Trending...
- OneVizion Announces Next Phase of Growth as Brad Kitchens Joins Board of Directors
- "They Said It Was Impossible": This Bottle Turns Any Freshwater Source Into Ice-Cold, Purified Drinking Water in Seconds
- Deep Learning Robotics (DLRob) Announces Pre-Launch of Zero-Teach and Teach-by-Demonstration Technology for Kitting Applications
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Torrid Holdings Inc. ("Torrid" or the "Company") (NYSE: CURV) investors concerning the Company's possible violations of federal securities laws.
Torrid conducted its initial public offering ("IPO") in July 2021, selling 12.65 million shares at $21 per share.
On December 8, 2021, Torrid announced its third quarter 2021 financial results, and disclosed that sales had increased only 14% year-over-year, compared to a reported 108% increase for the first quarter of 2021. The Company also lowered its annual guidance. On this news, Torrid's stock price fell $4.37, or 27.9%, to close at $11.28 per share on December 9, 2021.
On January 10, 2022, Torrid issued a press release further lowering the Company's sales and earning guidance. On this news, Torrid's stock price fell $2.50, or 23.4%, to close at $8.20 per share on January 10, 2022, there injuring investors further.
More on The PennZone
Then, on March 17, 2022, Torrid released its fourth quarter 2021 financial results, revealing that sales growth had continued to decelerate to just 4.5% growth during the quarter, with the Company's adjusted EBITDA margin falling to only 9% of net sales due to supply chain disruptions and increased transportation and product costs.
On September 7, 2022, Torrid released its second quarter 2022 financial results, revising the Company's annual 2022 net sales guidance from a range of $1.3 billion to $1.365 billion to a range of $1.26 billion to $1.3 billion, as well as revising its annual 2022 adjusted EBITDA guidance from a range of $195 million to $220 million to a range of $160 million to $175 million.
By the end of September 2022, Torrid's stock price fell to a low of $4.06 per share, more than 80% below the IPO price.
If you purchased Torrid securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
More on The PennZone
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Torrid conducted its initial public offering ("IPO") in July 2021, selling 12.65 million shares at $21 per share.
On December 8, 2021, Torrid announced its third quarter 2021 financial results, and disclosed that sales had increased only 14% year-over-year, compared to a reported 108% increase for the first quarter of 2021. The Company also lowered its annual guidance. On this news, Torrid's stock price fell $4.37, or 27.9%, to close at $11.28 per share on December 9, 2021.
On January 10, 2022, Torrid issued a press release further lowering the Company's sales and earning guidance. On this news, Torrid's stock price fell $2.50, or 23.4%, to close at $8.20 per share on January 10, 2022, there injuring investors further.
More on The PennZone
- Atlanta Magazine Names Dr. Rashad Richey One of Atlanta's Most Influential Leaders in 2026 as the FIFA World Cup Approaches
- Apostle Margelee Hylton Announces the Release of Third Day Prayer
- Slotozilla Reports Strong Q4 Growth and Sigma Rome Success
- "Lights Off" and Laughs On: Joseph Neibich Twists Horror Tropes in Hilariously Demonic Fashion
- Families Gain Clarity: Postmortem Pathology Expands Private Autopsy Services in St. Louis
Then, on March 17, 2022, Torrid released its fourth quarter 2021 financial results, revealing that sales growth had continued to decelerate to just 4.5% growth during the quarter, with the Company's adjusted EBITDA margin falling to only 9% of net sales due to supply chain disruptions and increased transportation and product costs.
On September 7, 2022, Torrid released its second quarter 2022 financial results, revising the Company's annual 2022 net sales guidance from a range of $1.3 billion to $1.365 billion to a range of $1.26 billion to $1.3 billion, as well as revising its annual 2022 adjusted EBITDA guidance from a range of $195 million to $220 million to a range of $160 million to $175 million.
By the end of September 2022, Torrid's stock price fell to a low of $4.06 per share, more than 80% below the IPO price.
If you purchased Torrid securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
More on The PennZone
- Beethoven: Music of Revolution and Triumph - Eroica
- Don't Get Burned by High Heater Prices in Philly This Winter!
- Amy Turner Receives 2025 ENPY Partnership Builder Award from The Community Foundation
- Hubble Tension Solved? Study finds evidence of an 'Invisible Bias' in How We Measure the Universe
- Boonuspart.ee Acquires Kasiino-boonus.ee to Strengthen Its Position in the Estonian iGaming Market
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Filed Under: Business
0 Comments
Latest on The PennZone
- iFLO Pro Launches Its Groundbreaking iFLO Pro Mini At The 2026 AHR Expo In Las Vegas
- TL International Group Becomes First Global Operator to Fully Migrate to Pulsant's Dedicated Car Rental Cloud
- Diveroli Investment Group Files 13D in PetMed Express, Highlights Strategic Value, Asset Floor, and Multiple Takeover Pathways
- Excel Signworks Introduces Custom Lobby Signs to Help Pittsburgh Businesses Elevate First Impressions in 2026
- Deep Learning Robotics (DLRob) Announces Pre-Launch of Zero-Teach and Teach-by-Demonstration Technology for Kitting Applications
- The Quasar Dipole Phenomenon is likely just a complex systematics artifact
- The Rise of Comprehensive Home Water Treatment Systems
- Yazaki Innovations to Introduce First-Ever Prefabricated Home Wiring System to U.S. Residential Market in 2026
- Bisnar Chase Named 2026 Law Firm of the Year by Best Lawyers
- Ace Industries Welcomes Jack Polish as Controller
- Senseeker Machining Company Acquires Axis Machine to Establish Machining Capability for Improved Supply Chain Control and Shorter Delivery Times
- VC Fast Pitch Is Coming to Maryland on March 26th
- Patent Bar Exam Candidates Achieve 30% Higher Pass Rates with Wysebridge's 2026 Platform
- Municipal Carbon Field Guide Launched by LandConnect -- New Revenue Streams for Cities Managing Vacant Land
- Hoy Law Wins Supreme Court Decision Establishing Federal Trucking Regulations as the Standard of Care in South Dakota
- Dr. Rashad Richey's Indisputable Shatters Records, Over 1 Billion YouTube Views, Top 1% Podcast, 3.2 Million Viewers Daily
- Lee, Miller, Quesada Featured in Standout FAN EXPO Philadelphia Creator Lineup, May 29-31
- Grand Opening: New Single-Family Homes Now Open for Sale at Heritage at Manalapan
- Radiant Floor Heating & Tile: Why More Chester County Homeowners Are Choosing Comfort Over Convention
- Shelter Structures America Announces Distribution Partnership with The DuraTrac Group