Torrid Q3 net sales down 4.2% to $263.8M; guides Q4 Adjusted EBITDA $9-15M

Torrid Holdings Inc.

2024-Q3 EPS reported $0.18 revenue$828,175,000

Comparable sales fell 6.5% YoY; net loss narrowed to $1.2M from $2.7M.
Gross margin expanded 285 bps to 36.1% on lower product costs and higher full-price mix.
Adjusted EBITDA $19.6M (7.4% of sales) vs $19.4M (7.0%) last year.
Q4 outlook: net sales $255-270M, Adjusted EBITDA $9-15M; full year net sales $1.083-1.098B.
Store optimization: plan to open 12-16 and close 30-40 stores in fiscal 2024.

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