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Torrid Stock Plummets On Q4, FY21 Outlook Cut

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  • Torrid Holdings Inc (NYSE: CURV) has cut its fourth-quarter sales outlook to $300 million - $305 million (previous view $325 million - $335 million), below the consensus of $331.49 million.

  • The company sees Q4 adjusted EBITDA of $23 million - $25 million (prior view $35 million - $40 million).

  • Torrid expects FY21 revenue of $1.265 billion - $1.270 billion (previously $1.29 billion - $1.30 billion), below the consensus of $1.3 billion.

  • The company sees FY21 adjusted EBITDA of $240 million - $242 million (prior $252 million - $257 million).

  • "We had a strong start to our fourth quarter, however, the spread of the omicron variant negatively impacted performance largely due to labor challenges at both our distribution center and a portion of our stores," said CEO Liz Muñoz.

  • Price Action: CURV shares are trading lower by 18.8% at $8.69 on Monday's last check.

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