Torrid (CURV)
Designs and sells trend-driven apparel and intimates for women wearing sizes 10 to 30.
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Designs, merchandises, and sells women's plus- and mid-size apparel, intimates, and accessories in sizes 10 to 30 through owned stores and e-commerce, with digital driving the majority of demand. A private-equity sponsor that acquired the brand's original corporate parent controls a majority of voting power and can nominate most of the board.
Started in 2001 as a plus-size concept inside mall retailer Hot Topic, the business now designs and sells women's apparel and intimates in sizes 10 to 30, nearly all developed in-house under the core Torrid and Torrid Curve marks alongside newer sub-brands aimed at younger, trend-focused shoppers.
Operations run as one unified e-commerce and store network across the United States, Puerto Rico, and Canada, with online orders now driving most demand as the company closes a large share of its mall locations.
A private-equity firm that took the brand's original parent private controls a majority of voting power and can nominate most of the board, having sold down part of its stake through public offerings since the 2021 listing. Net sales have declined for three straight fiscal years.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 4, 2026 | Wells Fargo | Target | Target: — | Target: $2.70 |
| Jul 6, 2026 | Morgan Stanley | Target | Target: $1.01 | Target: $1.80 |
| Dec 4, 2025 | Morgan Stanley | Target | Target: $1.60 | Target: $1.01 |
| Dec 4, 2025 | Telsey Advisory | Target | Target: $6 | Target: $2 |
| Oct 24, 2025 | William Blair | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Aug 1, 2026Cash & short-term investments $22.0M · Total debt $417.5M · Total assets $371.4M · Shareholders' equity −$205.8M
- Revenue
- $231.7M
- Operating income
- $14.5M
- Net income
- $5.2M
No dividends on record.
| Institutions | 90.68% | 90.25M shares | |
|---|---|---|---|
| 95 holders · as of Jun 30, 2026 | |||
| Insiders | 7.05% | 7.01M shares | |
| 9 holders · as of Sep 4, 2026 | |||
| Strategic holders | 58.58% | 58.30M shares | |
| 1 holder · as of Jul 31, 2025 | |||
| Adds to | 156.31% | ||
99.52M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 156.31%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Sycamore Partners Management, L.P.Institution | 58.58% | 58.30M | as of Jun 30, 2026 |
Sycamore Partners Torrid, L.L.C.1,2Strategic10 percent owner | 58.58% | 58.30M | filed Jul 31, 2025 |
Fund 1 Investments, LLCInstitution | 9.89% | 9.85M | as of Jun 30, 2026 |
Lisa M. HarperInsiderdirector, officer: Chief Executive Officer | 5.45% | 5.42M | filed May 7, 2026 |
Nomura Holdings IncInstitution | 5.11% | 5.08M | as of Jun 30, 2026 |
- Sycamore Partners Torrid, L.L.C.'s transaction reports restate only vehicles that traded; the 2025 ownership statement (58.30M) is used instead.
- Sycamore Partners Torrid, L.L.C. reports a block also reported by Sycamore Partners Management, L.P.; it is counted once, under Sycamore Partners Management, L.P.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 2, 2026 | Ashlee Wheeler | officer: Chief Commercial Officer | −1,951 | $2.27 |
| Jul 16, 2026 | Chinwe Abaelu | officer: See Remarks | −25,401 | $2.17 |
| Apr 14, 2026 | Paula Dempsey | officer: Chief Financial Officer | −42,785 | $2.06 |
| Apr 13, 2026 | Ashlee Wheeler | officer: Chief Commercial Officer | −30,013 | $1.98 |
| Dec 3, 2025 | Fund 1 Investments, LLC | 10 percent owner | −25,000 | $1.31 |
- Victoria's Secret
Core intimates rival gaining share via inclusive-sizing Adore Me deal
- Macy's
National department store carrying a broad multi-brand plus-size assortment
- American Eagle Outfitters
Aerie brand contests intimates and loungewear with inclusive-sizing marketing
- Gap
Old Navy's size 0-30 range competes on trend apparel at mass-market prices
- Kohl's
Mid-tier department store with size-inclusive private-label plus lines
- Abercrombie & Fitch
Gilly Hicks intimates brand targets the same younger, size-inclusive shopper
- Burlington Stores
Off-price plus-size selection undercuts on price for the value-driven shopper
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Torrid | $2.39 | −1.45% | $240.8M | — | 51.4 | 0.3 | −11.8% |
| Victoria's Secret | $83.18 | −0.76% | $6.66B | 19.0 | 16.7 | 1.0 | +10.4% |
| Macy's | $22.67 | −0.48% | $5.99B | 8.4 | 10.5 | 0.3 | −2.7% |
| American Eagle Outfitters | $16.03 | +0.66% | $2.67B | 8.1 | 9.0 | 0.5 | +7.5% |
| Gap | $21.59 | +0.58% | $7.73B | 6.4 | 8.5 | 0.5 | −2.0% |
| Kohl's | $17.83 | −2.35% | $2.07B | 7.9 | 11.9 | 0.1 | −6.4% |
| Abercrombie & Fitch | $132.55 | −2.69% | $6.05B | 11.7 | 10.7 | 1.1 | +4.8% |
| Burlington Stores | $256.41 | −0.17% | $16.17B | 23.1 | 21.3 | 1.3 | +10.9% |
| Median | 8.4 | 10.7 | 0.5 | +4.8% |