Torrid lowers Q2 FY2022 guidance; appoints Tim Martin as COO/CFO and Hyon Park as CTO

Torrid Holdings Inc.

2022-Q2 EPS reported $0.44 revenue$669,285,000

Net sales guidance cut to $335-340M from $350-360M; Adjusted EBITDA guidance cut to $49-51M from $53-58M.
Tim Martin (ex-Guitar Center CFO) appointed COO/CFO effective Sept. 12; $800K base salary, 80% target bonus, $3M equity award.
Michael Salmon transitions to Chief Strategy Officer; Chinwe Abaelu remains CAO; Tanner MacDiarmid ends interim CFO role.
Store traffic slowed in July; shipping disruptions from distribution platform upgrade caused unanticipated headwinds; inventory now balanced.
Hyon Park named CTO from Belk; leads IT, software, security, and business intelligence.

item 2.02 item 5.02 item 2.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Michael Salmon

Chief Strategy Officer

CURV · Torrid Holdings Inc.

Effective: 2022-09-12
Filed: August 3, 2022, 7:59 PM ET

Michael Salmon will voluntarily transition to the newly created role of Chief Strategy Officer of the Company

Appointed

Tim O. Martin

Chief Operating Officer and Chief Financial Officer

CURV · Torrid Holdings Inc.

Effective: 2022-09-12
Filed: August 3, 2022, 7:59 PM ET

On August 3, 2022, the Company announced that Tim O. Martin, 53, will join the Company and be appointed as the Chief Operating Officer and Chief Financial Officer of the Company, effective as of September 12, 2022 (the “Effective Date”).

Departed (interim)

Tanner MacDiarmid

Interim Chief Financial Officer

CURV · Torrid Holdings Inc.

Effective: 2022-09-12
Successor: Tim O. Martin
Filed: August 3, 2022, 7:59 PM ET

Tanner MacDiarmid will cease to serve as the Interim Chief Financial Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Michael Salmon changed role as Chief Strategy Officer at Torrid Holdings Inc..

Action: transitioned
Role: Chief Strategy Officer

Exact text from the filing

Michael Salmon will voluntarily transition to the newly created role of Chief Strategy Officer of the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Tim O. Martin was appointed as Chief Operating Officer and Chief Financial Officer at Torrid Holdings Inc..

Action: appointed
Role: Chief Operating Officer and Chief Financial Officer

Exact text from the filing

On August 3, 2022, the Company announced that Tim O. Martin, 53, will join the Company and be appointed as the Chief Operating Officer and Chief Financial Officer of the Company, effective as of September 12, 2022 (the “Effective Date”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Tanner MacDiarmid departed as Interim Chief Financial Officer at Torrid Holdings Inc..

Action: ceased to serve
Role: Interim Chief Financial Officer

Exact text from the filing

Tanner MacDiarmid will cease to serve as the Interim Chief Financial Officer of the Company.

View on SEC.gov

Torrid Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001628280-22-020682

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