-000021.
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