Plus-size womenswear model Torrid has introduced a spate of adjustments to its prime workforce, together with a brand new CEO as former boss Liz Muñoz steps into the chief artistic officer position.
Muñoz has been on the helm of the US model since August 2018, and previous to that held senior management roles at firms together with Sizzling Matter – the previous proprietor of Torrid – and Fortunate Model Denims.
In her new position as chief artistic officer, Muñoz will give attention to product, design, product improvement, fabrication, sourcing, technical match, artistic advertising and marketing, and merchandising.
Torrid chair Stefan Kaluzny mentioned: “[Muñoz] has executed a terrific job main Torrid, together with enjoying an essential position within the firm’s profitable preliminary public providing in 2021.
“[Muñoz] is pushed by her ardour for product and Torrid’s buyer, and we’re thrilled to have her assume this essential new position on the firm.”
Retail business veteran Lisa Harper succeeds Muñoz as CEO. Harper has beforehand held quite a lot of senior management roles throughout the business, together with as CEO of Belk, Sizzling Matter and Gymboree.
She has additionally been a board member of Torrid since 2008, a place she’s going to retain following her new appointment.
Harper mentioned: “It has been thrilling to contribute to the evolution and innovation that has made Torrid an business chief during the last decade.
“I stay up for partnering with [Muñoz] and the Torrid workforce in my new position to proceed to drive super progress.”
Torrid additionally introduced the appointment of Tanner MacDiarmid as interim chief monetary officer, following the retirement of George Wehlitz on the finish of the primary quarter. A seek for a everlasting CFO is underway.
Moreover, Torrid has appointed former PVH Corp CFO Michael Shaffer as a brand new board member and chair of its audit committee. Shaffer retired from PVH in September 2021 after serving 31 years on the enterprise in numerous management roles.
Torrid additionally introduced it expects to exceed its beforehand acknowledged gross sales and adjusted EBITDA steering for the primary quarter of fiscal 2022.
In March, the corporate reported document gross sales of 1.278 billion {dollars} for the yr ending January 29, a rise of 31.4 p.c from a yr earlier and a rise of 23.3 p.c in comparison with two years in the past.
Regardless of the robust gross sales, the model made a web lack of 29.9 million {dollars} in comparison with a web earnings of 24.5 million {dollars} a yr earlier.
