Torrid Holdings, Inc. (CURV)

Torrid Holdings' stock price has experienced a significant decline over the past year. Key events impacting the stock in the past six months include Q1 Fiscal 2025 earnings, where net sales decreased by 5.3% year-over-year, and the company announced plans to accelerate store fleet optimization. In Q2 Fiscal 2025 earnings, net sales decreased, though slightly exceeding analyst estimates, and the company repurchased approximately 6 million shares of common stock. Analysts have a consensus "Hold" rating for Torrid Holdings, with an average target price of $2.72.

Demand for Torrid Holdings' products can be characterized by "choppy customer behavior" and seasonal demand arriving later than anticipated. The company plans to maintain its historical cadence of major promotional events and increased marketing investments earlier in the year to support sub-brand momentum.

Torrid Holdings, Inc. (CURV) is a direct-to-consumer specialty retailer focusing on apparel, intimates, and accessories for curvy women in North America, operating within the Consumer Discretionary sector, specifically in the Apparel Retail industry. Torrid designs, develops, and merchandises its products under brand names such as Torrid, Torrid Curve, CURV, and Lovesick, offering a broad assortment of products catering to women sizes 10 to 30.

Torrid Holdings, Inc. has a significant market presence across the United States, Puerto Rico, and Canada, utilizing an omnichannel approach through its e-commerce platform and over 600 physical stores. Online demand has been consistently outpacing physical store sales, approaching 70% of total sales, with expectations to reach 75% online and 25% in-store in the long term.

Torrid has built its reputation on offering trend-driven apparel and accessories for plus-size women, emphasizing body positivity and inclusivity. The company fosters customer community and engagement through partnerships with influencers, styling events, and an active social media presence. Torrid has focused on expanding its product offerings through new sub-brands, which have driven significant customer engagement. However, the company acknowledged shortcomings in its fall core collection, citing a "lack of 'newness and novelty'". Customer retention trends from store closures in 2025 have been outperforming fiscal 2024, with a greater share of customers migrating to the online platform.

Torrid Holdings Inc. has significant institutional ownership, with major institutional shareholders including Sycamore Partners Management, L.P., Fund 1 Investments, LLC, and Nomura Holdings Inc. Individual insiders hold 9.64% of the company's shares, while hedge funds hold 9.9% and VC/PE firms hold 58.8%. In the past three months, company insiders have sold more shares than they have bought.