Torrid, a popular plus-size clothing retailer that operates more than 600 stores across the United States, including one in the Staten Island Mall, New Springville, has announced it could close approximately 180 stores this year — nearly 30% of its brick-and-mortar operations.
“We’re accelerating our transformation to a more digitally led business, which includes optimizing our retail footprint,” CEO Lisa Harper shared in the company’s recent Q1 investors report. “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.”
Harper noted that some 70% of the trendy clothing retailer’s demand comes from online sales, and these closure plans are a means of acknowledging those shifting shopping patterns.
Harper said that, despite the closures, Torrid has seen “positive results, exceeding expectations” with its “sub-brand strategy,” which includes the launches of Lovesick and Studio Luxe, two new brands that the fashion label recently introduced.
A full list of store closures has not yet been released, and the company did not offer details about timing.