Torrid Holdings Inc. Files 2024 10-K Annual Report

TL;DR

<b>Torrid Holdings Inc. has submitted its 2024 10-K, detailing financial performance and position as of February 3, 2024.</b>

AI Summary

Torrid Holdings Inc. (CURV) filed a Annual Report (10-K) with the SEC on April 2, 2024. Torrid Holdings Inc. filed its 10-K for the fiscal year ending February 3, 2024. The filing covers the fiscal year 2023, with data reported as of February 3, 2024. The company's principal business is in the retail apparel and accessory stores sector. The filing includes financial data for the fiscal years ending January 31, 2021, January 29, 2022, January 28, 2023, and February 3, 2024. Key financial elements such as common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are detailed for these periods.

Why It Matters

For investors and stakeholders tracking Torrid Holdings Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Torrid's financial health and operational performance for the fiscal year 2023, which is crucial for investors to assess the company's stability and growth prospects. The detailed financial statements and disclosures within the report allow stakeholders to understand the company's financial structure, including its debt, equity, and cash positions, as well as its revenue generation across different segments.

Risk Assessment

Risk Level: medium — Torrid Holdings Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of financial and operational information. Specific risks are detailed within the full report, but the filing itself does not inherently signal immediate high risk.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Torrid's performance and potential challenges.

Key Numbers

• 2024-02-03 — Fiscal Year End (The end date of the fiscal year reported in the 10-K.)
• 2024-04-02 — Filing Date (The date the 10-K was filed with the SEC.)
• 5600 — SIC Code (Standard Industrial Classification for Retail - Apparel & Accessory Stores.)
• 001-40571 — SEC File Number (The SEC file number associated with Torrid Holdings Inc.)

Key Players & Entities

• Torrid Holdings Inc. (company) — Filer of the 10-K report.
• 0001792781 (company) — Central Index Key for Torrid Holdings Inc.
• 2024-02-03 (date) — Fiscal year end date for the reported period.
• 2024-04-02 (date) — Filing date of the 10-K report.
• CITY OF INDUSTRY, CA (location) — Business and mailing address for Torrid Holdings Inc.
• 626-667-1002 (phone) — Business phone number for Torrid Holdings Inc.

FAQ

Key Dates

• 2024-02-03: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-02: 10-K Filing Date — Date Torrid Holdings Inc. submitted its annual report.
• 2021-07-06: IPO Date — Date of Torrid Holdings Inc.'s Initial Public Offering.

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share CURV New York Stock Exchange
• $2.73 — New York Stock Exchange on that date of $2.73 . For the purposes of this disclosure o
• $499 — sider members are those who spend up to $499 annually, while members of Torrid Loyal
• $500 — while members of Torrid Loyalist spend $500+ annually and Torrid VIP spend $1,000+
• $1,000 — end $500+ annually and Torrid VIP spend $1,000+ annually. We inspire loyalty by contin
• $2.2 million — 2023, the Torrid Foundation raised over $2.2 million in supp

