Ardent Reports Third Quarter financial 2023 Results

A direct- to- consumer vesture, compadres, and accessories brand in North America for women sizes 10 to 30, moment blazoned its fiscal results for the quarter ended October 28, 2023.

Lisa Harper, Chief Executive Officer, stated, “ Our third quarter results came in ahead of our prospects on both the top and nethermost lines. Our guests responded to our new collections, as well as to our new marketing enterprise, which drove advancements in our business trends in our stores and online, leading to successional enhancement in our similar store deals. While we know we’ve further work to do, we’re encouraged by the trends in our business. still, given the current terrain, which is promotional and dynamic, we’re planning our business consequently. We’ll remain focused on controlling charges and force to position us to continue to deliver enhancement in our results.”

In a separate release, the Company blazoned the creation of Paula Dempsey to the part of Chief Financial Officer( CFO).Ms. Dempsey served as the interim CFO until her creation on December 4, 2023.

fiscal Highlights for the Third Quarter of financial 2023

Net deals dropped8.3 to$275.4 million compared to$300.2 million for the third quarter of last time. similar deals( 2) dropped 8 in the third quarter.
Gross profit periphery was33.2 compared to34.0 in the third quarter of last time. The 80- bps decline was primarily driven by a drop in PLCC finances and deleverage of store residency costs as a result of lower net deals.
Net loss of$2.7 million, or($0.03) per share, compared to net income of$7.3 million, or$0.07 per share in the third quarter of last time.
Acclimated EBITDA( 1) was$19.4 million, or7.0 of net deals, compared to$32.1 million, or10.7 of net deals, in the third quarter of last time.
In the third quarter, we opened five Ardent stores and closed one Ardent store. The total store count at quarter end was 643 stores.
Third Quarter financial 2023 Financial and Operating Metrics

A)

Please relate to”Non-GAAP Reconciliation” for a conciliation of net( loss) income to Acclimated EBITDA( 1).

Balance distance and Cash Flow

Cash and cash coequals for the three months ended October 28, 2023 totaled$16.0 million. Total liquidity at the end of the third quarter, including available borrowing capacity under our revolving credit agreement, was$153.5 million.

Cash inflow from operations for the nine- month period ended October 28, 2023 was$33.7 million, compared to$53.9 million for the nine- month period ended October 29, 2022.

Three Months Ended

in thousands, except probabilities)

October 28, 2023

October 29, 2022

similar deals

8

8

Net( loss) income

2,748

Acclimated EBITDA( A)

Outlook

For the fourth quarter of financial 2023 the Company expects

Net deals between$ 267 million and$ 283 million.
Acclimated EBITDA( 1) between$ 9 million and$ 13 million.
For the full time financial 2023 the Company expects

Net deals between$1.125 billion and$1.140 billion.
Acclimated EBITDA( 1) between$ 99 million and$ 103 million.
Capital expenditures between$ 25 million and$ 30 million reflecting structure and technology investments as well as between 34 and 36 new stores for the time.
The below outlook is grounded on several hypotheticals, including, but not limited to, the macroeconomic challenges in the assiduity in financial 2023 as well as advanced labor costs, which are anticipated to be more pronounced this time compared to 2022. See “ Forward- Looking Statements ” for fresh information.

Conference Call Details

A conference call to bandy the Company’s third quarter financial 2023 results is listed for December 7, 2023, at 430p.m. ET. Those who wish to share in the call may do so by telephoning(877)407-9208 or(201)493-6784 for transnational guests. The conference call will also be webcast live at https//investors.torrid.com. For those unfit to share, a renewal of the conference call will be available roughly three hours after the conclusion of the call until December 14, 2023.

Notes

1)

Acclimated EBITDA is anon-GAAP fiscal measure. See “Non-GAAP fiscal Measures ” and “Non-GAAP Reconciliation ” for fresh information onnon-GAAP fiscal measures and the accompanying table for a conciliation to the most similar GAAP measure. The Company doesn’t give rapprochements of the forward- lookingnon-GAAP measures of Acclimated EBITDA to the most directly similar forward- looking GAAP measure because the timing and quantum of barred particulars are unreasonably delicate to completely and directly estimate. For the same reasons, the Company is unfit to address the probable significance of the unapproachable information, which could be material to unborn results.

2)

similar deals for any given period are defined as the deals of Torrid’se-Commerce operations and stores that it has included in its similar deals base during that period. The Company includes a store in its similar deals base after it has been open for 15 full financialmonths. However, it’s only included in the calculation of similar deals for the full financial months in which it was open, If a store is closed during a financial time. Partial financial months are barred from the calculation of similar deals. similar deals allow the Company to estimate how its unified commerce business is performing exclusive of the goods of new store openings. The Company applies current time foreign currency exchange rates to both current time and previous time similar deals to remove the impact of foreign currency change and achieve a harmonious base for comparison.

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