Torrid (CURV) - 2026 Q2 - Quarterly Report

FORM 10-Q Filing Information Registrant Information Provides basic identification details for Torrid Holdings Inc.'s Form 10-Q, covering incorporation, address, and stock exchange - Registrant: TORRID HOLDINGS INC.[3] - Incorporation: Delaware[3] - Principal Executive Offices: City of Industry, California[3] Securities Registered | Title of each class | Trading Symbol | Name of each exchange on which registered | | :------------------ | :------------- | :---------------------------------------- | | Common stock, par value $0.01 per share | CURV | New York Stock Exchange | - As of September 1, 2025, approximately 99.2 million shares of common stock were outstanding[5] FORWARD-LOOKING STATEMENTS Nature of Forward-Looking Statements Clarifies forward-looking statements are subject to risks and uncertainties, potentially causing actual results to differ - Forward-looking statements reflect current expectations and projections relating to financial condition, results of operations, plans, objectives, future performance, and business[9] - Statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations[9] Key Risk Factors Identifies factors that could materially affect results, including economic conditions, supply chain, competition, and operations - Changes in consumer spending and general economic conditions[9] - Negative impact on revenue and profitability from new or increased duties/tariffs on imported goods[9] - Increased competition from other brands and retailers[9] - Dependence on third parties for merchandise manufacturing and transportation[9] - Reliance on information systems and risks related to system security or unauthorized data disclosure[13] - Substantial indebtedness and lease obligations, and restrictions imposed by debt[13] PART I — FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) Presents unaudited condensed consolidated financial statements, including balance sheets, income, deficit, and cash flows Condensed Consolidated Balance Sheets Condensed Consolidated Balance Sheets (in thousands) | Item | August 2, 2025 | February 1, 2025 | | :-------------------------------- | :------------- | :--------------- | | Assets | | | | Cash and cash equivalents | $21,543 | $48,523 | | Inventory | $130,235 | $148,493 | | Total current assets | $189,086 | $226,166 | | Total assets | $414,465 | $488,441 | | Liabilities and Stockholders' Deficit | | | | Accounts payable | $53,198 | $72,378 | | Accrued and other current liabilities | $108,898 | $125,743 | | Total current liabilities | $228,191 | $263,132 | | Noncurrent debt, net | $264,337 | $272,409 | | Total liabilities | $615,581 | $679,530 | | Total stockholders' deficit | $(201,116) | $(191,089) | | Total liabilities and stockholders' deficit | $414,465 | $488,441 | - Total assets decreased from $488.4 million at February 1, 2025, to $414.5 million at August 2, 2025[17] - Total liabilities decreased from $679.5 million to $615.6 million over the same period[17] - Stockholders' deficit increased from $(191.1) million to $(201.1) million[17] Condensed Consolidated Statements of Comprehensive Income Condensed Consolidated Statements of Comprehensive Income (in thousands, except per share data) | Item | Three Months Ended August 2, 2025 | Three Months Ended August 3, 2024 | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net sales | $262,806 | $284,638 | $528,771 | $564,409 | | Gross profit | $93,488 | $110,258 | $194,890 | $225,679 | | Income from operations | $10,160 | $20,413 | $26,187 | $46,556 | | Net income | $1,567 | $8,328 | $7,507 | $20,500 | | Basic net earnings per share | $0.02 | $0.08 | $0.07 | $0.20 | | Diluted net earnings per share | $0.02 | $0.08 | $0.07 | $0.19 | - Net sales decreased by 7.7% for the three months ended August 2, 2025, and by 6.3% for the six months ended August 2, 2025, compared to the prior year periods[19] - Net income significantly decreased from $8.3 million to $1.6 million for the three-month period and from $20.5 million to $7.5 million for the six-month period year-over-year[19] Condensed Consolidated Statements of Stockholders' Deficit Changes in Stockholders' Deficit (in thousands) | Item | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :------------------------------ | :------------------------------ | | Balance at beginning of period | $(191,089) | $(211,717) | | Net income | $7,507 | $20,500 | | Issuance of common shares and withholding tax payments | $(438) | $(419) | | Share-based compensation | $2,605 | $2,412 | | Purchase of common stock, including excise tax | $(20,285) | $0 | | Other comprehensive income (loss) | $391 | $(187) | | Balance at end of period | $(201,116) | $(188,946) | - Total stockholders' deficit increased from $(191.1) million at February 1, 2025, to $(201.1) million at August 2, 2025[21] - The company repurchased 6.0 million shares of common stock for $20.3 million during the six months ended August 2, 2025[21] Condensed Consolidated Statements of Cash Flows Condensed Consolidated Statements of Cash Flows (in thousands) | Activity | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :------------------------------ | :------------------------------ | | Net cash (used in) provided by operating activities | $(2,270) | $68,447 | | Net cash used in investing activities | $(3,671) | $(10,180) | | Net cash used in financing activities | $(21,470) | $(15,981) | | (Decrease) increase in cash, cash equivalents and restricted cash | $(26,980) | $42,205 | | Cash, cash equivalents and restricted cash at end of period | $21,942 | $54,339 | - Operating activities shifted from providing $68.4 million in cash in the prior year to using $2.3 million in the current six-month period[25] - Investing activities used less cash, decreasing from $10.2 million to $3.7 million, primarily due to fewer store openings and remodels[25] - Financing activities used more cash, increasing from $16.0 million to $21.5 million, mainly due to share repurchases[25] Notes to Condensed Consolidated Financial Statements Note 1. Basis of Presentation and Description of the Business Outlines corporate structure, fiscal year, financial statement presentation, business description, and accounting policies - TORRID HOLDINGS INC. is a direct-to-consumer brand specializing in apparel, intimates, and accessories for women wearing sizes 10 to 30, primarily through its e-Commerce platform and stores in North America[33] - The fiscal year ends on the Saturday nearest to January 31; fiscal years 2025 and 2024 are 52-week years[30] - A change in significant accounting policies occurred for treasury stock, now recorded at cost as a separate component of stockholders' deficit[35][36] Note 2. Accounting Standards Discusses recently adopted and not yet adopted accounting standards, with no new adoptions in current interim periods - No new accounting standards were adopted during the three- and six-month periods ended August 2, 2025[39] - ASU 2023-09 (Income Taxes: Improvements to Income Tax Disclosures) is effective for fiscal year ended January 31, 2026, and the company is evaluating its impact[40] - ASU 2024-03 (Expense Disaggregation Disclosures) is effective for annual periods beginning after December 15, 2026, and the company is evaluating its impact[41] Note 3. Property and Equipment Summarizes property and equipment, net of depreciation, showing a decrease in net value; no impairment charges Property and Equipment, Net (in thousands) | Item | August 2, 2025 | February 1, 2025 | | :-------------------------------- | :------------- | :--------------- | | Property and equipment, at cost | $305,925 | $323,230 | | Less: accumulated depreciation and amortization | $(242,253) | $(245,561) | | Property and equipment, net | $63,672 | $77,669 | - Depreciation expense was $9.4 million for the three months and $18.8 million for the six months ended August 2, 2025[44] - No impairment charges were recognized during the three- and six-month periods ended August 2, 2025, or August 3, 2024[45] Note 4. Revenue Recognition Disaggregates revenue by product category and details contract liabilities; apparel remains largest component Revenue by Product Category (in thousands) | Category | Three Months Ended August 2, 2025 | Three Months Ended August 3, 2024 | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Apparel | $241,411 | $259,782 | $481,198 | $512,515 | | Non-apparel | $13,457 | $17,536 | $31,710 | $37,828 | | Other | $7,938 | $7,320 | $15,863 | $14,066 | | Total net sales | $262,806 | $284,638 | $528,771 | $564,409 | Contract Liabilities (in thousands) | Item | August 2, 2025 | February 1, 2025 | | :-------------------------------- | :------------- | :--------------- | | Accrued loyalty program | $10,610 | $10,887 | | Gift cards | $11,590 | $13,676 | | Deferred revenue | $3,374 | $2,777 | | Deferred PLCC Funds | $3,208 | $3,458 | - Revenue recognized from accrued loyalty program, gift cards, and deferred PLCC Funds from the beginning of fiscal year 2025 was $1.3 million, $0.8 million, and $0.2 million, respectively, for the three-month period[50] Note 5. Related Party Transactions Details transactions with related