logo
Plus-size clothing retailer to close nearly 180 stores across US this year

Plus-size clothing retailer to close nearly 180 stores across US this year

Time of India13-06-2025

Plus-size clothing retailer
Torrid
says it may close up to 30 per cent of its retail locations--close up to 180 underperforming stores-- this year as the company aims to reduce fixed costs and reinvest in long-term growth. The announcement came during a recent earnings report issued June 5.
Torrid CEO, Lisa Harper said 70 per cent of the company's total demand is now coming from online shopping. The brand is known for direct-to-consumer apparel, intimates, and accessories for women sizes 10 to 30.
Torrid to shut multiple stores in US
Founded in 2001, clothing brand Torrid targets younger demographic of plus-size consumers and over the years, it has evolved into a standalone brand with more than 600 stores across the United States, the brand's website reveals. Torrid offers trendy and professional clothing designed exclusively for plus-size women.
The store closures are a part of Torrid's move to a more digital-forward approach, the June 5th report said. Torrid CEO Lisa Harper said in a news release the retailer experienced a nearly 5 per cent decrease in first quarter sales compared to 2024. Since January, Torrid has already closed two locations, making the chain's total store count 632.
Torrid debuted its first New York Fashion Week collection in 2017. "We're accelerating our transformation to a more digitally led business, which includes optimizing our retail footprint," Harper said. As of June 10, Torrid has not shared which locations would be closing. Torrid did not immediately respond for comment about the closures when contacted by USA TODAY.
Torrid posted a net sales decrease of 4.9 percent in its first-quarter earnings report and it fell from USD 279 million for the first quarter of last year to USD 266 million this year. The company also reported a net loss of USD 7.3 million, compared to a USD 11.8 million profit during the same period in 2024.
The closures "better align our current demand and sales channels," the report said.
"We remain in a strong financial position and are executing with clarity and focus," Harper said. "I'm incredibly proud of our team's commitment to delivering innovative product, deepening customer connections, and building a more agile, resilient business for the future."
Christine Murphy, who has advocated online for the plus-size clothing industry since 2016, told USA TODAY that she was "devastated" to learn of the store closures. She said "a good chunk" of her closet is from Torrid, not out of choice, but because it's one of the only remaining brick-and-mortars that offers her size.
Despite the closures, the company reported first-quarter results that met expectations. Torrid reaffirmed its full-year 2025 outlook, anticipating net sales between USD 1.030 billion and USD 1.055 billion.
While store closures are planned for the year, the timeline for winding down operations remains uncertain.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

With its stock in sharp decline, Trump's media company will buy USD 400 million of its shares
With its stock in sharp decline, Trump's media company will buy USD 400 million of its shares

Economic Times

time33 minutes ago

  • Economic Times

With its stock in sharp decline, Trump's media company will buy USD 400 million of its shares

President Donald Trump's media company plans to buy back up to USD 400 million of its stock, which have lost 46 per cent of their value this year. ADVERTISEMENT Trump Media and Technology Group, which operates the Truth Social media platform, said Monday that the acquisition will improve its financial flexibility. It will retire the shares after they are purchased, meaning these particular shares can't be reissued. Companies can drive their stock higher by acquiring or removing the number of company shares outstanding. Trump is the largest stakeholder in Trump Media, with about 114 million shares. Shares of Trump Media rose just over 2 per cent Monday. But the shares appeared to peak about a month after the company went public in late March. Shares have been on a steady, downward trajectory since. The company said early this year that it lost USD 400.9 million in 2024 and its annual revenue declined 12 per cent to USD 3.6 million. After winning the US presidential election in November, Trump transferred all of his shares in the company - worth around USD 4 billion on paper - as a gift to the Donald J. Trump Revocable Trust. Trump's shares amounted to more than half of the company's stock. ADVERTISEMENT The company said Monday that it will fund the buyback separately from its Bitcoin treasury strategy. Under that plan, institutional investors will buy USD 2.5 billion in the company's stock with the proceeds going to build up a bitcoin reserve. Trump Media joins other companies with similar cryptocurrency strategies, including cloud and mobile software developer MicroStrategy, which is building a reserve containing billions worth of bitcoin. (You can now subscribe to our ETMarkets WhatsApp channel)

Strait of Hormuz: Oil supply not an issue for India; 'pricing is a bigger concern,' what experts say
Strait of Hormuz: Oil supply not an issue for India; 'pricing is a bigger concern,' what experts say

