CURV

Image source: The Motley Fool. Thursday, Sept. 3, 2026 at 4:30 p.m. ET Investor Relations - Chinwe Abaelu Chief Executive Officer - Lisa Harper Chief Commercial Officer - Ashlee Wheeler Chief Financial Officer - Paula Dempsey Operator: Greetings. Welcome to the Torrid Holdings Inc. Second Quarter Fiscal Year 2026 Earnings Conference Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Chinwe Abaelu. Please begin. Chinwe Abaelu: Good afternoon, everyone, and thank you for joining Torrid's call today to discuss our financial results for the second quarter of fiscal 2026, which we released this afternoon and can be found on our website at investors.torrid.com. With me on the call today are Lisa Harper, Chief Executive Officer of Torrid, Ashlee Wheeler, our Chief Commercial Officer, and Paula Dempsey, the Chief Financial Officer. Before we get started, I would like to remind you of the company's Safe Harbor language, which I'm sure you're familiar with. Management may make forward-looking statements including guidance and underlying assumptions. Forward-looking statements may include, but are not limited to, statements containing the words expect, believe, plan, anticipate, will, may, should, estimate and other words and terms of similar meaning. All forward-looking statements are based on current expectations and assumptions as of today, September 3, 2026. These statements are subject to risks and uncertainties that could cause actual results to differ materially. For further discussion of risks related to our business, see our filings with the SEC. With that, I'll turn it over to Lisa. Lisa Harper: Thank you, Chinwe. Good afternoon, everyone, and thank you for joining us today as we discuss Torrid's financial results for the second quarter of fiscal 2026. With me on today's call are Ashlee Wheeler, our Chief Commercial Officer, and Paula Dempsey, our Chief Financial Officer. On today's call, I will review our second quarter performance, including the meaningful improvement we saw in the business as the quarter progressed, and I will share an update on our primary focus for 2026, which is customer file growth through acquisition, reactivation, and retention. Ashlee will then share a detailed update on the marketing initiatives driving that progress, and Paula will close with the financials and our outlook for the remainder of the year. For the second quarter, we reported net sales of $231.7 million and adjusted EBITDA of $23.3 million or $12.1 million, excluding the tariff refund benefit, in line with our guidance range. We are encouraged by the underlying trends we are seeing in the business and are maintaining our full-year outlook while raising our reported guidance to reflect the tariff refunds received to date. This performance follows the transformative work completed in 2025 across channel optimization and assortment and pricing architecture. The disciplined execution of the business, underpinned by our 2026 Customer Growth Agenda, is beginning to pay off, setting the stage for a return to comparable sales growth in the back half of the year and beyond. Total company comparable sales declined 6.3% in Q2. I want to spend a moment on the shape of the quarter because the headline number does not tell the full story. June was a genuinely difficult month for us, and we know we are not alone in that experience. The macro backdrop in June was challenging with elevated gas prices and other seasonal factors weighing in on discretionary spending. As I mentioned, the encouraging news is that the business meaningfully improved as the quarter progressed. July marked a significant pivot. We are seeing positive consistent improvement in customer reactivation, customer acquisition, and virtually every marketing channel we operate, along with momentum from our Casting Call events, which we relaunched nationwide on July 2. Based on what we've seen so far in July and August, we believe the back half of the year is aligned with the trajectory we have been planning. Looking at category performance in Q2, we saw overall strength in knits and shorts. Dresses, driven by the combination of mainline Torrid and sub-brands, active, graphic tees, all showed positive momentum. I'm pleased with the course corrections we've made from both the design and the assortment balance perspective. We have also reintroduced the concept of Super Soft into our knit dressing, pairing a base knit with fashion items that change the end use of the product and create a versatile lifestyle-driven dressing occasion. The customer response to the Super Soft fabric and product has been very positive, and it's a category we expect to continue growing and expanding. As we discussed previously, our restructured footwear sourcing strategy and assortment mix had created a first half comp headwind, and we are encouraged to see that headwind resolving. Footwear is performing ahead of our expectations and is also providing a nice tailwind from a margin and revenue standpoint as we enter the second half. Turning to our sub-brand portfolio, performance continues to accelerate. Festi remains our strongest performing sub-brand, but we are seeing growing parity across the rest of the portfolio. We are also pleased to see LoveSick return to growth as it begins the anniversary of its launch. Within TRU, our activewear concept, we have leaned further into a leisure aesthetic and introduced opening price point fleece into the assortment. Our sub-brand platform, built to scale, is delivering strong results with significant runway for growth. Year-to-date, sub-brands have delivered year-over-year growth of approximately 74%, and we remain on track to reach $110 million in 2026, which is 60% growth over 2025, and will represent approximately 12% of total net sales compared to 7% last year. Turning briefly to our opening price point strategy, performance continues to meet our expectations, supporting both conversion and basket growth. OPP now represents approximately 35% of our overall assortment and is strategically represented across all major apparel categories, supported by a cost-engineered sourcing model which yields healthy product margins. This quarter, we also introduced a new category we call internally Fashion at a Price, positioned as an accessible mid-tier price point, which is currently showing success in denim, fashion knits, woven tops, and sweaters. We're pleased to share that we've expanded our presence on third-party marketplaces. We're now live on Macy's since mid-July and have recently gone live on Target, and we'll go live with Walmart later this year. In each case, we operate on a model where we own and fulfill our own inventory. Marketplaces remain a relatively small part of our business today, but we see them as highly incremental as many of the customers we're reaching are new to file, reinforcing our belief that these partnerships support our broader customer acquisition strategy. As I mentioned on our Q1 call, we substantially completed our store optimization program. To date, we've closed an additional 6 structurally unproductive locations, bringing the total to 177 closures since we initiated the program. Customer retention through this transition has remained strong, with our marketing efforts successfully redirecting traffic both online and to nearby stores. Equally important, the cost savings generated by the closure program are being reinvested directly and strategically into the initiatives designed to reignite growth in the customer file. We entered 2026 with a singular objective, to grow our customer file through acquisition, reactivation, and retention. The marketing team, led by Ashlee, is the primary engine behind the progress, which she will speak to shortly. In summary, the trends we saw play out this quarter reinforce our 2026 strategy. Business meaningfully strengthened as the quarter progressed, with July