parties, including services, merchandise purchases, and a share repurchase - Hot Topic charged Torrid $0.5 million for services in the three months ended August 2, 2025, and Torrid charged Hot Topic $0.1 million for IT services[53][55] - Cost of goods sold included $8.8 million from MGF Sourcing US, LLC for the three months ended August 2, 2025[59] - On June 23, 2025, Torrid repurchased 6.0 million shares of common stock from Sycamore for $20.0 million in a private transaction[61] Note 6. Debt Provides details on company debt, including ABL Facility and Term Loan, with ABL maturity extended to 2030 Debt Composition (in thousands) | Item | August 2, 2025 | February 1, 2025 | | :-------------------------------- | :------------- | :--------------- | | Borrowings under credit facility (ABL) | $7,900 | $0 | | Amended Term Loan Credit Agreement | $284,375 | $293,125 | | Less: unamortized original issue discount and debt financing costs | $(3,894) | $(4,572) | | Noncurrent debt, net | $264,337 | $272,409 | - The Amended ABL Facility's maturity date was extended from June 14, 2026, to August 1, 2030[63] - As of August 2, 2025, availability under the Amended ABL Facility was $90.2 million[64] - Interest expense for the Amended Term Loan Credit Agreement was $7.4 million for the three months and $14.9 million for the six months ended August 2, 2025[68] Note 7. Leases Details company lease costs, primarily fixed operating and variable, showing a slight decrease year-over-year Lease Costs (in thousands) | Item | Three Months Ended August 2, 2025 | Three Months Ended August 3, 2024 | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Fixed operating lease cost | $11,956 | $12,663 | $24,374 | $25,808 | | Short-term lease cost | $21 | $40 | $43 | $79 | | Variable lease cost | $5,613 | $5,539 | $11,278 | $11,137 | | Total lease cost | $17,590 | $18,242 | $35,695 | $37,024 | Note 8. Income Taxes Provides income tax provision and effective tax rates, impacted by non-deductible compensation and new legislation Income Tax Provision and Effective Tax Rate | Item | Three Months Ended August 2, 2025 | Three Months Ended August 3, 2024 | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Provision for income taxes | $0.5 million | $3.1 million | $3.1 million | $7.6 million | | Effective tax rate | 23.7% | 26.9% | 29.4% | 26.9% | - The decrease in the three-month effective tax rate was primarily due to a decrease in non-deductible compensation[71] - The 'One Big Beautiful Bill Act' was signed into law on July 4, 2025, allowing more favorable deductibility of certain business expenses, with an immaterial impact expected for the current year[72][73] Note 9. Commitments and Contingencies Discloses ongoing legal proceedings, including class action lawsuits, with $4.1 million accrued for probable losses - A class action complaint filed in April 2024 alleges misleading and unlawful pricing, sales, and discounting practices; a proposed settlement agreement was reached in May 2025[74] - Six class action lawsuits were consolidated in February 2025, alleging failure to protect data after a potential unauthorized access incident[75] - Accrued legal liabilities were $4.1 million as of August 2, 2025, for estimated probable losses[74] Note 10. Earnings Per Share Provides computation of basic and diluted net earnings per share, showing a decrease from the prior year Net Earnings Per Share (in thousands, except per share amounts) | Item | Three Months Ended August 2, 2025 | Three Months Ended August 3, 2024 | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net income—basic and diluted | $1,567 | $8,328 | $7,507 | $20,500 | | Weighted-average number of shares—basic | 102,470 | 104,500 | 103,699 | 104,384 | | Weighted-average number of shares—diluted | 102,746 | 106,074 | 104,400 | 105,728 | | Basic net earnings per share | $0.02 | $0.08 | $0.07 | $0.20 | | Diluted net earnings per share | $0.02 | $0.08 | $0.07 | $0.19 | Potentially Dilutive Securities Excluded (in thousands) | Item | Three Months Ended August 2, 2025 | Three Months Ended August 3, 2024 | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Restricted stock awards, restricted stock units and performance stock units | 708 | 31 | 312 | 51 | | Stock options | 2,597 | 1,461 | 2,321 | 1,383 | | Total anti-dilutive securities | 3,305 | 1,492 | 2,633 | 1,434 | Note 11. Fair Value Measurements Provides fair value measurements for financial assets and liabilities, including money market funds and term loan Fair Value Measurements (in thousands) | Item | August 2, 2025 | February 1, 2025 | | :-------------------------------- | :------------- | :--------------- | | Money market funds (cash equivalent) | $151 | $31,727 | | Deferred compensation plan liability (current) | $224 | $1,767 | | Deferred compensation plan liability (noncurrent) | $3,801 | $3,913 | | Fair value of Amended Term Loan Credit Agreement | $253,100 | $274,100 | - The fair value of money market funds is based on quoted prices in active markets (Level 1)[81] - The fair value of the Amended Term Loan Credit Agreement is determined using current applicable rates for similar instruments (Level 2)[83] Note 12. Segment Reporting States the company operates as a single reportable segment, managed on a consolidated net income basis - Torrid has one reportable segment, including e-Commerce and stores, managed by the CEO based on consolidated net income[84] Segment Information (in thousands) | Item | Three Months Ended August 2, 2025 | Three Months Ended August 3, 2024 | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net sales | $262,806 | $284,638 | $528,771 | $564,409 | | Net income | $1,567 | $8,328 | $7,507 | $20,500 | Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Management's discussion of financial condition, operations, liquidity, and cash flows, including performance factors Overview Torrid is a direct-to-consumer brand offering apparel, intimates, and accessories for curvy women - Torrid is a direct-to-consumer brand offering stylish, comfortable, and affordable apparel, intimates, and accessories for curvy women in sizes 10 to 30[89] - The company is implementing a retail store optimization strategy, having closed 59 stores through Q2 FY2025 and targeting up to 120 additional closures for the remainder of FY2025[90] Key Financial and Operating Metrics Presents key financial and operating metrics, including store count, comparable sales, net income, and Adjusted EBITDA Key Financial and Operating Metrics | Metric | Three Months Ended August 2, 2025 | Three Months Ended August 3, 2024 | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Number of stores (as of end of period) | 575 | 657 | 575 | 657 | | Comparable sales | (7)% | (1)% | (5)% | (5)% | | Net income (in thousands) | $1,567 | $8,328 | $7,507 | $20,500 | | Adjusted EBITDA (in thousands) | $21,525 | $34,592 | $48,653 | $72,820 | - Comparable sales decreased by 7% for the three months and 5% for the six months ended August 2, 2025[92] - Adjusted EBITDA decreased by 37.8% for the three months and 33.2% for the six months ended August 2, 2025[92] Factors Affecting Our Performance Identifies internal and external factors influencing performance, including consumer spending, economic trends, and marketing - Success depends on efficient and profitable customer acquisition and retention, with omni-channel customers spending approximately 3.5 times more per year[100][102] - Overall economic trends, including high inflation rates, have led to softening consumer demand and increased costs for wages, transportation, and products[103] - The company plans to continue investing in brand awareness, customer engagement, and conversion through targeted marketing and infrastructure enhancements[105][107] - The business is generally not seasonal, with Adjusted EBITDA typically strongest in the first half of the year due to more favorable product margins and lower expenses[108] Components of Our Results of Operations Defines key components of results of operations: net sales, gross profit, SG&A, marketing, and interest expense - Net Sales: Includes merchandise sales, shipping revenue, royalties, PLCC Funds, and gift card breakage income, less returns and discounts[110] - Gross Profit: Net sales less cost of goods sold, which includes merchandise costs, freight, inventory shrinkage, payroll, distribution center, and store occupancy expenses[111] - Selling, General and Administrative Expenses: All operating costs not included in cost of goods sold or marketing expenses[112] - Marketing Expenses: Primarily targeted online performance marketing, store and brand marketing, public relations, photographic production, and marketing team payroll[113] - Interest Expense: Primarily associated with the Amended ABL Facility and Amended Term Loan Credit Agreement[114] Results of Operations Three Months Ended August 2, 2025 Compared to Three Months Ended August 3, 2024 Net sales decreased by 7.7% to $262.8 million, gross profit declined by 15.2%, and net income fell significantly Consolidated Results of Operations (Three Months Ended, in thousands) | Item | August 2, 2025 | % of Net Sales | August 3, 2024 | % of