The PennZone

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

• Make America French Again Launches National Campaign
• RAS AP Consulting Expands AP Governance & Automation Practice and Named Finalist for Heidelberg Materials SAP Vendor & Customer Data Project
• New Children's Book Teaches Kids the Lesson Its Author Spent a Career Learning: Your Worth Doesn't Need Permission
• Proper Sky Named to the 2026 MSP 501
• 100+ Episodes In, Liftoff with Keith Newman Tells Founders to Stop Publishing More

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

• Vierra Communities Adds Operations of Two Skilled Nursing Facilities in the DC Metro Area
• Slotozilla Introduces a Centralized Resource for World Cup Bonus Offers
• Webinar Announcement: Built for Trust: Latitude's 0 to 1 Compliance Playbook for Modern Cross-Border Payments
• OneVizion Names AI Leader Matthew Kirk as Chief Operating Officer to Drive Governed AI Across Telecom and Electric Utilities
• Dentists launch independent platform to help practices choose the right technology

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

---

Show All News | Disclaimer | Report Violation