marking a clear inflection point. Our customers are responding to the course corrections we've made in assortment and design, and the categories that weighed on us last year are now contributing to growth again. Our business model is built to compound this momentum. Opening price point continues to deliver the values she's looking for. Our sub-brand portfolio is scaling ahead of plan. And our expanding marketplace presence is bringing new customers to the file. At the same time, the discipline we've shown in store optimization is freeing up capital to reinvest directly into acquisition, reactivation, and retention, all key drivers to our future success. In short, the foundation we built is translating into real momentum, and we're confident it sets us up for a return to comparable sales growth in the back half of this year and beyond. Now let me pass it to Ashlee for a detailed update on the team's marketing and customer growth progress. Ashlee Wheeler: Thank you, Lisa. The second quarter, particularly July, was the pivot point we've been building toward all year, and I'm glad to walk through what's underneath it. As we've shared previously, the growth and improved quality of our customer file is our primary initiative for this year. With our product assortments modernized, sub-brand scaling, pricing architecture and channels optimized, and a brand positioning and mission consistently clear, what was needed was a structural rebuilding of our marketing engine. I will cover where that rebuild stands and the progress we are seeing. Comparable sales inflected positively in July, with all 11 of our marketing channels improving sequentially, and momentum has continued into August. When we look at our marketing channels cumulatively over the past few years, we dramatically shifted performance from double-digit declines to growth in marketing attributable revenue beginning in July. We saw year-over-year digital customer growth in both July and August. This is the direct result of a systematic, channel-by-channel rebuilding of a commercial marketing engine with clear discipline, ROAS accountability, a structured test cadence, and marketing spend that must earn its return before it scales. We now run the business through standardized KPIs, real-time dashboards, and structured commercial business reviews. We've also invested in talent to sustain it, adding a new SVP of Performance Marketing, a VP of Customer and Loyalty, and a Senior Director of CRM and Owned Customer Messaging. A very experienced team with backgrounds spanning Marc Jacobs, Victoria's Secret, Kohl's, and Claire's. Paid media is the clearest proof point that discipline and growth are not in tension. In the second quarter, we saw double-digit growth in paid revenue on significantly less spend than a year ago, resulting in meaningful ROAS expansion year-over-year. Paid revenue now represents 12% of digital revenue, up from 9% a year ago. Heading into the back half, we're reallocating a portion of our marketing investments to increase digital spend by roughly $1 million versus our original plan, still down 16% to last year compared to a 35% reduction in the first half, and directing it toward reactivation and prospecting, including paid social, product listing ads, and non-branded search. We also have a dedicated Festi media plan launching September 25 to accelerate the growth of our leading sub-brand. Lastly, we've completed the build of an internally developed media mix model that will be used in concert with the expertise of our digital agency to further optimize and maximize our paid media investments for the greatest return in revenue and customer file growth. We will begin to leverage this model to inform and refine our paid media strategy in the fourth quarter of this year. Turning to search and AI discoverability, one of the areas we found immense opportunity was organic search. Revenue in this channel had eroded over the past several years, and that decline was structural. We've built a 5-pillar plan, expanding product content, category authority, knowledge content, technical discovery infrastructure and AI visibility, and we're already seeing it work. Organic revenue has been positive year-over-year since June. Our average search ranking has improved over 3x and AI overview impressions are up meaningfully along with strong year over year organic search revenue growth. To put the scale of opportunity in context, we've lost a substantial share of organic revenue over the past few years. We're not going to recover that overnight, but our roadmap is explicit. Now that we've stopped the decline and are returning to growth, we will rebuild category authority and AI citation coverage over time. Turning to our mobile app, which is our fastest growing and most resilient digital channel. Total digital demand inflected positively in July, up low single digits to last year, and that was driven by our mobile app, which grew double digits year over year. We are placing significant emphasis on our mobile app, which converts approximately 7x the rate of our desktop and mobile web experiences. Push notifications delivered through the app have also proven meaningfully more productive than traditional email and SMS communications. Beginning in July, we made a concerted push to drive app engagement, including exclusive app offers and Casting Call activations that used QR codes to route customers to the app, and the results are encouraging. In July, we saw over 50,000 downloads, a significant lift from our monthly run rate. And app-generated revenue reached an all-time high of nearly 40% of digital revenue in the month, and that trend has continued into August as planned. We are rolling out additional enhanced mobile app capabilities in September, including in-app personalization and loyalty rewards visibility. We believe the mobile app will be a key lever as we head into the peak holiday season. Moving to CRM and Customer Journey. If there's one place I'd point you to for the size of the prize ahead of us, it's CRM and Customer Journey. 45% of our customers shop with us only once per year, and that group represents just 12% of our demand. The second trip more than doubles the 1-time buyer's value and getting a store-only shopper onto our mobile app or web channel, becoming an omni customer, more than quadruples their annual spend. We are going after that gap directly. We're increasing behavioral triggers by 5x to 20% of our email sends, and those triggers convert at roughly 7x the rate of a standard batch send. We're leveraging our rich data to build affinity and propensity models so that we can reach individual customers with personalized and segmented content to drive conversion and increase customer lifetime value. We've launched a dedicated second purchase journey built to capture a second sale in the most critical window of opportunity. We've layered in a lapse prevention and win-back series triggered by changes in shopping behavior, and we're introducing our credit card earlier in the new customer journey. Since private label credit card lifts spend among our insider loyalty tier, the segment most likely to be a 1-time shopper, by 1.7x. This work is just now taking flight, informed by a robust testing agenda, and we believe this will deliver significant revenue and productivity growth in our customer file. Across all of these initiatives, the common thread is a shift away from broad, undifferentiated marketing towards personalized, targeted engagement. This is about meeting a specific customer with a relevant message at the right moment, whether that is a follow-up after a recent purchase or an outreach delivered through the channel, and at the time of the day when she is most likely to engage. Finally, Casting Call. As Lisa mentioned, on July 2, we announced the relaunch of our nationwide Casting Call platform and I want to spend a moment on