In This Story
Torrid Holdings Inc. (CURV) has filed its Form 10-K filing for the fiscal year ended February 1, 2025.
The filing reports net sales of $1.1 billion, a decrease from $1.15 billion in the previous fiscal year. This decline was primarily attributed to a decrease in sales transaction values and a reduction in PLCC Funds.
Gross profit increased slightly to $413.5 million from $406 million, driven by reduced product costs and increased sales of regular-priced products.
Selling, general, and administrative expenses rose to $302 million from $293.3 million, primarily due to increased headquarter expenses and performance bonuses.
Marketing expenses decreased to $54.2 million from $55.5 million, reflecting reduced spending on certain marketing activities.
Interest expense for the year was $35.6 million, down from $39.2 million, due to a decrease in the variable interest rate associated with the term loan.
Net income for the fiscal year was $16.3 million, up from $11.6 million in the previous year, with an effective tax rate of 24.5%.
The company ended the fiscal year with $48.5 million in cash and cash equivalents, an increase from $11.7 million at the end of the previous year.
Torrid Holdings Inc. did not repurchase any shares during the fiscal year, leaving $44.9 million available under the current share repurchase program.
The filing also details the company's debt obligations, including a term loan with an outstanding balance of $288.6 million and an asset-based revolving credit facility with $109.5 million of availability.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Torrid Holdings Inc. annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.