Torrid Stock Plummets On Q4, FY21 Outlook Cut

Torrid Holdings Inc CURV has cut its fourth-quarter sales outlook to $300 million - $305 million (previous view $325 million - $335 million), below the consensus of $331.49 million.
The company sees Q4 adjusted EBITDA of $23 million - $25 million (prior view $35 million - $40 million).
Torrid expects FY21 revenue of $1.265 billion - $1.270 billion (previously $1.29 billion - $1.30 billion), below the consensus of $1.3 billion.
The company sees FY21 adjusted EBITDA of $240 million - $242 million (prior $252 million - $257 million).
"We had a strong start to our fourth quarter, however, the spread of the omicron variant negatively impacted performance largely due to labor challenges at both our distribution center and a portion of our stores," said CEO Liz Muñoz.
Price Action: CURV shares are trading lower by 18.8% at $8.69 on Monday's last check.