it because it is a good example of the kind of community-driven marketing we believe is core to our long-term growth. Casting Call has evolved well beyond a traditional model search. It is a platform for confidence, connection, and community, and it speaks directly to something we hear consistently from our customers. A recent proprietary survey we conducted found that more than 1 in 3 plus-size women still experience gaps across the shopping journey, including limited sizing and trend options, inconsistent in-store experiences, and a lack of authentic representation. A Casting Call is one of the most powerful ways we address that gap. This year's program included a Times Square activation in New York City to kick things off, in-person Casting Call events at malls across major U.S. cities, and in-store casting parties in select locations, alongside our continued partnership with Candice Huffine, who serves as our Casting Director and host. Several past winners also returned this year to support new applicants, appearing at live events and hosting virtual question-and-answer sessions. Applications opened on July 2 and will remain open through September of this year, with 3 winners ultimately becoming the new faces of Torrid. Casting Call continues to be one of the most powerful engines we have for building community and gathering authentic content. This Casting Call inverts the traditional influencer model entirely by investing in the women who have already chosen this brand at the highest level and letting their stories do the work, and it converts that community into our owned ecosystem. In 2024, Casting Call delivered 10,000 new and 14,000 reactivated customers, as well as a 9 percentage point gain in unaided brand awareness. So far, applications are trending 9% ahead of 2024, and we've seen 80% of this year's attendees join our loyalty program. Importantly, our social audience is growing. Social engagement was up double digits during the second quarter, and brand sentiment continues to improve as well. Our social listening reflects meaningfully more positive commentary, a sign that the content and platform is resonating. We believe this reflects both our improved product assortment and the growing resonance of the community we are building through programs like Casting Call. Lastly, I want to touch briefly on how we are using AI. AI and machine learning are integrated into many of our systems today across marketing, merchandising, assortment planning, and finance. And we also use AI internally as a strategic thought partner across the organization. Within marketing specifically, we are investing in making sure our brand is reachable, indexed, and accessible to large language models so that we are positioned for AI-powered shopping in a way we had not been previously. And we are already seeing early positive movement there. We are also using AI to accelerate dynamic content generation. We are still in the early innings of both efforts, but we see a tremendous opportunity leveraging AI for both customer engagement and marketing efficiency. To summarize, we entered this year with a clear view of the work required and we are executing against it with focus and conviction. Torrid's powerful brand positioning and mission have always been clear, but a structural rebuild of the marketing engine to support it was necessary, and that is our strategic focus. After several years of a contracting file size, we are poised for file growth, both in size and productivity in the back half of this year, with an increase in customers acquired, reactivated, and retained year over year. Our paid marketing channels have turned a corner and are highly productive and scaling. Our CRM and organic search and AEO work is still in its early stages but already contributing, and Casting Call continues to strengthen our community and brand affinity. Every channel, every investment, every activation is pointed at the same outcome: growing the customer file, deepening loyalty, increasing customer lifetime value, and making the business more commercially powerful than it has ever been. It is early, but we're doing what works, and we look forward to updating you on our next call. With that, I will turn the call over to Paula. Paula Dempsey: Thank you, Ashlee. Good afternoon, everyone, and thank you for joining us today. I'll start with a review of our second quarter results and then walk through our outlook for the balance of fiscal 2026. At a high level, we were pleased with how the quarter developed. Net sales results came in within our guidance range and adjusted EBITDA, excluding the tariff benefit, landed within our range as well. Just as important, our sales trends improved as the quarter progressed, and we returned to positive comparable sales in the month of July. We're encouraged by the direction of the business as we head into the back half. Net sales for the second quarter were $231.7 million compared to $262.8 million a year ago. Comparable sales were down 6.3%. As Lisa noted, footwear remained a headwind in the quarter, an impact of roughly 100 basis points to comparable sales. As we complete the resourcing of that assortment, we expect it to turn to a tailwind in the second half of the year. Gross profit was $89.7 million versus $93.5 million last year and gross margin was 38.7% compared to 35.6% a year ago. During the quarter, we recognized $11.1 million of IEEPA tariff refunds as a reduction in cost of goods sold. Excluding the benefit, gross margin was 33.9%, down 170 basis points from a year ago, primarily reflecting targeted promotions. SG&A expenses declined $8.6 million to $61.9 million, compared to $70.5 million a year ago, as we continue to realize savings from our store optimization program. As a percentage of net sales, SG&A was 26.7%. Marketing investments increased $0.5 million to $13.3 million, driven by strategic investments behind our Casting Call event and customer file growth initiatives as described by Ashlee earlier. Net income for the quarter was $5.2 million or $0.05 per share compared to net income of $1.6 million or $0.02 per share last year. Adjusted EBITDA was $23.3 million, a 10% margin versus $21.5 million or 8.2% a year ago. Excluding the tariff benefit, adjusted EBITDA was $12.1 million, or a 5.2% margin, which is within our guidance range. Turning to the balance sheet. We ended the quarter with $22 million in cash and cash equivalents and $39.7 million drawn on our revolving credit facility. We expect this to be the peak borrowing levels for the year. Total liquidity, including available borrowing capacity under the facility, was $74.4 million. We generated $10.1 million of cash from operations in the first half compared to a use of $2.3 million in the same period last year, reflecting tighter working capital discipline. Inventory totaled $125.6 million, down 3.6% from the second quarter of last year, reflecting both tighter receipt management and the intentional reduction of our store base. During the quarter, we closed 6 stores, ending the period with 457 stores compared to 575 stores a year ago, effectively completing our store optimization program. Customer retention rates through these closures remain in line with our expectations. Now to our outlook, which we have updated to reflect the tariff refund benefit we recognized in the second quarter. We remain on track to deliver approximately $40 million of expense savings in fiscal 2026 through our store optimization initiative. Through the first half, we have realized approximately $22 million of those savings. For the full year, we continue to project net sales of $940 million to $960 million. On adjusted EBITDA, we're raising our outlook to $76 million to $86 million, reflecting the $11.1 million tariff refund benefit recognized in the second quarter. Excluding that benefit, our outlook is unchanged at $65 million to $75 