Torrid Q4 net sales $301.2M (down 5.5%), Adj EBITDA beat; FY23 guidance soft; CMO resigns.

Torrid Holdings Inc.

2022-FY EPS reported $0.48 revenue$1,288,144,000

Q4 net sales $301.2M (-5.5% YoY); net loss $3.8M ($0.04 loss/share); Adj EBITDA $16.4M, above guidance range.
Full year net sales $1,288.1M (-0.7% YoY); net income $50.2M ($0.48 EPS); Adj EBITDA $152.3M vs $245.9M prior year.
FY2023 guidance: net sales $1,265-1,320M; Adj EBITDA $140-152M; capex $40-45M with 30-40 new stores.
Chief Merchandising and Product Officer Anne Stephenson resigned effective March 23, 2023; no replacement named.
Q4 gross margin 31.9% (down 70bps); active customers up 2% to 3.9M; average spend per customer down 3%.

item 2.02 item 5.02 item 9.01

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Departed

Anne Stephenson

Chief Merchandising and Product Officer

CURV · Torrid Holdings Inc.

Effective: 2023-03-23
Filed: March 23, 2023, 7:59 PM ET

On March 17, 2023, Ms. Anne Stephenson resigned from her position as Chief Merchandising and Product Officer of the Company effective as of March 23, 2023.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Torrid Holdings Inc. reported the full year of fiscal 2022 results: revenue $1,288.1 million, net income $50.2 million, EPS $0.48 per share. Guidance initiated.

Period: the full year of fiscal 2022
Revenue: $1,288.1 million
Net income: $50.2 million
EPS: $0.48 per share
Guidance: initiated
Result: reported results

Exact text from the filing

Net sales decreased 0.7% to $1,288.1 million compared to last fiscal year. Comparable sales 2 decreased 3.4% compared to last fiscal year. · Gross profit margin was 35.7% compared to 41.4% last fiscal year. · Net income was $50.2 million, or $0.48 per share, compared to net loss of $29.9 million, or a loss of $0.27 per share last fiscal year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Torrid Holdings Inc. reported the fourth quarter of fiscal year 2022 results: revenue $301.2 million, net income $3.8 million, EPS $0.04 per share. Guidance initiated.

Period: the fourth quarter of fiscal year 2022
Revenue: $301.2 million
Net income: $3.8 million
EPS: $0.04 per share
Guidance: initiated
Result: reported results

Exact text from the filing

Net sales decreased 5.5% to $301.2 million compared to the fourth quarter of last year. Comparable sales 2 decreased 5.4% in the fourth quarter. · Gross profit margin was 31.9% and declined 70bps compared to 32.6% in the fourth quarter of last year. The decline was primarily driven by promotional events and higher inflationary costs, partially offset by higher royalties, profit-sharing and marketing and promotional funds we received associated with our private label credit card. · Net loss was $3.8 million, or a loss of $0.04 per share, compared to net loss of $22.8 million, or a loss of $0.21 per share in the fourth quarter of last year.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Anne Stephenson resigned as Chief Merchandising and Product Officer at Torrid Holdings Inc..

Action: resigned
Role: Chief Merchandising and Product Officer

Exact text from the filing

On March 17, 2023, Ms. Anne Stephenson resigned from her position as Chief Merchandising and Product Officer of the Company effective as of March 23, 2023.

View on SEC.gov

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Source: SEC EDGAR

accession 0001628280-23-009015

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