Shifts In Consumer Spending Patterns Drive Downgrade For Torrid Holdings
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Dana Telsey downgraded Torrid Holdings Inc. (NYSE:CURV) from Outperform to Market Perform and lowered the price target from $5 to $3. The downgrade is due to disappointing Q1 results, management turnover, and a lack of visibility around consumer health.
June 08, 2023 | 5:50 pm
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Torrid Holdings downgraded by Telsey Advisory Group due to disappointing Q1 results, management turnover, and a lack of visibility around consumer health.
The downgrade is based on Torrid Holdings' disappointing Q1 results, with sales and gross margin falling short of consensus forecasts. Additionally, the company has experienced significant management turnover in the past year, which may require more time to stabilize the business. The analyst also cites a lack of visibility around consumer health as a reason for the downgrade. These factors are likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100