Torrid Q2 Sales Fall 12% but Tariff Refund Lifts Profit; Full-Year Guidance Raised
CURV has more than doubled off its 52-week low of $0.939.
Summary
Torrid reported Q2 FY2026 results with an 11.8% sales decline but a tariff refund-driven profit beat, and raised full-year guidance to include that one-time benefit.
Key Events · Earnings and Guidance · CURV
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Q2 Sales Decline 11.8%
Net sales fell to $231.7 million from $262.8 million a year ago, with comparable sales down 6.3%.
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Tariff Refund Lifts Profit
A one-time $11.1 million IEEPA tariff refund boosted net income to $5.2 million ($0.05/share) and Adjusted EBITDA to $23.3 million; excluding the refund, Adjusted EBITDA was $12.1 million.
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Full-Year Guidance Raised
FY2026 net sales guidance set at $940M-$960M and Adjusted EBITDA at $76M-$86M, up solely due to the tariff refund; underlying outlook unchanged.
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Store Closures Continue
Closed 6 stores in Q2 as part of the Store Footprint Optimization Project; total store count now 457 versus 575 a year ago.
Analysis · CURV · Trade & Services
Torrid's second quarter presents a mixed picture: net sales dropped 11.8% to $231.7 million, but a one-time $11.1 million IEEPA tariff refund pushed net income to $5.2 million and Adjusted EBITDA to $23.3 million. Excluding that benefit, Adjusted EBITDA was only $12.1 million, down sharply from $21.5 million a year ago. Management raised full-year guidance solely because of the tariff refund, while underlying sales trends remain weak with comparable sales down 6.3%. The company continues closing stores as part of its optimization plan, ending the quarter with 457 locations versus 575 a year earlier.
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At the time of this filing, CURV was trading at $2.33 on NYSE in the Trade & Services sector, with a market capitalization of approximately $221.9M. The 52-week trading range was $0.94 to $2.86. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.