Torrid's Earnings: Expecting Another Drop

Torrid Holdings, the plus-size apparel retailer, is set to release their latest earnings results this Wednesday, following a disappointing performance in the previous quarter. Despite slightly beating revenue expectations, Torrid experienced a seven percent drop compared to the same time last year, and their overall outlook for the year was uninspiring. Analysts predict another decline in revenues, with a nine percent year-over-year drop to approximately $239.9 million, and a small adjusted loss of two cents per share. In contrast, other apparel retailers like Urban Outfitters and Gap have seen positive growth in revenues and stock prices. Torrids stock has seen a recent uptick, but analysts remain cautious due to their history of missing revenue forecasts. Despite this, the average analyst price target for Torrid is $2.72, significantly higher than its current share price of $1.43.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.