Torrid Holdings Inc. reported its financial results for the first quarter of fiscal 2025, with net sales decreasing by 4.9% year-over-year to $265.965 million. Comparable sales for the quarter declined by 4%.
Net income for the quarter was $5.940 million, down from $12.172 million in the prior year period. Adjusted EBITDA for Q1 2025 was $27.128 million, a decrease from $38.227 million in Q1 2024. The company stated these results were in line with expectations.
Torrid announced an acceleration of its store optimization plan, now intending to close up to 180 underperforming stores in fiscal year 2025. The company also highlighted positive results from its sub-brand strategy, which is exceeding expectations and is projected to represent nearly a third of the business by 2026. For the second quarter of fiscal 2025, the company expects net sales between $250 million and $265 million and Adjusted EBITDA between $18 million and $24 million.
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