Popular clothing retailer to close almost 200 more stores in 2025
Another popular clothing retailer is set to close nearly 200 locations in the US this year.
Torrid, which sells plus-size women's apparel, plans to shutter up to 180 stores 'to better align our current demand and sales channels', according to the company's report for the first quarter of 2025.
Digital sales have grown to represent almost 70% if Torrid's total demand from customers, according to CEO Lisa Harper.
'We're accelerating our transformation to a more digitally-led business, which includes optimizing our retail footprint,' stated Harper on Thursday.
'We now plan to close up to 180 underperforming stores this year—allowing us to reduce fixed costs and reinvest in areas that drive long-term growth, including customer acquisition and omnichannel enhancements.'
Torrid plans to lean on its customer base, of which 95% are enrolled in its loyalty program, to work towards a 'digital transformation' aimed at growing its revenue.
Harper added that the report for the quarter ending on May 3 shows 'results in line with expectations', including $266million in net sales.
Torrid is launching Lovesick and Studio Luxe, and projects that the sub-brands will represent almost one-third of its business by next year.
'Our sub-brand strategy is delivering positive results, exceeding expectations and helping us reach new and younger customers while driving higher margin sales,' Harper stated. More Trending
Torrid, which makes apparel for women sizes 10 to 30, has long been an American mall staple.
The company has not disclosed which locations are on the chopping block this year.
Torrid's upcoming closures come after once-reigning fast fashion clothing brand Forever 21 closed the last of its brick-and-mortar in the US early May.
Forever 21 filed for bankruptcy for the second time in six years in March and placed part of the blame on online retailers like Shein, Temu and Amazon that until recently utilized the 'de minimis exemption' to avoid paying tariffs on imported goods under $800.
Get in touch with our news team by emailing us at webnews@metro.co.uk.
For more stories like this, check our news page.
MORE: Six people killed after plane crashes into Pacific Ocean near San Diego
MORE: Two dead after gunman opens fire outside Bellagio Hotel in Las Vegas
MORE: Popular discount store announces another shop closure in blow to high street
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wales Online
8 hours ago
- Wales Online
Gareth Bale in stunning bid to buy Cardiff City
Gareth Bale in stunning bid to buy Cardiff City Bale is seemingly keen on getting back into football and is leading a consortium interested in buying Cardiff City A Gareth Bale-led consortium has made an offer for Cardiff City (Image:) Gareth Bale is leading a consortium that has made an offer to buy Cardiff City. The group fronted by the former Wales captain are understood to have sent a letter of intent to current Bluebirds owner Vincent Tan last month, outlining their eagerness to buy the club. It's believed financial figures were included, but the initial proposal has been rejected. The bid, first reported by The Athletic on Friday evening, comes days after a Bale-led US consortium were linked with interest in acquiring Plymouth Argyle. Join the Cardiff City breaking news and top stories WhatsApp community It's understood Cardiff bosses are not currently expecting a renewed offer for the club, although things could change. Current owner Vincent Tan has pledged his commitment to the Bluebirds going forward but has always said he would consider offers at the right price. Cardiff-born Bale ended his playing career in January 2023, shortly after captaining Wales at the 2022 World Cup in Qatar. He never played for his hometown club, despite them being touted as a possible destination when he left Real Madrid. Article continues below However, he would go on to sign for MLS side LAFC, where he made 14 appearances. Should he complete a deal, Bale would become the latest big name to enter the world of football ownership. Close pal and former Real Madrid team-mate Luka Modric has already taken a minority stake in Cardiff's bitter rivals Swansea City recently. Indeed, it's understood the Croatian actually sought the advice of Bale before making the move. Other notable celebrities to get involved with EFL clubs include NFL legend Tom Brady, who became Birmingham City's minority owner in August 2023. American golfers Jordan Spieth and Justin Thomas both snapped up shares in Leeds United shortly before their promotion to the Premier League in May, while Championship new boys Wrexham have obviously been under the majority ownership of Hollywood stars Ryan Reynolds and Rob McElhenney for the last four years. Cardiff are looking to build their way back to the Championship this season, and recently confirmed Brian Barry-Murphy as their new boss, after burning through three managers last season. Omer Riza was handed the job in the wake of Erol Bulut's sacking following a brief interim period, only to be sacked with three games to go. Bale's former Wales team-mate Aaron Ramsey then took charge, but was unable to stop the club sliding into the third tier. Article continues below Ramsey was touted as the man to possibly lead the club into the new season, but has since left, making way for former Manchester City coach Barry-Muprhy, who was officially unveiled to the media earlier this week.