Time of India

time43 minutes ago

  • Time of India

Strait of Hormuz: Oil supply not an issue for India; 'pricing is a bigger concern,' what experts say

Oil supply through the crucial Strait of Hormuz is unlikely to be affected, even though conflict in the Middle-East continues to escalate and crude prices continue to rise. The region remains tense after the recent US strike on Iran, but there is hope that oil supply routes will continue to operate without disruption, experts told ANI. Former HPCL chairman MK Surana said India has reduced its reliance on oil from this region, but warned that any disruption could still push global prices up. 'Any disruption in the Straits and Middle East supply will definitely affect crude oil prices globally. Therefore, for India, pricing is a bigger concern than the availability,' he said. Any immediate disruption to oil supplies passing through the Strait of Hormuz is unlikely, adding, 'General understanding and hope is that the supply chain through the Straits of Hormuz will not get blocked in reality and Iran will not precipitate actions that will damage any oil infrastructure in the neighbouring countries.' As long as these two situations are maintained, crude prices are unlikely to go above the $80 range, though there may be occasional spikes depending on news flow. However, in case these two conditions become reality, prices will rally sharply, he said. Surana noted that under normal supply-demand conditions and without the current geopolitical tensions, crude oil prices would typically range between $60 and $ 65 per barrel. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Energy expert Narendra Taneja said that the Strait of Hormuz has never been closed before and any move by Iran to block it would invite strong international backlash. 'Almost 39 per cent of our oil import tankers pass through the Strait of Hormuz. So, the impact on India would be there, but our biggest worry is the price, not the supply or availability. If Iran is allowed to succeed in blocking the Strait, oil prices may go up to USD 150 per barrel.' Bank of Baroda's chief economist Madan Sabnavis said short-term price hikes won't hurt India much, but prolonged surges above $100 a barrel could slow the economy. 'A 10 per cent increase may not have much of an impact on the economy where the fundamentals are robust. But if it is over USD 100 for a prolonged period of time, it would mean virtually a 25 per cent increase over the base case assumption and can have a major impact on these variables." Ajay Srivastava of GTRI warned that India is highly exposed if the Strait shuts, with two-thirds of its oil and half its LNG passing through it. In case the Strait is closed, it could spike prices, inflation and government spending. Union petroleum minister Hardeep Singh Puri, however, assured that India is prepared. 'We had diversified the sources of supply. Out of the 5.5 million barrels of crude oil that India consumes daily, about 1.5 to 2 million come through the Straits of Hormuz. We import roughly 4 million barrels through other routes,' he said. He further added that the oil marketing companies have sufficient stocks, with most having stored for up to three weeks. Another company was reported to have a supply sufficient for 25 days. 'We can increase the supply of crude through other routes. We are in touch with all possible actors.' With tensions in the Middle East persisting, India and global markets are keeping a close eye on the situation, hoping the crucial Strait of Hormuz remains open to prevent a steep surge in crude oil prices. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

With its stock in sharp decline, Trump's media company will buy USD 400 million of its shares
With its stock in sharp decline, Trump's media company will buy USD 400 million of its shares

Time of India

timean hour ago

  • Time of India

With its stock in sharp decline, Trump's media company will buy USD 400 million of its shares

Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel President Donald Trump 's media company plans to buy back up to USD 400 million of its stock, which have lost 46 per cent of their value this Media and Technology Group, which operates the Truth Social media platform, said Monday that the acquisition will improve its financial flexibility. It will retire the shares after they are purchased, meaning these particular shares can't be can drive their stock higher by acquiring or removing the number of company shares outstanding. Trump is the largest stakeholder in Trump Media, with about 114 million of Trump Media rose just over 2 per cent Monday. But the shares appeared to peak about a month after the company went public in late March. Shares have been on a steady, downward trajectory company said early this year that it lost USD 400.9 million in 2024 and its annual revenue declined 12 per cent to USD 3.6 winning the US presidential election in November, Trump transferred all of his shares in the company - worth around USD 4 billion on paper - as a gift to the Donald J. Trump Revocable Trust. Trump's shares amounted to more than half of the company's company said Monday that it will fund the buyback separately from its Bitcoin treasury strategy. Under that plan, institutional investors will buy USD 2.5 billion in the company's stock with the proceeds going to build up a bitcoin Media joins other companies with similar cryptocurrency strategies, including cloud and mobile software developer MicroStrategy, which is building a reserve containing billions worth of bitcoin.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store