URGENT UPDATE: Torrid, a major plus-size women’s apparel retailer, has just confirmed the closure of nearly 200 stores across the United States as part of a dramatic restructuring effort. This move comes as the company aims to streamline operations and adapt to shifting consumer preferences, with closures beginning this month.
The retailer, which has struggled recently with a 10.8% drop in net sales to $235.2 million compared to last year, is on track to close around 180 locations by the end of its fiscal year in February 2025. Key stores affected include locations in Peoria, Illinois, Cherry Hill, New Jersey, and one near Sacramento, California, with the Cherry Hill and Sacramento stores already shuttered on January 19.
Torrid’s CEO, Lisa Harper, addressed the closures in a recent earnings call, stating, “We’re accelerating our transformation to a more digitally-led business, which includes optimizing our retail footprint.” Harper emphasized that this strategy is aimed at reducing fixed costs while investing in long-term growth areas such as customer acquisition and omnichannel enhancements.
Despite the store closures, Harper expressed optimism regarding Torrid’s financial position. “We remain in a strong financial position and are executing with clarity and focus,” she added. The company plans to focus more heavily on its online business, as approximately 70% of its customers prefer shopping online rather than in-store.
However, uncertainty looms over the total number of closures as a spokesperson for Torrid indicated that specific details are not fully confirmed. “At this time, we know that some store closures are planned. However, we do not have confirmed details on exactly how many stores will be affected or which specific locations may close,” they stated.
This urgent shift comes in light of ongoing challenges faced by Torrid, with Harper admitting that the company had experienced “missteps” in its overall assortment mix. As the retail landscape continues to evolve, the focus on digital sales may prove crucial for Torrid’s survival.
As the situation develops, consumers and employees alike are left wondering about the future of their local Torrid stores. Keep an eye on this story for further updates on the retailer’s transformation and impact on communities nationwide.