million, representing a margin expansion of up to 140 basis points versus fiscal 2025. We continue to expect marketing to be approximately 5.5% of sales as we invest behind customer acquisition and retention, including our Casting Call events. Our outlook assumes tariffs of 12% to 15% in the back half of the year and does not contemplate any further tariff volatility. For the third quarter, we expect net sales of $230 million to $235 million and adjusted EBITDA of $15 million to $20 million. Looking specifically at the fourth quarter, we expect EBITDA margin to improve compared to last year. On gross margin, we're benefiting from tariff rate normalization, ongoing sourcing initiatives, improved assortment and occupancy related to store optimization. We will continue to realize savings in SG&A from our store optimization program. In total, we would expect EBITDA margin improvement to be split roughly evenly, about half from gross margin expansion and half from SG&A leverage. As we move into the back half, we're encouraged by the trends we're seeing. The initiatives Ashlee outlined should drive customer file growth and combine with the return of footwear in the second half. We expect that to provide a tailwind to both sales and margins. On tariffs, during the second quarter, we received $11.4 million in IEEPA tariff benefits, $11.1 million recognized as a reduction in cost of goods sold, and $300,000 in interest income. As I noted, we have raised our full year adjusted EBITDA outlook to reflect this benefit as absorbed in COGS. We plan to file for an additional tranche of refunds, which we estimate at $1.5 million to $2.5 million. That amount is not yet included in our guidance and we will update you as the process advances. We expect capital expenditure of $8 million to $10 million. Roughly half is directed at elevating our store fleet through refreshes, and the remainder is primarily focused on marketing system improvements. In closing, we're encouraged by the improving sales trends we saw through the quarter, as our marketing builds awareness of the meaningful changes we have made to our assortment over the past year. Our sub-brands and opening price point initiatives continue to attract customers, both new and reactivated, while resonating with our existing ones. We believe these initiatives will continue to strengthen our performance and build long-term value for our shareholders. With that, we'll open the call to your questions. Operator: We will now be conducting a question and answer session. [Operator Instructions] Our first question is from Corey Tarlowe with Jefferies. Corey Tarlowe: First on the July inflection. Can you just talk a little bit more about what happened there? Maybe quantify what improved versus earlier in the quarter? Was it more traffic, conversion, AUR, or customer acquisition? I think just more color around the change and the drivers would be really appreciated. Ashlee Wheeler: Corey, so July inflected positively. It was both traffic and conversion, but really a function of all 11 of our marketing channels inflecting positive. So we saw material movement in a positive direction across all 11 marketing channels. We saw digital customer reactivation positive, low single digit positive. And that was really the turning point, as well as frequency within our active file improving. Corey Tarlowe: Got it. And then just on the gross margin. As you think about the puts and takes there, as you look to rebuild merchandise margins to 24 months, how should we be thinking about the opportunities there to continue to build on that? Lisa Harper: In the back half, I'll answer part of it and then Ashlee will fill in. The back half, particularly this year, obviously will have a benefit from tariff on a year-over-year basis. We also have improved sourcing in terms of cost of goods. So one of the benefits of the tariff situation was a more robust kind of activist sourcing strategy, multi-country sourcing strategy that has allowed us to, I think, refine our pricing, improve our pricing, as well as the introduction of OPP and what we mentioned about fashion at a price, which is kind of at moderate level. So from a cost of goods perspective, which will flow through, we feel, into margin at the back half. That's a benefit that we see being realized as we move forward into third and fourth quarter. Ashlee Wheeler: I would add, Corey, there's a compounding effect to customer acquisition and customer reactivation improving into the back half of the year. So we saw it inflect positively in July. We've seen that continued into August and our guidance contemplates acceleration of both of those in the back half of the year. As we continue to feed the file with new customers and reactivated customers, it relieves pressure on product margins from a discounting standpoint. And that is contemplated. Lisa Harper: And I'd highlight footwear, again, it has a high attachment rate as well as a high level of new customer acquisition for us. So I think as we are able to, and have been able to, reinvigorate and reintroduce that footwear business, that we're seeing the marketing channels benefit from that, but also there's been a margin, I think, pretty substantive margin improvement that's driven both from the attachment rate as well as the category in general. Operator: [Operator Instructions] Your next question comes from Brooke Roach with Goldman Sachs. Carly Chasen: This is Carly on for Brooke. You called out continued strength in the sub-brands. Are they becoming incrementally more positive as customer acquisition tools or are they primarily driving larger baskets and wallet share among existing customers? Ashlee Wheeler: To start, we saw expansion of wallet among existing customers, but we know that they are key to customer acquisition and reactivation, and even more so as we head into the back half of this year. As I mentioned in my prepared remarks, we have a dedicated Festi media plan that launches the 25th of this month. And that will be our first dedicated paid marketing campaign around Festi, which is our largest sub-brand, and the one that we think will be the most accretive in terms of new customer acquisition and reactivation. Operator: This now concludes our question-and-answer session. I would like to turn the floor back over to CEO, Lisa Harper, for closing comments. Lisa Harper: Thanks for joining us today. We look forward to keeping you updated on our progress. Operator: Ladies and gentlemen, thank you for your participation. This does conclude today's teleconference. Please disconnect your lines and have a wonderful day. Before you buy stock in Torrid, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Torrid wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $414,015!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,385,459!* Now, it’s worth noting Stock Advisor’s total average return is 960% — a market-crushing outperformance compared to 213% for the S&P 500. 