Torrid (NYSE:CURV) stock is running higher on Thursday following the release of the apparel and intimate retailer’s earnings report for the second quarter of 2021.
The positive news for CURV stock starts off with adjusted earnings per share of 36 cents. That’s great news as it shatters Wall Street’s estimate of 17 cents for the period. It also represents a major increase over the 8 cents reported in Q2 2019. Torrid is comparing results to 2019 as 2020 saw a major increase in business due to lockdowns.
Next up we have to talk about Torrid’s revenue of $332.9 million in its most recent quarter. This is another boon to CURV stock as it easily surpasses analysts’ estimates of $294.74 million. It’s also worth pointing out that it’s a 29% jump from Q2 2019.
George Wehlitz, CFO of Torrid, said the following in the earnings report sending CURV stock up today.
“The strategies we have in place are driving strong growth in new customers as well as sales per customer. While we continue to benefit from the momentum in consumer demand, we are carefully monitoring the global supply chain challenges that are expected to persist into the back half of the year, and we are taking actions to mitigate the impact on our business.”
Torrid also includes a strong outlook in its most recent earnings report. It includes revenue ranging from $1.29 billion to $1.31 billion for 2021. This would have it beating out Wall Street’s revenue estimate of $1.26 billion. The company also notes plans to open 25 new stores this year.
CURV stock was up 28.7% as of Thursday afternoon.
There’s plenty of other earnings reports worth looking into below!
Several companies have released earnings recently but not all of them are heading higher as a result. A few for investors to check in on include GameStop (NYSE:GME), Rocket Lab (NASDAQ:RKLB), and Lululemon Athletica (NASDAQ:LULU). You can find all of those at the following links!
More Recent Earnings Reports
- GME Stock: What GameStop Investors Are Saying as Shares Slide Today
- RKLB Stock: 11 Reasons Why Rocket Lab Is Blasting Off Today
- LULU Stock: Why Analysts Are Hyping Up Lululemon Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
