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Wednesday, May 31, 2023

Here’s the Reason Why Torrid Holdings Inc. (CURV) Stock is Tumbling in Aftermarket

Torrid Holdings Inc. (CURV), a holding company for Torrid Parent Inc. that operates in the women’s plus-size apparel and intimates market, has plummeted 24.92% in aftermarket trading session. As a result, CURV stock is trading at $11.75 at the time of the writing. On Wednesday, CURV declined 5.84% during the regular trading session and closed the day at $15.65. The continuous decline could be attributed to the announcement of quarterly results.

CURV Q3 2021 Operational Results

On Wednesday, CURV released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th October 2021. The company generated net sales of $306.2 million during the quarter against $270.1 million for the same quarter of 2020. The company generated an income of $43.7 million from the operations against $14.7 million for the same period of 2020. The company suffered a net loss of $58.9 million during the quarter against the net income of $4.2 million for the same period of 2020. The net loss per basic and diluted share for the three months stood at $0.54 against the net income of $0.04 for the same period of 2020.

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Financial Guidance for FY 2021

CURV also released the financial guidance for fiscal 2021. The company expects the net sales to stand between $1.29 billion to $1.30 during fiscal 2021. The adjusted EBITDA is expected to lie between $252 million to $257 million during the 12 months. With regards to capital expenditures, the company expects them to stand at approximately $23 million. That could reflect about 23 new stores for the year.

Executive Commentary

George Wehlitz, Chief Financial Officer of CURV, while commenting on the results said that the company is pleased with its quarterly performance. The performance demonstrated the underlying strength of the company’s brand and operating model. The company expects the global supply chain challenges to remain persistent during the upcoming quarter as well, which could impact the performance of the company.

Future Outlook for CURV

The last three months have seen CURV stock decline by more than 35%. However, more recent results have proven to be good with regards to the performance of the company. Based on those, potential investors should keep a close eye on the performance of the stock in the near future.

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