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This article first appeared on GuruFocus. Net Sales: $231.7 million in Q2 fiscal 2026, compared to $262.8 million a year ago. Comparable Sales: Declined 6.3% in Q2, with a return to positive comparable sales in July. Gross Profit: $89.7 million, compared to $93.5 million last year. Gross Margin: 38.7%, up from 35.6% a year ago; excluding the tariff refund benefit, gross margin was 33.9%, down 170 basis points. SG&A Expenses: Declined $8.6 million to $61.9 million, compared to $70.5 million a year ago. Net Income: $5.2 million, or $0.05 per share, compared to $1.6 million, or $0.02 per share, last year. Adjusted EBITDA: $23.3 million (10% margin), versus $21.5 million (8.2% margin) a year ago; excluding the tariff benefit, adjusted EBITDA was $12.1 million (5.2% margin). Tariff Refund Benefit: Recognized $11.1 million in IEPA tariff refunds as a reduction in cost of goods sold. Cash and Cash Equivalents: $22 million at the end of the quarter. Inventory: $125.6 million, down 3.6% year over year. Store Count: Closed 6 stores in Q2, ending with 457 stores, compared to 575 stores a year ago. Sub-brand Growth: Year-to-date sub-brand sales grew approximately 74% year over year. Marketing Investment: Increased $0.5 million to $13.3 million in Q2. Warning! GuruFocus has detected 6 Warning Signs with CURV. Is CURV fairly valued? Test your thesis with our free DCF calculator. Release Date: September 03, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Torrid Holdings Inc (NYSE:CURV) returned to positive comparable sales in July, with all 11 marketing channels improving sequentially and momentum continuing into August. Sub-brand portfolio is scaling rapidly, with year-to-date growth of approximately 74% and on track to reach $110 million in 2026, representing 12% of total net sales. Paid media efficiency improved significantly, with double-digit growth in paid revenue on less spend, resulting in meaningful ROAS expansion and paid revenue now 12% of digital revenue. Mobile app is a key growth driver, with digital demand inflecting positively in July, app revenue reaching nearly 40% of digital revenue, and over 50,000 downloads in July alone. The company received $11.1 million in tariff refunds, raising full-year adjusted EBITDA outlook to $76-$86 million, while maintaining net sales guidance of $940-$960 million. Total company comparable sales declined 6.3% in Q2, with June being a particularly difficult month due to macro pressures like elevated gas prices. Gross margin, excluding tariff benefits, declined 170 basis points to 33.9%, primarily due to targeted promotions. Footwear remained a headwind in Q2, impacting comparable sales by roughly 100 basis points, though expected to turn to a tailwind in the second half. Net sales decreased to $231.7 million from $262.8 million a year ago, reflecting ongoing store closures and a challenging retail environment. The company ended the quarter with $39.7 million drawn on its revolving credit facility, though this is expected to be the peak borrowing level for the year. Q: Can you elaborate on the July inflection point, quantifying what improved versus earlier in the quarterwas it traffic, conversion, AUR, or customer acquisition?A: (Chinwe Abaelu, Chief Accounting Officer and SVP) The positive inflection in July was driven by both traffic and conversion, but was fundamentally a result of all 11 marketing channels turning positive. We saw material positive movement across all channels, with digital customer reactivation turning positive at a low single-digit rate. This was the key turning point, alongside improved purchase frequency within our active customer file. Q: How should we think about the opportunities to rebuild merchandise margins over the next 24 months, considering the puts and takes on gross margin?A: (Lisa Harper, CEO) In the back half, we will benefit from tariff normalization on a year-over-year basis and improved sourcing costs. The tariff situation led to a more robust, multi-country sourcing strategy that refined our pricing. The introduction of Opening Price Point (OPP) and "Fashion at a Price" also supports margins. (Ashlee Wheeler, Chief Planning Officer) There is a compounding effect from improved customer acquisition and reactivation, which relieves pressure on product margins from discounting. (Lisa Harper, CEO) Footwear is also a high-attachment category with strong new customer acquisition, contributing to substantive margin improvement. Q: Are sub-brands becoming incrementally more positive as customer acquisition tools, or are they primarily driving larger baskets and wallet share among existing customers?A: (Ashlee Wheeler, Chief Planning Officer) We initially saw expansion of wallet share among existing customers, but sub-brands are key to customer acquisition and reactivation, especially heading into the back half. We have a dedicated Festi media plan launching September 25, which will be our first dedicated paid marketing campaign for our largest sub-brand. We believe Festi will be the most accretive in terms of new customer acquisition and reactivation. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management characterized July as a significant pivot point where the business returned to positive comparable sales, following a macro-driven decline in June attributed to elevated gas prices and seasonal factors. The company successfully completed its store optimization program, closing 177 structurally unproductive locations to free up capital for direct reinvestment into customer acquisition and retention. Assortment course-corrections in knits, dresses, and the reintroduction of 'Super Soft' fabrics are driving positive customer response and lifestyle-driven dressing occasions. Footwear sourcing has been fully restructured, transitioning the category from a first-half comp headwind of 100 basis points to a projected margin and revenue tailwind for the second half. The sub-brand portfolio, led by Festi, grew 74% year-over-year and is on track to represent 12% of total net sales in 2026, up from 7% in the prior year. Opening price point (OPP) strategy now covers 35% of the assortment, utilizing a cost-engineered sourcing model to support conversion and basket growth without sacrificing product margins. Strategic expansion into third-party marketplaces including Macy's, Target, and soon Walmart is viewed as highly incremental for reaching new-to-file customers. Management expects a return to comparable sales growth in the second half of the year, supported by the compounding effect of customer reactivation and acquisition trends observed in July and August. Marketing spend is being reallocated to increase digital investment by $1 million in the back half, specifically targeting paid social, product listing ads, and non-branded search to drive prospecting. The company is leveraging a new internally developed media mix model to optimize paid media investments starting in the fourth quarter. Fourth quarter EBITDA margin is expected to improve, driven equally by gross margin expansion from tariff normalization and SG&A leverage from store closures. Guidance assumes a stable tariff environment of 12% to 15% for the remainder of the year, with potential upside from an additional $1.5 million to $2.5 million in pending tariff refund claims. Recognized $11.1 million in IEEPA tariff refunds during Q2, which significantly bolstered reported adjusted EBITDA and gross margins. Inventory levels were reduced by 3.6% year-over-year, reflecting disciplined receipt management and the impact of the store closure program. Borrowing on the revolving credit facility reached $39.7 million, which management identified as the peak borrowing level for the fiscal year. Identified a structural erosion in organic search revenue over recent years, prompting a new 5-pillar plan to rebuild category authority and AI discoverability. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that the improvement was broad-based, with all 11 marketing channels inflecting positively simultaneously. The recovery was driven by both traffic and conversion, specifically highlighting a return to positive low-single-digit digital customer reactivation. Margin improvements are being driven by a more 'activist' multi-country sourcing strategy that has refined cost of goods across the pricing architecture. Management expects that feeding the customer file with new and reactivated shoppers will naturally relieve pressure on product margins by reducing the need for heavy discounting. While sub-brands initially expanded wallet share among existing customers, they are now primary tools for acquisition. A dedicated paid media plan for the Festi sub-brand is launching in late September to specifically accelerate new customer prospecting.

