Direct-to-consumer brand Torrid Holdings says second-quarter results were “in line with expectations” amid a challenging market.

The company sells apparel, intimates, and accessories in North America for women sizes 10 to 30.

For the quarter to July 29, net sales fell 18.2 per cent to $289.1 million while comparable sales decreased by 18 per cent.

Net income was $6.6 million while adjusted EBITDA reached $32.2 million or 11.1 per cent of net sales.

In the second quarter, the company opened three Torrid stores and closed two while the total store count reached 639 stores.

Lisa Harper, CEO of Torrid Holdings, said the results reflect the company’s commitment to disciplined expense and inventory management even amidst a challenging market.

“We maintain that fiscal 2023 is a pivotal ‘rebuild year’ for us. Our laser focus is on balancing our merchandise assortment through exceptional value and product offerings while expanding our customer base through a robust omnichannel strategy.”