Torrid Holdings Inc. (CURV) stock prices surged by 27.10% some time after market trading commenced on September9th 2021. This brought the price per share up to USD$23.42 early on in the trading day.
CURV Stock’s Stellar Q2 2021
The company reported a promising second quarter of fiscal 2021, consolidated by the successful completion of its IPO. CURV stock’s success is attributable to its focus on both fit and on delivering an unmatched customer experience. The company is aiming to be the industry leader in direct-to-consumer apparel and intimates brand for women sizes 10 to 30. Management is confident that a favorable mix of market conditions and business strategy will facilitate a continued trajectory of success.
Net Sales Reports
Net sales for the second quarter of fiscal 2021 were reported by CURV stock at USD$332.9 million. This is a 34% year over year increase from the USD$249.2 million reported in the prior year quarter. The second quarter of 2019 reported net sales in the amount of USD$257.4 million, representing a 29% increase in Q2 2021. The yearly increases were largely driven by the continued growth in the company’s e-Commerce business. The gains were also consolidated by improvements in store productivity trends. Comparable sales were up 30% in Q2 2021 as compared to Q2 2020.
Gross Profit and Margin
Gross profits for Q2 2021 were reported in the amount of USD$149.7 million. This represents an increase of 87% from the USD$80 million reported for the second quarter of fiscal 2020. Q2 2021 gross profit was 46% higher than the 102.5 million reported in the corresponding quarter in 2019. Gross margin for the 2021 quarter came in at 45%. This represents a 1,290 basis point increase from reports from Q2 2020 and a 520 basis point increase from Q2 2019. The yearly increase was largely attributable to less discounting in the 2021 quarter.
CURV Stock’s Liquidity Position
CURV stock reported a solid liquidity position as of the end of the second quarter of fiscal 2021. The company reported cash and cash equivalents in the amount of USD$50.5 million as of July 31st 2021. This is comparable to the USD$123 million reported as of December 31st 2020.
Future Outlook for CURV Stock
The company reported a stellar quarter, evidenced by the immense success of its financial reports for Q2 2021. CURV stock is poised to capitalize on the immense momentum generated, which it hopes will see it through another several successful quarters. Investors are hopeful that management will be able to usher in consistent organic growth over the long term.