Delivered Second Quarter Net Sales Results within guidance Second Quarter Net Income of $5.2 million Delivered Second Quarter Adjusted EBITDA(1) of $23.3 million, including IEEPA tariff refund benefit of $11.1 million Raises Fiscal 2026 guidance to include IEEPA tariff refund benefit recognized in the second quarter CITY OF INDUSTRY, Calif., September 03, 2026--(BUSINESS WIRE)--Torrid Holdings Inc. ("Torrid" or the "Company") (NYSE: CURV), a direct-to-consumer apparel, intimates, and accessories brand in North America for women sizes 8 to 30, today announced its financial results for the second quarter ended August 1, 2026. Lisa Harper, Chief Executive Officer, stated, "Our second quarter results were in line with guidance. Sales trends improved meaningfully as the quarter progressed, with July marking a clear inflection point. This improvement reflects early traction from our customer growth strategy and the merchandising course corrections we have made including a better balance of core and fashion assortments and a strengthening inventory position in footwear." Harper continued, "We are encouraged by the momentum building across the business. Our sub-brands continue to scale, our opening price point strategy is driving conversion and value perception, and our expansion into third-party marketplaces is introducing Torrid to new customers. At the same time, increasingly personalized marketing, growing mobile app engagement, and the relaunched Casting Call community program are strengthening acquisition, reactivation, and retention. We are raising our full-year outlook to reflect the tariff refund benefit received in the quarter. Excluding this benefit, our outlook is unchanged. With a more productive store base and disciplined operating structure supporting the business, we remain confident in our path to sustainable comparable sales growth in the second half of the year." Financial Highlights for the Second Quarter of Fiscal 2026 Net sales decreased 11.8% to $231.7 million compared to $262.8 million for the second quarter of last year. Comparable sales(2) decreased 6.3% in the second quarter. Gross profit margin was 38.7% compared to 35.6% in the second quarter of last year. During the quarter, we received $11.4 million in IEEPA tariff benefits, including $11.1 million recorded as a reduction in cost of goods sold and $0.3 million recognized as related interest income. Gross profit margin excluding the benefit of tariff refunds received was 33.9% Net income of $5.2 million, or $0.05 per share, compared to net income of $1.6 million, or $0.02 per share in the second quarter of last year. Adjusted EBITDA(1) was $23.3 million, or 10.0% of net sales, compared to $21.5 million, or 8.2% of net sales, in the second quarter of last year. Excluding the impact of tariff refunds received, Adjusted EBITDA(1) was $12.1 million, or 5.2% of net sales. In the second quarter, we closed 6 Torrid stores as part of the Store Footprint Optimization Project. The total store count at quarter end was 457 stores. Second Quarter Fiscal 2026 Financial and Operating Metrics Balance Sheet and Cash Flow Cash and cash equivalents at the end of the second quarter of fiscal 2026 totaled $22.0 million. Total liquidity at the end of the second quarter, including available borrowing capacity under our revolving credit agreement, was $74.4 million. Net cash provided by operations for the six-month period ended August 1, 2026 was $10.1 million, compared to net cash used in operations of $2.3 million for the six-month period ended August 2, 2025. Outlook includes the benefit of IEEPA Tariffs recognized in the second quarter: For the third quarter of fiscal 2026 the Company expects: Net sales between $230 million and $235 million. Adjusted EBITDA(1) between $15 million and $20 million. For the full year fiscal 2026 the Company expects: Net sales between $940 million and $960 million. Adjusted EBITDA(1) between $76 million and $86 million. Capital expenditures between $8 million and $10 million. The above outlook is based on several assumptions, including, but not limited to, the macroeconomic challenges in the industry in fiscal 2026. The above outlook does not take into consideration any further potential volatility from tariff changes, including related impacts on inflation and consumer demand. See "Forward-Looking Statements" for additional information. Conference Call Details A conference call to discuss the Company’s second quarter fiscal 2026 results is scheduled for September 3, 2026, at 4:30 p.m. ET. Those who wish to participate in the call may do so by dialing (877) 407-9208 or (201) 493-6784 for international callers. The conference call will also be webcast live at https://investors.torrid.com. For those unable to participate, a replay of the conference call will be available approximately three hours after the conclusion of the call until September 17, 2026. Notes About Torrid TORRID is a direct-to-consumer brand in North America dedicated to offering a diverse assortment of stylish apparel, intimates, and accessories skillfully designed for the curvy woman. Specializing in sizes 8 to 30, our primary focus is on providing fashionable, comfortable, and affordable options that meet the unique needs of our customers. Our extensive collection features high quality merchandise, including tops, bottoms, denim, dresses, intimates, activewear, footwear, and accessories. Our products are exclusive to us, and each product is meticulously crafted to cater to the needs of the curvy woman, empowering her to love the way she looks and feels. Our collections are artfully curated to suit all aspects of our customers’ lives, including casual weekends, work, dressy and special occasions. Understanding the importance of affordability, we aim to keep our prices reasonable without compromising on quality. This allows us to build a meaningful connection with our customers, distinguishing us from other brands that often overlook plus- and mid-size consumers. Our brand experience and product offerings establish us as a differentiated and reliable choice for plus- and mid-size customers, which we believe sets us apart in the market. We strive to be everything our customer needs in her closet, consistently delivering products that make her feel confident and stylish. Non-GAAP Financial Measures In addition to results determined in accordance with accounting principles generally accepted in the United States of America ("GAAP"), management utilizes certain non-GAAP performance measures, such as Adjusted EBITDA, for purposes of evaluating ongoing operations and for internal planning and forecasting purposes. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance. Adjusted EBITDA is a supplemental measure of our operating performance that is neither required by, nor presented in accordance with, GAAP and our calculations thereof may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA represents GAAP net income (loss) plus interest expense less interest income, net of other expense (income), plus provision for income taxes, depreciation and amortization ("EBITDA"), and share-based compensation, non-cash deductions and charges, and other expenses. We believe Adjusted EBITDA facilitates operating performance comparisons from period to period by isolating the effects of certain items that vary from period to period without any correlation to ongoing operating performance. We also use Adjusted EBITDA as one of the primary methods for planning and forecasting the overall expected performance of our business and for evaluating on a quarterly and annual basis, actual results against such expectations. Further, we recognize Adjusted EBITDA as a commonly used measure in determining business value and, as such, use it internally to report and analyze our results and as a benchmark to determine certain non-equity incentive payments made to executives. Adjusted EBITDA has limitations as an analytical tool. This measure is not a measurement of our financial performance under GAAP and should not be considered in isolation or as an alternative to or substitute for net income (loss), income (loss) from operations, earnings (loss) per share or any other performance measures determined in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of our liquidity. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Forward-Looking Statements Certain statements made in this earnings release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this earnings release are forward-looking statements. Forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "can have," "likely" and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). For example, all statements we make relating to our expected third quarter of fiscal 2026, our full year fiscal 2026 performance, our estimated and projected costs, expenditures, cash flows, growth rates and financial results, our plans and objectives for future operations, growth or initiatives, strategies or the expected outcome or impact of pending or threatened litigation are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: changes in consumer spending and general economic conditions; the negative impact on our revenue and profitability as a result of the imposition of new or increased duties or tariffs on goods from the countries where we manufacture our merchandise which, among other things, could limit our ability to manufacture products in cost-effective countries and require us to absorb costs or pass costs onto customers; ongoing or threats of war, terrorism and other catastrophes, including natural disasters, that could negatively impact our business; the interruption of the flow of merchandise from international manufacturers; the negative impact on interest expense as a result of high interest rates; inflationary pressures with respect to labor and raw materials and global supply chain constraints that could increase our expenses; our ability to identify and respond to new and changing product trends, consumer shopping preferences and other related factors, including the increasing use of glucagon-like peptide-1 ("GLP-1") medications; our dependence on a strong brand image; increased competition from other brands and retailers; our reliance on third parties to drive traffic to our website; the success of the shopping centers in which our stores are located; our ability to develop and maintain a relevant and reliable omni-channel experience for our customers; our dependence upon independent third parties for the manufacture of all of our merchandise; availability constraints and price volatility in the raw materials used to manufacture our products; exposure to risks inherent in doing business globally as a result of sourcing a significant amount of our products from various countries; shortages of inventory, delayed shipments to our e-Commerce customers and harm to our reputation due to difficulties or shut-down of our distribution facility; our reliance upon independent third-party transportation providers for substantially all of our product shipments; our growth strategy, including our retail store optimization strategy; our failure to attract and retain employees that reflect our brand image, embody our culture and possess the appropriate skill set; damage to our reputation arising from our use of social media, email and text messages; our reliance on third parties for the provision of certain services, including real estate management; our dependence upon key members of our executive management team; our reliance on information systems, including artificial intelligence and machine learning technologies; system security risk issues that could disrupt our internal operations or information technology services; unauthorized disclosure of sensitive or confidential information, whether through a breach of our computer system, third-party computer systems we rely on, or otherwise; our failure to comply with federal and state laws and regulations and industry standards relating to privacy, data protection, advertising and consumer protection; payment-related risks that could increase our operating costs or subject us to potential liability; claims made against us resulting in litigation; changes in laws and regulations applicable to our business; regulatory actions or recalls arising from issues with product safety; the adverse impact of rulemaking changes implemented by the Consumer Financial Protection Bureau on our income streams, profitability and results of operations; our inability to protect our trademarks or other intellectual property rights; our substantial indebtedness and lease obligations; restrictions imposed by our indebtedness on our current and future operations; changes in tax laws or regulations or in our operations that may impact our effective tax rate; the possibility that we may recognize impairments of definite-lived assets; and our failure to maintain adequate internal control over financial reporting. The outcome of the events described in any of our forward-looking statements are also subject to risks, uncertainties and other factors described in the sections entitled "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 31, 2026 and in our other filings with the SEC and public communications. You should evaluate all forward-looking statements made in this earnings release in the context of these risks and uncertainties. We derive many of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the effect of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. We caution you that the important factors referenced above may not include all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the outcomes or affect us or our operations in the way we expect. The forward-looking statements included in this earnings release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except to the extent required by law. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments. Investors and others should note that we may announce material information to our investors using our investor relations website (https://investors.torrid.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media, to communicate with our investors and the public about our company, our business and other issues. It is possible that the information that we post on social media could be deemed to be material information. We therefore encourage investors to visit these websites from time to time. The information contained on such websites and social media posts is not incorporated by reference into this filing. Further, our references to website URLs in this filing are intended to be inactive textual references only. View source version on businesswire.com: https://www.businesswire.com/news/home/20260903002594/en/ Contacts Investors Tom FilandroLyn [email protected] Media Joele Frank, Wilkinson Brimmer KatcherMichael Freitag / Arielle Rothstein / Lyle [email protected]

Interested in Torrid Holdings Inc.? Here are five stocks we like better. Sales trends improved: Torrid’s Q2 net sales fell to $231.7 million and comparable sales declined 6.3%, but comparable sales turned positive in July and momentum continued into August. Profitability benefited from a tariff refund: Adjusted EBITDA was $23.3 million, including an $11.1 million refund; excluding the benefit, EBITDA was $12.1 million. Store closures and footprint optimization reduced SG&A, with 177 locations closed to date. Full-year outlook maintained: Torrid kept its net sales forecast at $940 million-$960 million and expects adjusted EBITDA of $65 million-$75 million excluding tariff benefits. The company plans increased digital marketing investment, continued sub-brand growth and further marketplace expansion. Torrid (NYSE:CURV) reported second-quarter fiscal 2026 net sales of $231.7 million and adjusted EBITDA of $23.3 million, including an $11.1 million tariff refund benefit recognized in cost of goods sold. Excluding that benefit, adjusted EBITDA was $12.1 million, within the company’s guidance range. Comparable sales declined 6.3% in the quarter, while net sales fell from $262.8 million a year earlier. However, management said sales trends improved materially as the quarter progressed, with comparable sales returning to positive territory in July and momentum continuing into August. → Boarding Call: EHang Secures First-Mover Altitude “June was genuinely a difficult month for us,” Chief Executive Officer Lisa Harper said, citing elevated gas prices and seasonal pressures on discretionary spending. Harper said July represented a “significant pivot,” driven by improved customer reactivation, acquisition across marketing channels and the relaunch of the company’s Casting Call community events. Torrid said its principal fiscal 2026 objective is to expand its customer file through customer acquisition, reactivation and retention. Chief Commercial Officer Ashlee Wheeler said all 11 marketing channels improved sequentially in July, contributing to positive comparable sales for the month. → Medtronic’s Stars Are Aligning for a Price Recovery According to Wheeler, the company saw year-over-year digital customer growth in both July and August. Paid-media revenue rose by double digits in the second quarter despite lower spending than the prior year, resulting in improved return on ad spend. Paid revenue represented 12% of digital revenue, compared with 9% a year earlier. For the second half, Torrid plans to increase digital marketing spending by roughly $1 million versus its original plan, though spending will remain 16% below the prior year. The company intends to direct the investment toward reactivation and customer prospecting, including paid social media, product listing ads and non-branded search. → Dutch Bros Sell-Off Creates a Growth Opportunity The company also plans to launch a dedicated Festi media campaign on Sept. 25. Wheeler said Festi, Torrid’s largest sub-brand, is expected to be the most beneficial sub-brand for new customer acquisition and reactivation. Torrid said organic-search revenue has been positive year over year since June after the company implemented initiatives spanning product content, category authority, technical infrastructure and AI visibility. Its mobile app was another source of digital improvement, with app revenue reaching nearly 40% of digital revenue in July. The app grew at a double-digit rate year over year and converts at approximately seven times the rate of the company’s desktop and mobile web experiences, Wheeler said. Management cited strength in knits, shorts, dresses, activewear and graphic tees. Harper said the company’s Super Soft fabric initiative in knit dressing has received a positive customer response, while footwear—which was a first-half sales headwind—has begun to perform above expectations following sourcing and assortment changes. Footwear