“Torrid Holdings (NYSE:CURV) defied heavy bets against the stock to tick higher on Wednesday.The plus-sized clothing retailer reportedEPS of $0.23 and $328.4M in revenue for the first quarter, coming in above estimates set at $0.20 and $303.97M respectively. While gross profit margin contracted by an inauspicious 640 basis points from the prior year and pressure is likely to persist, management indicated confidence in the road ahead and reaffirmed guidance.“We exceeded our sales and EBITDA guidance in the first quarter while lapping last year’s stimulus and managing gross margin compression created by supply chain challenges and inflationary pricing pressures,” CEO Lisa Harper said. “As we look forward, our top priority is to continue to drive sustainable and profitable growth for the business.”For the full year, management expects net sales to come in between $1.3B and $1.365B alongside an EBITDA range between $195M and $220M. Analysts expect $1.34B for full year sales.”
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