Torrid Holdings Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY26 net sales were $245.8M, slightly above guidance, with adjusted EBITDA at $17.6M. Comparable sales declined 1.7% but were up 1.2% excluding footwear. Store optimization, sub-brand growth, and marketing efficiency are driving improved performance and set the stage for positive comps in H2.
Fiscal Year 2026
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Delivered $1B in 2025 sales and exceeded EBITDA guidance, driven by channel optimization, sub-brand growth, and disciplined cost management. 2026 focus is on customer file growth, with margin expansion and further store optimization planned.
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Q3 sales declined to $235M with an 8.3% comp drop, driven by missteps in tops and a footwear pause. Store optimization and cost reductions are on track, with EBITDA margin expansion expected in 2026. Full-year sales guidance is $995M–$1.002B.
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Q2 FY25 net sales declined 7.7% year-over-year to $262.8 million, with adjusted EBITDA margin down to 8.2%. Up to 180 store closures and expanded sub-brands are expected to drive margin expansion and free cash flow in 2026, despite tariff and consumer headwinds.
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Q1 results met guidance with $266M in sales and $27.1M EBITDA, driven by strong sub-brand performance and digital growth. Up to 180 store closures planned for 2025, with minimal sales impact expected due to high customer retention and digital migration.
Fiscal Year 2025
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Q4 results exceeded expectations with strong sub-brand launches and improved cash flow. FY25 guidance is prudent amid macro uncertainty, with continued focus on product innovation, store optimization, and cost control. Sub-brands are driving younger customer growth.
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Third quarter sales declined due to lack of product newness and macro headwinds, but gross margin expanded and inventory was reduced. New sub-brands and merchandising leadership are expected to drive growth and margin improvement in 2025.
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Q2 sales and adjusted EBITDA reached the high end of guidance, with strong regular price comps and improved gross margin. Inventory was down 19% year-over-year, and the company ended with $54 million in cash. Store optimization and product innovation are expected to drive growth in the second half.
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Q1 2024 saw higher than expected Adjusted EBITDA and gross margin expansion, with net sales of $280 million and net income of $12.2 million. Inventory was down 17% year-over-year, and robust marketing and merchandising initiatives drove customer growth.