Torrid
Designs and sells trend-driven apparel and intimates for women wearing sizes 10 to 30.
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Profile
Designs, merchandises, and sells women's plus- and mid-size apparel, intimates, and accessories in sizes 10 to 30 through owned stores and e-commerce, with digital driving the majority of demand. A private-equity sponsor that acquired the brand's original corporate parent controls a majority of voting power and can nominate most of the board.
Started in 2001 as a plus-size concept inside mall retailer Hot Topic, the business now designs and sells women's apparel and intimates in sizes 10 to 30, nearly all developed in-house under the core Torrid and Torrid Curve marks alongside newer sub-brands aimed at younger, trend-focused shoppers.
Operations run as one unified e-commerce and store network across the United States, Puerto Rico, and Canada, with online orders now driving most demand as the company closes a large share of its mall locations.
A private-equity firm that took the brand's original parent private controls a majority of voting power and can nominate most of the board, having sold down part of its stake through public offerings since the 2021 listing. Net sales have declined for three straight fiscal years.
Company facts
Categories
Key statistics
Year to date +115% · Average volume (30d) 223.0K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 6, 2026 | Morgan Stanley | Target | $1.01 | $1.80 | ||
| Dec 4, 2025 | Morgan Stanley | Target | $1.60 | $1.01 | ||
| Dec 4, 2025 | Telsey Advisory | Target | $6 | $2 | ||
| Oct 24, 2025 | William Blair | Downgrade | Outperform | Market Perform | ||
| Sep 18, 2025 | Morgan Stanley | Reiterate | Underweight | $5 | $1.60 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 4, 2026Q1 FY26 | −$0.02 | $0.00 | +120.8% | $239.9M | $245.8M | +2.5% | +17.99% |
| Mar 19, 2026Q4 FY25 | −$0.12 | −$0.08 | +33.3% | $231.1M | $236.2M | +2.2% | +28.00% |
| Dec 3, 2025Q3 FY25 | −$0.01 | −$0.06 | −500.0% | $231.1M | $235.2M | +1.7% | −13.74% |
| Sep 4, 2025Q2 FY25 | $0.04 | $0.02 | −50.0% | $257.0M | $262.8M | +2.2% | −25.21% |
Financial highlights
| 12 quarters | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $275.6M | $266.0M | $262.8M | $235.2M | $236.2M | $245.8M | |
| Gross profit | $92.6M | $101.4M | $93.5M | $82.2M | $70.9M | $86.8M | |
| Operating income | $3.5M | $16.0M | $10.2M | $205.0K | −$5.0M | $8.6M | |
| Net income | −$3.0M | $5.9M | $1.6M | −$6.4M | −$8.1M | $414.0K | |
| Diluted EPS | −$0.03 | $0.06 | $0.02 | −$0.06 | −$0.08 | $0.00 | |
| Gross margin | 33.6% | 38.1% | 35.6% | 34.9% | 30.0% | 35.3% | |
| Operating margin | 1.3% | 6.0% | 3.9% | 0.1% | -2.1% | 3.5% |
Fiscal years (4-quarter sums)FY21 $1.28B · FY22 $1.30B · FY23 $1.15B · FY24 $1.11B · FY25 $1.00B
Revenue by product · Q1 FY26
Balance sheet, May 2, 2026Cash & short-term investments $22.8M · Total debt $425.2M · Total assets $402.5M · Shareholders' equity −$211.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 99.52M · Float 34.18M · 34.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Sycamore Partners Management, L.P. | 58.30M | 58.58% | 13F | May 21, 2026 |
| Fund 1 Investments, LLC | 9.73M | 9.77% | 13F | May 15, 2026 |
| Nomura Holdings Inc | 5.58M | 5.61% | 13F | May 15, 2026 |
| Lisa M. Harper · director, officer: Chief Executive Officer | 5.42M | 5.45% | Form 4 | May 7, 2026 |
| Healthcare of Ontario Pension Plan Trust Fund | 2.00M | 2.01% | 13F | May 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 16, 2026 | Chinwe Abaelu | officer: See Remarks | −25,401 | $2.17 |
| Apr 14, 2026 | Paula Dempsey | officer: Chief Financial Officer | −42,785 | $2.06 |
| Apr 13, 2026 | Ashlee Wheeler | officer: Chief Commercial Officer | −30,013 | $1.98 |
| Dec 3, 2025 | Fund 1 Investments, LLC | 10 percent owner | −25,000 | $1.31 |
| Sep 23, 2025 | Paula Dempsey | officer: Chief Financial Officer | −26,000 | $1.76 |
Peers
- Victoria's Secret
Core intimates rival gaining share via inclusive-sizing Adore Me deal
- Macy's
National department store carrying a broad multi-brand plus-size assortment
- American Eagle Outfitters
Aerie brand contests intimates and loungewear with inclusive-sizing marketing
- Gap
Old Navy's size 0-30 range competes on trend apparel at mass-market prices
- Kohl's
Mid-tier department store with size-inclusive private-label plus lines
- Abercrombie & Fitch
Gilly Hicks intimates brand targets the same younger, size-inclusive shopper
- Burlington Stores
Off-price plus-size selection undercuts on price for the value-driven shopper
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Torrid | $2.28 | 0.00% | $226.9M | — | — | 0.2 | −7.6% |
| Victoria's Secret | $91.51 | +2.58% | $7.27B | 37.5 | 18.7 | 1.1 | +15.3% |
| Macy's | $22.07 | +0.27% | $5.79B | 9.1 | 9.7 | 0.3 | −2.3% |
| American Eagle Outfitters | $16.91 | +0.30% | $2.83B | 10.4 | 9.5 | 0.5 | +9.7% |
| Gap | $23.48 | −0.04% | $8.45B | 7.1 | 9.8 | 0.6 | −2.0% |
| Kohl's | $17.49 | −0.02% | $1.98B | 7.5 | 12.4 | 0.1 | −6.4% |
| Abercrombie & Fitch | $148.54 | +0.09% | $6.59B | 12.7 | 12.3 | 1.2 | +4.8% |
| Burlington Stores | $273.28 | +0.08% | $17.18B | 24.5 | 22.0 | 1.4 | +10.9% |
| Median | 10.4 | 12.3 | 0.6 | +4.8% |