Torrid Holdings Inc
For the period ended May 4, 2024. Filed Jun 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
May 4, 2024 · Filed Jun 12, 2024
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Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets as of
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
| May 4, 2024 | February 3, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $20,465 | $11,735 |
| Restricted cash | 399 | 399 |
| Inventory | 144,808 | 142,199 |
| Prepaid expenses and other current assets | 27,032 | 22,229 |
| Prepaid income taxes | 1,592 | 2,561 |
| Total current assets | 194,296 | 179,123 |
| Property and equipment, net | 98,455 | 103,516 |
| Operating lease right-of-use assets | 153,931 | 162,444 |
| Deposits and other noncurrent assets | 15,915 | 14,783 |
| Deferred tax assets | 8,681 | 8,681 |
| Intangible asset | 8,400 | 8,400 |
| Total assets | $479,678 | $476,947 |
| Liabilities and stockholders' deficit | ||
| Current liabilities: | ||
| Accounts payable | $58,850 | $46,183 |
| Accrued and other current liabilities | 108,764 | 107,750 |
| Operating lease liabilities | 36,050 | 42,760 |
| Borrowings under credit facility | — | 7,270 |
| Current portion of term loan | 16,144 | 16,144 |
| Due to related parties | 8,519 | 9,329 |
| Income taxes payable | 5,996 | 2,671 |
| Total current liabilities | 234,323 | 232,107 |
| Noncurrent operating lease liabilities | 147,730 | 155,825 |
| Term loan | 284,517 | 288,553 |
| Deferred compensation | 5,259 | 5,474 |
| Other noncurrent liabilities | 6,489 | 6,705 |
| Total liabilities | 678,318 | 688,664 |
| Commitments and contingencies (Note 15) | ||
| Stockholders' deficit | ||
| Preferred shares: $0.01 par value; 5,000,000 shares authorized; zero shares issued and outstanding at May 4, 2024 and February 3, 2024 | — | — |
| Common shares: $0.01 par value; 1,000,000,000 shares authorized; 104,345,896 shares issued and outstanding at May 4, 2024; 104,204,554 shares issued and outstanding at February 3, 2024 | 1,044 | 1,043 |
| Additional paid-in capital | 136,133 | 135,140 |
| Accumulated deficit | (335,415) | (347,587) |
| Accumulated other comprehensive loss | (402) | (313) |
| Total stockholders' deficit | (198,640) | (211,717) |
| Total liabilities and stockholders' deficit | $479,678 | $476,947 |
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