Torrid planned to close 180 stores after plus-size sales slipped to online rivals

Torrid, the plus-size women's apparel retailer founded in 2001, grew to become a dominant name in its niche, reaching $1.29 billion in annual revenue by fiscal 2022. The company went public on the NYSE in July 2021 under the ticker CURV, riding a wave of investor enthusiasm for apparel brands with loyal customer bases.

By 2025, the business was under severe pressure. In Q3 2025, net sales fell 10.8% year over year with a net loss of $6.4 million. The company carried $35 million in annual interest and $17.5 million in amortization costs against a shrinking revenue base. Credit ratings agencies placed Torrid deep in junk territory — Moody's Caa1, S&P CCC+ — reflecting an unsustainable capital structure. Sales declines, merchandising missteps, and tariff pressures compounded the problem.

In June 2025, Torrid announced plans to close approximately 180 stores — roughly 30% of its fleet — as more than 60% of its sales had shifted online. By Q3 2025, 74 stores had already been shuttered. The retailer also brought lower price points to nearly a third of its assortment in an attempt to stem customer losses. Q4 2025 sales tumbled a further 14%. The closures continued into 2026 as the plus-size segment faced additional uncertainty from the impact of GLP-1 weight-loss drugs on apparel sizing trends.