Filing Documents

• thi-20240203.htm (10-K) — 1861KB
• torridholdingsincxex41xdes.htm (EX-4.1) — 28KB
• a231204-dempseypaulaxpro.htm (EX-10.29) — 1KB
• a121123-4thamendmenttoth.htm (EX-10.30) — 4KB
• a230323-mizickomarkxexecut.htm (EX-10.33) — 146KB
• exhibit211listofsubsidiari.htm (EX-21.1) — 5KB
• exhibit23consentpricewater.htm (EX-23) — 2KB
• exhibit311certificationoft.htm (EX-31.1) — 10KB
• exhibit312certificationoft.htm (EX-31.2) — 10KB
• exhibit321certificationoft.htm (EX-32.1) — 4KB
• exhibit322certificationoft.htm (EX-32.2) — 4KB
• compensationrecoverypolicy.htm (EX-97) — 31KB
• a121123-4thamendmenttoth001.jpg (GRAPHIC) — 175KB
• a121123-4thamendmenttoth002.jpg (GRAPHIC) — 46KB
• a121123-4thamendmenttoth003.jpg (GRAPHIC) — 27KB
• a231204-dempseypaulaxpro001.jpg (GRAPHIC) — 118KB
• thi-20240203_g1.jpg (GRAPHIC) — 223KB
• 0001628280-24-014351.txt (&nbsp;) — 11533KB
• thi-20240203.xsd (EX-101.SCH) — 80KB
• thi-20240203_cal.xml (EX-101.CAL) — 107KB
• thi-20240203_def.xml (EX-101.DEF) — 392KB
• thi-20240203_lab.xml (EX-101.LAB) — 856KB
• thi-20240203_pre.xml (EX-101.PRE) — 676KB
• thi-20240203_htm.xml (XML) — 1395KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 28 Item 1C. Cybersecurity 28 Item 2.

Properties

Properties 30 Item 3.

Legal Proceedings

Legal Proceedings 31 Item 4. Mine Safety Disclosures 31 PART II Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity Securities 32 Item 6. [Reserved] 33 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 51 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 52 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 90 Item 9A.

Controls and Procedures

Controls and Procedures 90 Item 9B. Other Information 90 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91 PART III Item 10. Directors, Executive Officers and Corporate Governance 92 Item 11.

Executive Compensation

Executive Compensation 92 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92 Item 13. Certain Relationships and Related Transactions, and Director Independence 92 Item 14. Principal Accountant Fees and Services 92 PART IV Item 15. Exhibit and Financial Statement Schedules 93 Item 16. Form 10-K Summary 96

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this Annual Report on Form 10-K are forward-looking statements. Forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "can have," "likely" and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). For example, all statements we make relating to our estimated and projected costs, expenditures, cash flows, growth rates and financial results, our plans and objectives for future operations, growth or initiatives, strategies or the expected outcome or impact of pending or threatened litigation are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: the adverse impact of rulemaking changes implemented by the Consumer Financial Protection Bureau on our income streams, profitability and results of operations; changes in consumer spending and general economic conditions; the negative impact on interest expense as a result of rising interest rates; inflationary pressures with respect to labor and raw materials

Business

Item 1. Business Overview Torrid Holdings Inc. ("Torrid," "we," "us," "our," the "Company") is a direct-to-consumer brand of apparel, intimates and accessories in North America aimed at fashionable women who are curvy and wear sizes 10 to 30. Torrid is focused on fit and offers high quality products across a broad assortment that includes tops, bottoms, denim, dresses, intimates, activewear, footwear and accessories. Our proprietary product offering delivers a superior fit for the curvy woman that makes her love the way she looks and feels. Our style is unapologetically youthful and sexy and we are maniacally focused on fit. We believe our customer values the appeal and versatility of our curated product assortment that helps her look her best for any occasion, including weekend, casual, work and dressy, all at accessible price points. Through our product and brand experience we connect with customers in a way that other brands, many of which treat plus-size customers as an after-thought, have not. The Torrid Approach We have created a proprietary fit that empowers our customers and drives loyalty. In turn, our loyal customers provide us with a rich set of data that allows us to improve our product and experience, thus creating a virtuous cycle that reinforces our leading position in plus-size apparel and intimates. We provide a fit she knew she wanted but never had access to; We accomplish this by fitting every single article of clothing we produce on a real woman, tailoring for her special needs, not simply "grading up" non-plus-size apparel; We utilize a proprietary sizing process that is constantly updated through data and our continuous customer feedback loop, until we fit to perfection; and We deliver unparalleled technical fit combined with unapologetic attitude and style. Product Product Offering We offer a full product assortment that addresses our customers' entire closet, including tops, bottoms, denim, dresses, intimates, activewear, footwear

View Full Filing

View this 10-K filing on SEC EDGAR