Torrid Holdings Inc. (NYSE:CURV) Q2 2023 Earnings Call Transcript

Lisa Harper: Actually, we saw variable traffic trends in the quarter. So actually, the best traffic trends were in June and the other months were softer. So it did improve as we went through the back end of the quarter. I missed the rest of your question. Was there more?

Unidentified Analyst: I was just wondering, like, how much you attribute kind of performance to more macro conditions versus more like company-specific execution.

Lisa Harper: Okay. And that’s a very hard, I think, distinction to make. We do think there is, as everyone has discussed some level of macro pressure, that is not something that we can manage, I mean, effectively internally, meaning it’s a outside influence. What we do focus on is what we can manage internally. And so some of the things that we have talked about enhancing our casual, presentation about pricing, value pricing, opening price point, cost of goods improvement are the things we are really focusing on as an organization, and think that we have a runway there to really drive some true value in the business.

Unidentified Analyst: That’s helpful. And one more from me. We have heard from a number of companies about increased credit card delinquencies. Can you speak to any trends you are seeing in your own credit card business?

Paula Dempsey: Yes. Hi. This is Paula Dempsey. So we actually saw an improvement from a credit card delinquency on this quarter compared to the prior quarter. However, when we are looking versus the prior year, we have certainly seen an increase, just like everybody else in the industry. But at this point, we are not — it’s not something that we are extremely concerned in our business. So hopefully that answers your question.

Operator: There are no further questions at this time. And I would like to turn the floor back over to Lisa Harper for any closing comments.

Lisa Harper: Thanks for joining us today. We look forward to sharing our progress, as we move through the balance of the year and look forward to talking to you after third quarter. Thanks for joining us.

Operator: And ladies and gentlemen, this concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.