Trending...
- Philadelphia's Own Reverend Jamie Knight Returns with "Award-Winning Love
- Detained at 95: South Korea's Prosecution of a Religious Leader Draws International Alarm
- Sara Abbas Receives "Eniochos" Charioteer Award at 2026 Who is Who International Awards
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
- Search Is Broken. Curated Discovery Is the Future
- 20 Ways to Save Money Running a Van
- How Fortress Law Group Turned a DUI Arrest in Ohio Into a Full Acquittal at Trial
- Breaking the Silence: Tour Sparks National Conversation on Men's Mental Health and Domestic Abuse
- Mr. Hospital Bed Helps Home Care Buyers Find the Right Hospital Bed
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
- New School Announces Student Enrollment
- Able Rooter Expands Services to Offer Premium Water Heater Installation Across St. Louis
- Director Sean McNamara Reunites with Award-Winning Cinematographer Shawn Seifert for Upcoming Feature Home
- J. Kenton Pierce Wins Prometheus Award for Best Novel
- Ezra Wohlgelernter Named as a 2026 Philadelphia Power Broker by City & State PA
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
- Landmark Construction Expands Glass, Glazing, and Commercial Remodeling Services Across Los Angeles County and Surrounding Areas
- Imagen Golf Announces Strategic Partnership with The Back Nine of Yardley to Deliver World-Class Indoor Golf Instruction
- Jazzin' On Ridge Returns for Its 6th Annual Celebration of Music, Culture, and Community
- ENTOUCH Named Top 100 Inspiring Workplaces in North America for Third Consecutive Year
- Rebecca L. Francis Receives Pennsylvania's Most Influential Leaders Award
- Pulse Wave is where moments become movements
- Michigan's Plane Crash Data Points Away from Big Airports
- 2iG Solutions Launches MGA Insight, Bringing AI-Powered Business Intelligence to Managing General Agents
- A Better Way to Find a Real Estate Agent Is Coming Soon
- Talentica Software Earns a Place Among India's Top 100 Great Mid-size Workplaces 2026
- 4-Week Search for 2 True "Philly Girls" Starts July 8th 2026
- Socialhose Launches TikTok Investigator, a Platform for Investigating TikTok Live
- David Pedrol named Managing Director in Indonesia
- AutomationIQ Launches to Bring Enterprise-Grade AI Automation to Local and Mid-Market Businesses
- Texas Hospitals & Their Patients Describe Two Very Different Healthcare Systems, New Social Knowing
- DEPIN Studios Sees Surge in Demand After AI Gaming Launch
- Discard Junk Removal Named #1 Junk Removal Company in Sacramento Out of 189 Businesses Evaluated
- J&J Exterminating Mourns the Passing of Founder Bobby John Sr
- Delirious Comedy Club Transforms Into Las Vegas' Newest Live Comedy Studio With Weekly Delirious TV Tapings
- BitTitan Advances MigrationWiz with New Capabilities, Platform Enhancements, and Product Leadership Update