Plus-size clothing retailer Torrid aims to slash its retail footprint by 30 per cent by closing around 180 stores in order to adapt to declining sales, particularly within shopping malls.
A specialist in sizes 10-30 for women, Torrid currently operates over 630 stores, with approximately 65 per cent located in malls.
A key factor in this strategic shift is the changing consumer landscape: current estimates indicate that up to 70 per cent of Torrid's new demand originates from online shoppers. This growing preference for e-commerce makes traditional mall-based operations less lucrative for the brand. Compounding this, around 60 per cent of Torrid's store leases are nearing renewal, providing an opportune moment for the company to reassess its physical presence.
Despite the significant closures, Lisa Harper, CEO, maintains, the brand is in a ‘strong financial position.’ The company plans to refresh about 135 existing brick-and-mortar stores to enhance the shopping experience for remaining in-person customers. This move signals a clear pivot towards a more digitally-led business model for Torrid.