Daily Record
12 hours ago
- Daily Record
Hamza Igamane must be sold by Rangers after transfer intel leak as 49ers 'refresh' requires major jolt
The Moroccan striker is said to boast suitors in the Premier League including Everton Rangers new owners should cash in on Hamza Igamane this summer to fund a summer rebuild at Ibrox. That is according to Pat Nevin - who reckons that the American revolution at Ibrox could need more spending power with Lyall Cameron the only new face in the building so far. The Moroccan has impressed during his first season in the Scottish Premiership netting 16 goals after a £1.7million arrival from AS FAR. Just 12 months on, the 22-year-old has been linked with the likes of Everton, Tottenham, West Ham, Newcastle United, Bournemouth, Brentford and Fulham - with Premier League scouts reportedly on red alert. It comes after Nevin claimed the Light Blues would be doing "really well" to dethrone Celtic this season after hearing intel about the figures that would be spent in the summer window. And he reckons Andrew Cavenagh and 49ers Enterprises must green light to sale to kickstart Russell Martin's squad overhaul if the likes of Everton come calling as the former Southampton boss looks to put his own stamp on the squad. Speaking to jackpot slots, the former Toffees' frontman said: "Is Hamza Igamane going to set fire to the Premier League? No. It's not like someone will be signing the next Eden Hazard. "I do think he's capable of doing a job for someone in the middle region of the division but that's probably it. "In Rangers' situation, where you've got to sign five or six players this summer, you could do with the money. 'I suppose with new owners, it means there will be a bit more available to Russell Martin but sometimes, even though you're desperate to keep one player, selling them means you can sign four more. "That's the sort of situation Rangers currently find themselves in. "It wouldn't show a lack of ambition if they sell Igamane or anything like that. It can actually help them refresh the squad and start this new era." You can get all the news you need on our dedicated Rangers and Celtic pages, and sign up to our newsletters to make sure you never miss a beat throughout the season. We're also on WhatsApp, where we bring all the latest breaking news and transfer gossip directly to your phone. Join our Rangers community here and our Celtic community here.
Wales Online
16 hours ago
- Wales Online
Plymouth Argyle issue cryptic response to shock Gareth Bale takeover links
Plymouth Argyle issue cryptic response to shock Gareth Bale takeover links The Welsh football great is reportedly part of a consortium bidding to take over the League One side Gareth Bale (Image: PA Wire ) Plymouth Argyle chief executive Andrew Parkinson has refused to rule out reports linking Gareth Bale with a sensational move into football club ownership, describing the former Real Madrid star's involvement in a takeover bid as "speculation" at this stage. Stories first published by The Telegraph earlier this week claimed that a United States-based private equity group, fronted by Bale and involving members of the Storch family, was in discussions to purchase full control of the League One club. However, Parkinson was quick to dampen the excitement surrounding the links when questioned at new head coach Tom Cleverley's unveiling at Home Park on Thursday. 'That was really speculation,' Parkinson said. 'You would expect me to say that we are not in a position to be able to talk about any individuals or any investors, but of course when we have got the opportunity to do that we will do.' While neither confirming nor directly denying contact with Bale's consortium, Parkinson reiterated majority owner Simon Hallett's long-standing openness to external investment. Hallett revealed on May 31 that a year-long negotiation with a potential investor had collapsed, and that the club continues to seek the right partners for sustainable long-term growth. Article continues below 'I think Simon has said this numerous times, it's about getting the right people to be involved in the club for the long term,' Parkinson added. 'Simon and the other shareholders have committed for this season to do that and provide the right finances across the board. We will continue discussions for the long term.' The latest reports placed Bale as the public face of the American-led group and suggested he could even assume a chairman-style role if the bid succeeded—mirroring the involvement of former teammate Luka Modric, now a minority shareholder at Swansea City. The Welshman has been out of football since confirming his retirement back in January 2023, shortly after leading his side into the World Cup in Qatar, where they were unfortunately eliminated in the group stages. He finished his club career in the US playing for Los Angeles FC and still spends a lot of time in America. Other celebrity names below the Premier League include NFL legend Tom Brady, who purchased a stake in Birmingham City before they won promotion back to the Championship last season. Meanwhile, American golfers Jordan Spieth and Justin Thomas snapped up shares in Leeds United before the club sealed their return to the Premier League. Bale has no previous connection to Plymouth, and the move would clearly come as a huge surprise, although a takeover of the Pilgrims has seemingly been on the cards for some time. Argyle's leadership, however, appear to be keen to keep expectations in check as they attempt to stabilise after a turbulent 18 months that have included five head coaches and relegation from the Championship. Parkinson said the club remains focused on bouncing back under new boss Cleverley, while also building a more robust foundation behind the scenes. 'This is about the long term,' he said. 'It's about how we grow as a football club, how we develop, how we bring players on. We want long-term growth, not just going up and down.' For Bale, whose retirement in early 2023 ended a glittering playing career—including five Champions League titles and stints with Spurs, Real Madrid and LAFC—the links to Argyle mark the latest twist in his post-football evolution. While he's since built a profile as a businessman and pundit, a role in club ownership would represent a significant step into football's boardroom. Article continues below Whether that step will come at Home Park remains to be seen. For now, Plymouth are staying tight-lipped—and Bale's potential leap from superstar to chairman remains just that: potential.
