Torrid Sees Wider Margins with Tariff Refunds in 2Q
Dow Jones
Sep 04
Torrid's 2Q results the plus-size retailer recorded $11.1 million in IEEPA tariff refunds as a reduction in cost of goods sold, pushing gross margin to 38.7% compared to 35.6% a year ago. Without the refund, gross margin would've been 33.9%. Meanwhile, net sales for the quarter fell 11.8% to $231.7 million, and comparable sales dropped 6.3%. CEO Lisa Harper said sales trends improved through July, citing merchandising adjustments and a strengthening inventory position in footwear.
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