Apparel retailer Torrid Holdings falls on weak 2023, Q2 sales forecast

Torrid Holdings

07/06/2023 22:04

** Shares of women's plus-size clothing retailer Torrid
Holdings  CURV.N  down 17% at $2.05 in extended trading
    ** Co trims annual sales forecast as cost-conscious
consumers cut down spending on apparel and accessories
    ** Now expects full-year sales between $1.1 bln and $1.15
bln, compared to prior forecast of $1.27 bln to $1.32 bln
    ** Also projects Q2 sales between $280 mln and $295 mln,
below Wall Street estimate of $333.1 mln, per Refinitiv data
    ** CURV misses Q1 sales expectations 
    ** Up to today's close, stock had fallen 16.6% so far in
2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))