Torrid — an apparel, intimates and accessories brand that caters to women's sizes 10 to 30 — announced it will be closing nearly 200 of its stores.
The announcement was made by the brand's CEO, Lisa Harper, during its first quarter financial report.
Harper said customers are continuing to gravitate towards Torrid's consumer website, approaching nearly 70% of its demand.
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"We're accelerating our transformation to a more digitally-led business, which includes optimizing our retail footprint. We now plan to close up to 180 underperforming stores this year—allowing us to reduce fixed costs and reinvest in areas that drive long-term growth, including customer acquisition and omnichannel enhancements," said Harper.
According to its financial report, Torrid closed two stores during its first quarter of this year, leaving a total of 632 locations.
The primarily plus-size brand's net sales decreased by 4.9% year-over-year in the first quarter.
Torrid did not specify which 180 stores will be closing or when they are expected to be shuttered. The company has multiple stores in Florida, including Wellington, Jensen Beach and Port St. Lucie.
