William Blair initiated research coverage of Torrid Holdings Inc. (CURV $22.73). Torrid is a fast-growing, omnichannel retailer of apparel, intimates, and accessories dedicated to plus-size women, offering mostly exclusive brands and in-house designs with a particular focus on fit.
Analyst Dylan Carden estimated that the company would earn $0.43 per share in 2021 and $0.99 per share in 2022.
“Torrid is one of the few apparel retailers specifically targeting the plus-size market, representing a roughly $85 billion industry in the United States,” Carden said. “Although nearly 70% of the U.S. population is categorized as size 10 and above, spending for this segment is sub-50% of apparel spend, reflecting an underserved customer with a lack of options. The competitive field opened wider with recent closures of legacy plus-size retailers and the decision by more traditional straight-size retailers to scale down or abandon their own forays into the plus-size market.”
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Current Ratings Distribution (as of 7/23/21)
Outperform (Buy): 77%
Market Perform (Hold): 23%
Underperform (Sell): 1%
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Outperform (Buy): 30%
Market Perform (Hold): 11%
Underperform (Sell): 0%
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