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Jan. 10, 2022, 9:47 a.m. EST

Torrid Holdings shares sink after sales warning

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By Tonya Garcia

Torrid Holdings Inc. /zigman2/quotes/202460173/composite CURV -1.93% shares sank 16.5% in early Monday trading after the plus-size women's fashion retailer issued a sales warning for the fourth quarter. The company now expects sales in the range of $300 million to $305 million, down from previous guidance of $325 million to $335 million. The FactSet consensus is for $331.5 million. For the year, the company is guiding for sales in the range of $1.265 billion to $1.270 billion. The FactSet consensus is for $1.297 billion. "We had a strong start to our fourth quarter, however, the spread of the omicron variant negatively impacted performance largely due to labor challenges at both our distribution center and a portion of our stores," said Chief Executive Liz Muñoz in a statement. "While we are not a business heavily dependent on holiday sales, our Torrid cash event in January saw a negative impact from these factors." Muñoz called the challenges "largely transitory." Torrid shares began trading in July 2021. The stock has fallen 39.4% over the last three months while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.60% has gained 5.2% for the period.

/zigman2/quotes/202460173/composite
US : U.S.: NYSE
$ 5.09
-0.10 -1.93%
Volume: 211,789
May 24, 2022 12:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$548.03 million
Rev. per Employee
$619,871
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/zigman2/quotes/210599714/realtime
US : S&P US
3,910.30
-63.45 -1.60%
Volume: 1.06B
May 24, 2022 12:31p
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