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Torrid Holdings drops 25% and announces its Q3 Financials for 2021

Torrid is a North American-based brand in the direct-to-consumer accessories and apparels space that was down 25% after it announced its third-quarter financials for 2021.

Torrid Holdings Inc (NYSE: CURVis a direct-to-consumer accessories, intimates, and apparel company for size 10 to 30 women. Based in North America, this company dropped by 25% after it announced its Q3 financial results for 2021.

The company also announced the planned retirement of its CFO, George Wehiltz. Mr. Wehiltz has decided to retire of his own volition by Q1 2022. 

How does top management feel?

The company’s Chief Executive Officer, Liz Munoz, claims they’re delighted with the robust growth of their profitability and sales in this quarter, especially considering how challenging the operating business environment has been over the last couple of months. 

Their financial results show how well they’re executing against their key strategic initiatives. In addition, she says that they’re encouraged by the company’s momentum toward a unified commerce model. The CEO further stated:

“We continue to evolve our product offering, enhance our digital marketing strategies and provide an exceptional customer experience that drives excitement and engagement as we remain committed to serving this largely underserved community.”

The CEO said that they could build on all the accomplishments they’ve made across their long-term key strategic initiatives. The company recorded net sales of $306.2 million, representing a 13% increase from what they got in the same quarter of the previous fiscal year.

The planned retirement of the CFO

George Wehiltz, Torrid’s Chief Financial Officer, will stay in his position until the end of the company’s financial year of 2021. However, he will retire as soon as the first quarter of 2021 ends. He will act as company advisor after his official retirement to make sure there’s a smooth transition. George said:

“I am extremely proud of our accomplishments during my tenure as CFO, including the recent milestone of becoming a public company. I am committed to working alongside Liz and the Torrid team to help ensure a seamless transition of the CFO role.”

The CEO also thanked the outgoing CFO for all the great work he has done during his tenure. 

The post Torrid Holdings drops 25% and announces its Q3 Financials for 2021 appeared first on Invezz.