Torrid Q2 net sales $284.6M (-1.6% YoY); adjusted EBITDA $34.6M above guidance

Torrid Holdings Inc.

2024-Q2 EPS reported $0.19 revenue$564,409,000

Net sales $284.6M, down 1.6% YoY; comparable sales -0.8%, but regular price comps +6.4%.
Gross margin expanded 323bps to 38.7% on lower product costs and higher full-price mix.
Net income $8.3M ($0.08 EPS) vs $6.6M; adjusted EBITDA $34.6M (12.2% of sales) vs $32.2M.
Inventory down 19% YoY; cash $53.9M; liquidity $153.8M.
Q3 guidance: net sales $280-285M, adj. EBITDA $23-26M. FY24: net sales $1.135-1.145B, adj. EBITDA $110-116M.

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