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Torrid

Logo: Image from http://img.hottopic.com/is/image/HotTopic/torridlogo?fmt=png-alpha, Non-free logo, via Wikipedia5

American retail chain

Torrid Holdings Inc. is an American women's retail chain formerly owned by Hot Topic.3 From Wikipedia, CC BY-SA 4.0

$2.44 up 0.06 (2.52%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 18, 2026.

Overview

$1.0BRevenue, fiscal 20266
-$7.0MNet income, fiscal 20266
2001Founded1

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  • TickerCURV on NYSE1
  • Industryclothing industry, retail1
  • HeadquartersCity of Industry1
  • Websitewww.torrid.com
  • Business address18501 E. San Jose Avenue, City Of Industry, Ca 917487
  • Filer categoryAccelerated filer, Smaller reporting company7

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Torrid Holdings Inc. is an American women's retail chain formerly owned by Hot Topic. While it is still owned by Sycamore Partners, owners of Hot Topic, in 2015, the company branched off to become Torrid, LLC. The store offers plus-size clothing and accessories for women size 10-30. Torrid began operations in April 2001.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

34.8%Gross margin6
2.1%Operating margin6
-0.7%Net margin6
-9.4%Revenue growth, 20266
-$21.9MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Apparel brought in 91% of the revenue Torrid broke down this way in fiscal 2026.

  1. Apparel$913.5M691%down 8% from 2025
  2. Non-apparel$52.9M65%down 36% from 2025
  3. Other$33.7M63%up 5% from 2025
  4. Gift Cards$700.0K60%down 12% from 2025
Products and services by year
Products and services202420252026
Apparel$1.0B$989.2M$913.5M
Non-apparel$93.5M$82.5M$52.9M
Other$34.0M$32.0M$33.7M
Gift Cards$900.0K$800.0K$700.0K

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue65¢$652.1M
  • Selling, general and admin27¢$269.2M
  • Other costs8¢$76.3M
  • Income tax0¢$2.5M

Out of $1.0B in revenue.6 The company lost money this year.

Financial statements

Revenue910116$1.0B in 2026−4% since 2020
0$500.0M$1.0B$1.5B2020: $1.0B$1.0B20202021: $984.2M$984.2M2021−5%2022: $1.3B$1.3B2022+32%2023: $1.3B$1.3B2023−1%2024: $1.2B$1.2B2024−11%2025: $1.1B$1.1B2025−4%2026: $1.0B$1.0B2026−9%
Gross profit910116$348.0M in 2026−12% since 2020
0$200.0M$400.0M$600.0M2020: $396.1M$396.1M20202021: $341.0M$341.0M2021−14%2022: $537.4M$537.4M2022+58%2023: $459.5M$459.5M2023−14%2024: $406.0M$406.0M2024−12%2025: $413.5M$413.5M2025+2%2026: $348.0M$348.0M2026−16%
Operating income910116$21.4M in 2026−72% since 2020
0$50.0M$100.0M$150.0M2020: $77.0M$77.0M20202021: $56.8M$56.8M2021−26%2022: $45.4M$45.4M2022−20%2023: $101.6M$101.6M2023+124%2024: $57.1M$57.1M2024−44%2025: $57.2M$57.2M2025+0%2026: $21.4M$21.4M2026−63%
Net income91012116-$7.0M in 2026
-$50.0M-$25.0M0$25.0M$50.0M$75.0M2020: $41.9M$41.9M20202021: $24.5M$24.5M2021−41%2022: -$29.9M-$29.9M20222023: $50.2M$50.2M20232024: $11.6M$11.6M2024−77%2025: $16.3M$16.3M2025+40%2026: -$7.0M-$7.0M2026

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2026-01-312025-01-312024-01-31
Net sales$1.0B$1.1B$1.2B
Cost of goods sold$652.1M$690.3M$746.0M
Gross profit$348.0M$413.5M$406.0M
Selling, general and administrative expenses$269.2M$302.0M$293.3M
Marketing expenses$57.4M$54.2M$55.5M
Income from operations$21.4M$57.2M$57.1M
Interest expense$31.8M$35.6M$39.2M
Interest income, net of other (income) expense-$882.0K-$28.0K-$90.0K
(Loss) income before (benefit from) provision for income taxes-$9.6M$21.6M$18.0M
(Benefit from) provision for income taxes-$2.5M$5.3M$6.4M
Net (loss) income-$7.0M$16.3M$11.6M
Basic (in USD per share)-$0.07$0.16$0.11
Diluted (in USD per share)-$0.07$0.15$0.11
Basic (in shares)101.4M shares104.6M shares104.0M shares
Diluted (in shares)101.4M shares105.7M shares104.4M shares
Foreign currency translation adjustment$292.0K-$585.0K-$52.0K
Total other comprehensive income (loss)$292.0K-$585.0K-$52.0K
Comprehensive (loss) income-$6.7M$15.7M$11.6M

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The story

Torrid opened its first story on April 18, 2001, in the Brea Mall in Brea, California, with plans to open additional stores in San Diego, Denver, Omaha, Boston, and Annapolis. In August 2015, the chain expanded internationally when it opened a store in Toronto, Canada.

Torrid initially filed an IPO in 2017, but ultimately chose to withdraw it. In 2018, the chain launched a lingerie collection alongside model Tara Lynn.

In July 2021, the company went public on the New York Stock Exchange, under the symbol CURV. It had 608 stores at the time.

