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Why Shares of Torrid Holdings Are Falling After the Market Closes？

Skylar Williams

Sep 08, 2022 11:18

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After-hours trading on Wednesday is negative for Torrid Holdings Inc (NYSE: CURV) following the release of mixed financial results and below-consensus projections.


Benzinga Pro reports that Torrid Holdings' second-quarter revenue increased 2% year-over-year to $340.9 million, above the average analyst forecast of $370.7 million. Quarterly earnings of 22 cents per share were below the average analyst projection of 24 cents per share.


"In preparation for the second part of the year, our team made great progress on our priorities, including clearing out excess inventory and filling important leadership roles. Despite unanticipated headwinds caused by distribution platform changes throughout the quarter, we are now fully operational and producing higher throughput and capacity "The CEO of Torrid Holdings, Lisa Harper, noted.


Torrid predicts third-quarter revenue between $290 million and $305 million, compared to the consensus estimate of $306.8 million. As opposed to the consensus estimate of $1.31 billion, the company predicts yearly revenue of between $1.26 billion and $1.3 billion.


Torrid is a North American direct-to-consumer brand that distributes apparel, intimates, and accessories to women aged 25 to 40.


Why American Eagle Shares Are Falling After Hours: This is a retailing era without precedent.


The 52-week high for Torrid is $11.29 and the 52-week low is $3.70.


At the time of publication, the stock was trading at $4.65, down 13.41% in after-hours trading.

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