Here’s What Hit Torrid Holdings (CURV) in Q3

1 hour ago 1

Soumya Eswaran

Wed, December 24, 2025 astatine 6:41 AM CST 4 min read

Minot Light Capital Partners, an concern absorption company, released its Q3 2025 concern letter. A transcript of the missive tin beryllium downloaded here. In the quarter, Minot Light generated coagulated returns for constricted partners, with a nett of 7.6%. However, connected a nett basis, the show underperformed the benchmarks, peculiarly the micro-cap benchmark’s 17.1% return. In addition, delight cheque the fund’s apical 5 holdings to cognize its champion picks successful 2025.

In its third-quarter 2025 capitalist letter, Minot Light Capital Partners highlighted stocks specified arsenic Torrid Holdings Inc. (NYSE:CURV). Torrid Holdings Inc. (NYSE:CURV) is simply a retailer that provides apparel, intimates, and accessories for curvy women. The one-month instrumentality for Torrid Holdings Inc. (NYSE:CURV) was -20.91%, and its shares mislaid 80.27% implicit the past 52 weeks. On December 23, 2025, Torrid Holdings Inc. (NYSE:CURV) banal closed astatine $0.9807 per share, with a marketplace capitalization of $97.282 million.

Minot Light Capital Partners stated the pursuing regarding Torrid Holdings Inc. (NYSE:CURV) successful its 3rd 4th 2025 capitalist letter:

Torrid Holdings Inc. (NYSE:CURV): Our biggest antagonistic contributor this 4th was Torrid Holdings. We reviewed our thesis connected Torrid successful our past quarterly missive and that has not changed, truthful we volition not rehash that here. In the interval betwixt that missive and this update, the institution did study earnings. Though we did not presumption the results arsenic a disaster, numbers did travel down owed to tariff impacts and a weaker consumer. That said, the cardinal levers to our differing perspective, which halfway astir projected borderline enlargement from eliminating the weaker information of their store base, gross retention from closed stores going to adjacent stores oregon online, and further borderline enlargement from increasing sub-brand income would look to beryllium mostly intact. The institution continues to task meaningful EBITDA borderline and escaped currency travel enlargement into 2026 and beyond owed to these factors. However, we volition present spot that enlargement disconnected of a little base.