By 2024, Torrid had over 650 stores in operation across all states in the United States and some regions of Canada. In June 2025, it was announced that Torrid would close 180 of its stores, roughly 30% of its retail footprint. Several factors ultimately prompted Torrid to move forward with this decision, including over half of its retail leases expiring this year, and Q1 2025 reports showed that over 60% of its sales were online. Store count was further reduced to 457 by September 2026.

From Wikipedia’s article on Torrid Holdings, shared under CC BY-SA 4.0.8

Leadership

Who has led Torrid, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Elizabeth Munoz2021–2022
  2. Lisa M. Harper2022–now

Chief financial officer

  1. George Wehlitz2021

Chief operating officer

  1. Michael Robert Salmon2021–2022
  2. Hyon C. Park2024–now
20052010201520202025
Board members and other officers (17)

Products and brands

  • plus-size clothing

Listed on Wikidata.1

Products

The store's clothing styles are aimed at women. In 2005, Torrid expanded its merchandise selection to include styles distinct from its parent company, Hot Topic. Torrid sells accessories, shoes, jewelry, novelty tee shirts, fashion tops, pants, Capri pants, shorts, skirts, dresses, outerwear, intimate apparel, hosiery, gifts, and beauty products.

Models

In February 2014, Georgina Burke was named the first face of Torrid and signed a one-year contract. In December 2014, Philomena Kwao was signed as a second face of Torrid.

In 2015, Torrid launched their first public casting call and model search, inviting customers to apply and audition to become the next face of Torrid. Over 14,000 people auditioned, with the winner being Lyanna Lynette. Torrid held model searches until 2019 and recently restarted it again in 2024 kicking off the model search in April 2024

Torrid held its first fashion show at New York Fashion Week in September 2017.

From Wikipedia’s article on Torrid Holdings, shared under CC BY-SA 4.0.8

Timeline

  1. May 5, 2022New chief executive Lisa M. Harper becomes CEO15
  2. Jun 30, 2021New chief executive Elizabeth Munoz becomes CEO16
  3. 2001Founded Founded1

Filings

290 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 46 major events, 179 insider forms, 9 large holders, 36 other. The latest 20:

  1. Oct 5, 20264 EDGAR
  2. Sep 10, 202610-Q EDGAR
  3. Sep 4, 20264 EDGAR
  4. Sep 3, 20268-K EDGAR
  5. Aug 25, 20264 EDGAR
  6. Aug 14, 2026SCHEDULE 13G/A EDGAR
  7. Jul 17, 20264 EDGAR
  8. Jul 16, 2026144 EDGAR
  9. Jul 6, 20264 EDGAR
  10. Jul 6, 20264 EDGAR
  11. Jul 6, 20264 EDGAR
  12. Jun 11, 202610-Q EDGAR
  13. Jun 4, 20268-K EDGAR
  14. Jun 3, 20268-K EDGAR
  15. Jun 3, 20264 EDGAR
  16. Jun 3, 20264 EDGAR
  17. Jun 3, 20264 EDGAR
  18. May 7, 20264 EDGAR
  19. Apr 20, 2026ARS EDGAR
  20. Apr 20, 2026DEFA14A EDGAR

The 290 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 9 such filings since October 2021:

  1. Aug 14, 2026SCHEDULE 13G/A
  2. Nov 14, 2025SCHEDULE 13G
  3. Jul 31, 2025SCHEDULE 13G/A
  4. Jul 8, 2025SCHEDULE 13G/A
  5. May 15, 2025SCHEDULE 13G/A
  6. Dec 12, 2024SC 13G
  7. Nov 13, 2024SC 13G/A
  8. Feb 14, 2022SC 13G
  9. Feb 14, 2022SC 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 90. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Sycamore Partners Management, L.P.58,295,694$109.0M99.4%No change
Fund 1 Investments, LLC9,847,478$18.4M3.2%+119,433
Nomura Holdings Inc5,082,272$9.5M0.0%−500,017
Healthcare Of Ontario Pension Plan Trust Fund2,000,000$3.7M0.0%No change
BlackRock, Inc.1,917,282$3.6M0.0%+151,726
Vanguard Capital Management LLC1,379,474$2.6M0.0%+43,212
Morgan Stanley956,529$1.8M0.0%+926,614
Shay Capital LLC684,359$1.3M0.1%+489,947
Geode Capital Management, LLC665,130$1.2M0.0%+41,015
Aqr Capital Management LLC472,948$884.4K0.0%+258,652
Bank Of America Corp /de/459,366$859.0K0.0%−171,895
Goldman Sachs Group Inc409,422$765.6K0.0%+20,301
MUFG Securities EMEA plc400,000$748.0K0.0%New
State Street Corp345,405$645.9K0.0%−408
Two Sigma Investments, LP322,649$603.4K0.0%+70,959
Citadel Advisors LLC319,793$598.0K0.0%+283,198
Vanguard Portfolio Management LLC234,631$438.8K0.0%+37,171
Northern Trust Corp226,178$423.0K0.0%+7,777
UBS Group AG188,418$352.3K0.0%+183,481
Charles Schwab Investment Management Inc182,674$341.6K0.0%−1,644
Jb Capital Partners LP150,000$280.5K0.0%No change
Vanguard Fiduciary Trust Co128,234$239.8K0.0%+15,855
Ing Groep Nv100,000$187.0K0.0%No change
Bridgeway Capital Management, LLC95,900$179.3K0.0%+10,000
CIBC Bancorp USA Inc.76,896$143.8K0.0%−174,803

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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