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

• Strong Revenue Gains, Accelerating Growth, Strategic Hospital Expansion & Uplisting Advancements: Cardiff Lexington Corporation (Stock Symbol: CDIX)
• Holiday Decorations Most Likely to Cause Injuries
• UK Financial Ltd Confirms Official Corporate Structure of the Maya Preferred Project and Its Dual-Class Token System
• Zac Arbitman Elected As Co-Chair of Philadelphia Bar Association Federal Courts Committee
• CCHR Florida Joins Global Call to Ban Electroshock Treatment, Citing New Evidence of Widespread Patient Harm

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

• BoxingRx Announces Full Gym Renovation Ahead of New Ownership's One-Year Anniversary
• UK Financial Ltd Announces It's Official Corporate Headquarters In The United Kingdom
• Rigani Press Announces Breakthrough Book for Health IT and Medical Leaders to Forge the Road to Responsible AI
• Twin Flame Visions Announces Surge in Traffic and Engagement Following Breakout Ad Performance
• FreeTo.Chat - The bold, Anonymous Confession Platform, ushers in a new era of tension relief

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 | Report Violation