reduced second-quarter comparable sales by roughly 100 basis points, Chief Financial Officer Paula Dempsey said. The company expects the category to shift to a sales and margin tailwind in the second half. Torrid’s sub-brands generated approximately 74% year-over-year growth through the first half. The company remains on track for sub-brand sales of $110 million in fiscal 2026, which would represent 60% growth from 2025 and about 12% of total net sales, up from 7% last year. Opening-price-point merchandise accounted for approximately 35% of Torrid’s assortment and supported conversion and basket growth, management said. The company also introduced “Fashion at a Price,” an accessible mid-tier pricing category that has shown early success in denim, fashion knits, woven tops and sweaters. Torrid expanded its third-party marketplace presence, going live on Macy’s in mid-July and Target more recently. It expects to launch on Walmart later this year. The company owns and fulfills inventory sold through the marketplaces and said the channel remains small but has been incremental, with many customers reached through these partnerships new to the customer file. Second-quarter gross profit was $89.7 million, compared with $93.5 million a year earlier, while reported gross margin increased to 38.7% from 35.6%. Excluding the tariff refund benefit, gross margin was 33.9%, down 170 basis points year over year, primarily due to targeted promotions. SG&A expense declined $8.6 million to $61.9 million, reflecting savings from the company’s store footprint optimization effort. Torrid closed six stores during the quarter and ended the period with 457 locations, compared with 575 a year earlier. The company has closed 177 locations since beginning the program and said it has substantially completed the initiative. Net income was $5.2 million, or $0.05 per share, compared with $1.6 million, or $0.02 per share, a year earlier. The company ended the quarter with $22 million in cash and cash equivalents, $39.7 million drawn on its revolving credit facility and total liquidity of $74.4 million. Torrid maintained its full-year net sales outlook of $940 million to $960 million. It raised its reported adjusted EBITDA outlook to $76 million to $86 million to reflect the tariff refund benefit, while maintaining its adjusted EBITDA forecast excluding that benefit at $65 million to $75 million. The company expects approximately $40 million in fiscal 2026 expense savings from store optimization, with about $22 million realized in the first half. For the third quarter, Torrid expects net sales of $230 million to $235 million and adjusted EBITDA of $15 million to $20 million. Management said its outlook assumes tariffs of 12% to 15% in the second half and does not include potential additional tariff refunds estimated at $1.5 million to $2.5 million. Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women's fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company's product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers. Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Torrid Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for September 2026.

Dollar General (DG) came out with quarterly earnings of $2.23 per share, beating the Zacks Consensus Estimate of $2 per share. This compares to earnings of $1.86 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +11.50%. A quarter ago, it was expected that this discount retailer would post earnings of $1.89 per share when it actually produced earnings of $2, delivering a surprise of +5.82%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Dollar General, which belongs to the Zacks Retail - Discount Stores industry, posted revenues of $11.29 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 1.00%. This compares to year-ago revenues of $10.73 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Dollar General shares have lost about 7.5% since the beginning of the year versus the S&P 500's gain of 12.1%. While Dollar General has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Dollar General was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.37 on $11.1 billion in revenues for the coming quarter and $7.37 on $44.4 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Discount Stores is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the broader Zacks Retail-Wholesale sector, Torrid Holdings (CURV), is yet to report results for the quarter ended July 2026. The results are expected to be released on September 3. This women's apparel retailer is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of -250%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Torrid Holdings' revenues are expected to be $236.62 million, down 10% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dollar General Corporation (DG) : Free Stock Analysis Report Torrid Holdings Inc. (CURV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

CITY OF INDUSTRY, Calif., August 20, 2026--(BUSINESS WIRE)--Torrid Holdings Inc. ("Torrid" or the "Company") (NYSE: CURV), a direct-to-consumer apparel, intimates, and accessories brand in North America for women sizes 8 to 30, today announced that it will release second quarter 2026 financial results after market close on Thursday, September 3, 2026. Management will host a conference call that afternoon at 4:30 p.m. Eastern Time to discuss its financial results. Those who wish to participate in the call may do so by dialing (877) 407-9208 or (201) 493-6784 for international callers. The conference call will also be webcast live at https://investors.torrid.com. For those unable to participate, a replay of the conference call will be available approximately three hours after the conclusion of the call until September 10, 2026. To access the telephone replay please dial (844) 512-2921 or (412) 317-6671 for international callers, conference ID 13761515. A replay of the webcast will also be available approximately three hours after the conclusion of the call on the Company's website at https://investors.torrid.com. About Torrid TORRID is a direct-to-consumer brand in North America dedicated to offering a diverse assortment of stylish apparel, intimates, and accessories skillfully designed for the curvy woman. Specializing in sizes 8 to 30, our primary focus is on providing fashionable, comfortable, and affordable options that meet the unique needs of our customers. Our extensive collection features high quality merchandise, including tops, bottoms, denim, dresses, intimates, activewear, footwear, and accessories. Our products are exclusive to us, and each product is meticulously crafted to cater to the needs of the curvy woman, empowering her to love the way she looks and feels. Our collections are artfully curated to suit all aspects of our customers’ lives, including casual weekends, work, dressy and special occasions. Understanding the importance of affordability, we aim to keep our prices reasonable without compromising on quality. This allows us to build a meaningful connection with our customers, distinguishing us from other brands that often overlook plus- and mid-size consumers. Our brand experience and product offerings establish us as a differentiated and reliable choice for plus- and mid-size customers, which we believe sets us apart in the market. We strive to be everything our customer needs in her closet, consistently delivering products that make her feel confident and stylish. View source version on businesswire.com: https://www.businesswire.com/news/home/20260820366404/en/ Contacts Investors Tom FilandroLyn [email protected] Media Joele Frank, Wilkinson Brimmer KatcherMichael Freitag / Arielle Rothstein / Lyle [email protected]

Murphy USA (MUSA) came out with quarterly earnings of $11.27 per share, beating the Zacks Consensus Estimate of $9.4 per share. This compares to earnings of $7.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +19.89%. A quarter ago, it was expected that this gasoline station operator would post earnings of $5.37 per share when it actually produced earnings of $7.28, delivering a surprise of +35.57%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Murphy USA, which belongs to the Zacks Retail - Convenience Stores industry, posted revenues of $6.81 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 15.33%. This compares to year-ago revenues of $5.01 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Murphy USA shares have added about 46.1% since the beginning of the year versus the S&P 500's gain of 13%. While Murphy USA has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Murphy USA was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $8.09 on $5.79 billion in revenues for the coming quarter and $32.58 on $21.91 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Convenience Stores is currently in the top 45% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the broader Zacks Retail-Wholesale sector, Torrid Holdings (CURV), is yet to report results for the quarter ended July 2026. This women's apparel retailer is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of -250%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Torrid Holdings' revenues are expected to be $236.62 million, down 10% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Murphy USA Inc. (MUSA) : Free Stock Analysis Report Torrid Holdings Inc. (CURV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research