By Josée Rose
Torrid Holdings said third-quarter sales fell 4.2%, pushing down comparable-store sales.
Shares fell 18%, to $3.90, in after-hours trading, and are down more than 20% year-to-date.
The women's clothing retailer posted a loss of $1.2 million, or 1 cent a share, compared with a loss of $2.7 million, or 3 cents a share, a year earlier.
Sales fell to $263.8 million, compared with $275.4 million a year earlier. Comparable-store sales fell 6.5%.
Analysts polled by FactSet expected earnings of 3 cents a share and sales of $284 million.
"Our third-quarter results were below our expectations as our fall assortments did not offer enough newness and novelty. We also saw the environment change meaningfully from the end of September and into October," CEO Lisa Harper said.
Torrid expects fourth-quarter sales between $255 million and $270 million and sees full-year sales between $1.08 billion and $1.1 billion.
Analysts are expecting fourth-quarter sales of $289 million and full-year sales of $1.14 billion.
As part of previously announced plans, Torrid intends to open 12 to 16 new Torrid stores while closing 30 to 40 stores.
Write to Josée Rose at josee.rose@wsj.com
(END) Dow Jones Newswires
December 03, 2024 16:40 ET (21:40 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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