$CURV

Torrid Holdings Inc.

CIK:0001792781|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2026 USD ($) $ / shares shares	Aug. 02, 2025 USD ($) $ / shares shares	Aug. 01, 2026 USD ($) $ / shares shares	Aug. 02, 2025 USD ($) $ / shares shares
Income Statement [Abstract]
Net sales	$ 231,727	$ 262,806	$ 477,527	$ 528,771
Cost of goods sold	141,980	169,318	300,962	333,881
Gross profit	89,747	93,488	176,565	194,890
Selling, general and administrative expenses	61,882	70,511	125,595	140,527
Marketing expenses	13,326	12,817	27,868	28,176
Income from operations	14,539	10,160	23,102	26,187
Interest expense	7,841	8,119	15,560	16,280
Interest income, net of other expense (income)	148	(13)	121	(719)
Income before income taxes	6,550	2,054	7,421	10,626
Provision for income taxes	1,373	487	1,830	3,119
Net income	$ 5,177	$ 1,567	$ 5,591	$ 7,507
Net earnings per share:
Basic (in USD per share) \| (per share)	$ 0.05	$ 0.02	$ 0.06	$ 0.07
Diluted (in USD per share) \| (per share)	$ 0.05	$ 0.02	$ 0.06	$ 0.07
Weighted average number of shares:
Basic (in shares) \| shares	99,602	102,470	99,495	103,699
Diluted (in shares) \| shares	100,213	102,746	99,880	104,400
Other comprehensive (loss) income:
Foreign currency translation adjustment	$ (207)	$ 16	$ (192)	$ 391
Total other comprehensive (loss) income	(207)	16	(192)	391
Comprehensive income	$ 4,970	$ 1,583	$ 5,399	$ 7,898

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025
OPERATING ACTIVITIES
Net income	$ 5,591	$ 7,507
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Write down of inventory	1,436	1,427
Operating right-of-use assets amortization	13,578	17,583
Depreciation and other amortization	12,110	19,584
Share-based compensation	4,321	2,840
Deferred taxes	0	2,743
Write off of excess operating lease liabilities against operating right-of-use-assets	(1,881)	(4,164)
Other, net	589	(799)
Changes in operating assets and liabilities:
Inventory	9,253	17,060
Prepaid expenses and other current assets	(3,126)	(1,258)
Prepaid income taxes	1,169	(6,900)
Deposits and other noncurrent assets	2,134	(1,045)
Accounts payable	424	(19,980)
Accrued and other current liabilities	(16,771)	(17,026)
Operating lease liabilities	(16,910)	(19,840)
Other noncurrent liabilities	452	(82)
Deferred compensation	98	(112)
Due to related parties	(2,279)	74
Income taxes payable	(122)	118
Net cash provided by (used in) operating activities	10,066	(2,270)
INVESTING ACTIVITIES
Purchases of property and equipment	(7,415)	(3,671)
Net cash used in investing activities	(7,415)	(3,671)
FINANCING ACTIVITIES
Proceeds from revolving credit facility	311,060	171,650
Principal payments on revolving credit facility	(302,390)	(163,750)
Deferred financing costs paid for revolving credit facility	0	(375)
Principal payments on term loan	(8,750)	(8,750)
Proceeds from issuances under share-based compensation plans	74	199
Withholding tax payments related to vesting of restricted stock units and awards and exercise of non qualified stock options	(175)	(444)
Share repurchase, including excise tax paid	(186)	(20,000)
Net cash used in financing activities	(367)	(21,470)
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash	(303)	431
Increase (decrease) in cash, cash equivalents and restricted cash	1,981	(26,980)
Cash, cash equivalents and restricted cash at beginning of period	20,444	48,922
Cash, cash equivalents and restricted cash at end of period	22,425	21,942
SUPPLEMENTAL INFORMATION
Cash paid during the period for interest related to the revolving credit facility and term loan	12,592	17,680
Cash paid during the period for income taxes	789	7,135
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Property and equipment purchases included in accounts payable and accrued liabilities	1,248	2,138
Excise tax from share repurchase included in accounts payable and accrued liabilities	0	200
Cost of treasury shares included in accounts payable and accrued liabilities	$ 0	$ 85

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Aug. 01, 2026	Jan. 31, 2026
Current assets:
Cash and cash equivalents	$ 22,004	$ 20,023
Restricted cash	421	421
Inventory	125,600	136,483
Prepaid expenses and other current assets	27,690	24,564
Prepaid income taxes	10,822	11,991
Total current assets	186,537	193,482
Property and equipment, net	46,960	51,632
Operating lease right-of-use assets	93,099	108,191
Deposits and other noncurrent assets	17,385	19,570
Deferred tax assets	19,065	19,065
Intangible asset	8,400	8,400
Total assets	371,446	400,340
Current liabilities:
Accounts payable	57,718	56,764
Accrued and other current liabilities	90,668	106,446
Operating lease liabilities	26,649	32,171
Borrowings under credit facility	39,690	31,020
Current portion of term loan	16,144	16,144
Due to related parties	3,992	6,271
Income taxes payable	0	122
Total current liabilities	234,861	248,938
Noncurrent operating lease liabilities	86,814	100,884
Noncurrent debt, net	248,192	256,264
Deferred compensation	4,137	4,039
Other noncurrent liabilities	3,255	3,622
Total liabilities	577,259	613,747
Commitments and contingencies (Note 9)
Stockholders’ Deficit:
Preferred shares: $0.01 par value; 5,000,000 shares authorized; no shares issued and outstanding at August 1, 2026 and January 31, 2026	0	0
Common shares: $0.01 par value; 1,000,000,000 shares authorized; 105,724,568 and 99,693,660 shares issued and outstanding, respectively, at August 1, 2026; 105,344,216 and 99,313,308 shares issued and outstanding, respectively, at January 31, 2026	1,057	1,053
Additional paid-in capital	146,911	144,720
Accumulated deficit	(332,712)	(338,303)
Accumulated other comprehensive loss	(798)	(606)
Common shares in treasury, at cost: 6,030,908 shares at August 1, 2026 and January 31, 2026	(20,271)	(20,271)
Total stockholders’ deficit	(205,813)	(213,407)
Total liabilities and stockholders’ deficit	$ 371,446	$ 400,340