Net Sales | | :-------------------------------- | :------------- | :------------- | :------------- | :------------- | | Net sales | $262,806 | 100.0% | $284,638 | 100.0% | | Cost of goods sold | $169,318 | 64.4% | $174,380 | 61.3% | | Gross profit | $93,488 | 35.6% | $110,258 | 38.7% | | Selling, general and administrative expenses | $70,511 | 26.8% | $76,838 | 27.0% | | Marketing expenses | $12,817 | 4.9% | $13,007 | 4.6% | | Income from operations | $10,160 | 3.9% | $20,413 | 7.1% | | Net income | $1,567 | 0.6% | $8,328 | 2.9% | - Net sales decreased by $21.8 million (7.7%) due to lower sales transaction values and a reduction of 82 stores[118] - Gross profit decreased by $16.8 million (15.2%), and gross profit as a percentage of net sales decreased by 3.1% to 35.6%[119] - Selling, general and administrative expenses decreased by $6.3 million (8.2%), primarily due to lower payroll and other store operating costs[120] - Adjusted EBITDA decreased from $34.6 million to $21.5 million[116] Six Months Ended August 2, 2025 Compared to Six Months Ended August 3, 2024 Net sales decreased by 6.3% to $528.8 million, gross profit declined by 13.6%, and net income fell significantly Consolidated Results of Operations (Six Months Ended, in thousands) | Item | August 2, 2025 | % of Net Sales | August 3, 2024 | % of Net Sales | | :-------------------------------- | :------------- | :------------- | :------------- | :------------- | | Net sales | $528,771 | 100.0% | $564,409 | 100.0% | | Cost of goods sold | $333,881 | 63.1% | $338,730 | 60.0% | | Gross profit | $194,890 | 36.9% | $225,679 | 40.0% | | Selling, general and administrative expenses | $140,527 | 26.6% | $153,304 | 27.2% | | Marketing expenses | $28,176 | 5.3% | $25,819 | 4.6% | | Income from operations | $26,187 | 5.0% | $46,556 | 8.2% | | Net income | $7,507 | 1.4% | $20,500 | 3.6% | - Net sales decreased by $35.6 million (6.3%) primarily due to a decrease in sales transaction values[128] - Gross profit decreased by $30.8 million (13.6%), and gross profit as a percentage of net sales decreased by 3.1% to 36.9%[130] - Marketing expenses increased by $2.4 million (9.1%) due to increased social media spend, retargeting, and photographic production[132] - Adjusted EBITDA decreased from $72.8 million to $48.7 million[125] Liquidity and Capital Resources Discusses liquidity sources (cash flows, ABL Facility) and primary cash needs (inventory, payroll, capital expenditures) - Primary liquidity source is cash flows from operations, supplemented by the Amended ABL Facility[135] Liquidity Position (in thousands) | Item | August 2, 2025 | | :-------------------------------- | :------------- | | Cash and cash equivalents | $21,543 | | Outstanding indebtedness (net) | $288,400 | | Borrowings on ABL Facility | $7,900 | | Term loans under Amended Term Loan Credit Agreement | $280,500 | | Additional liquidity from ABL Facility | $90,200 | - The Amended ABL Facility maturity was extended to August 1, 2030, and the company remains compliant with all debt covenants[137][139] - Primary cash needs include merchandise inventories, payroll, rent, capital expenditures, logistics, and information technology[143] - A $20.0 million share repurchase from Sycamore occurred on June 23, 2025[144] Cash Flow Analysis Analyzes cash flows from operating, investing, and financing activities, highlighting significant year-over-year changes Cash Flow Summary (in thousands) | Activity | Six Months Ended August 2, 2025 | Six Months Ended August 3, 2024 | | :-------------------------------- | :------------------------------ | :------------------------------ | | Net cash (used in) provided by operating activities | $(2,270) | $68,447 | | Net cash used in investing activities | $(3,671) | $(10,180) | | Net cash used in financing activities | $(21,470) | $(15,981) | - Operating cash flow shifted from a $68.4 million inflow to a $2.3 million outflow, primarily due to decreases in accounts payable and accrued expenses[148] - Investing cash used decreased from $10.2 million to $3.7 million, driven by fewer new store openings and remodels[150] - Financing cash used increased from $16.0 million to $21.5 million, mainly due to the repurchase of common stock[152] Critical Accounting Policies and Estimates No material changes to critical accounting policies and estimates since the 2024 Form 10-K filing - No material changes to critical accounting policies and estimates since the 2024 Form 10-K[153] Recently Issued Accounting Pronouncements Refers to Note 2 for detailed information regarding recently issued accounting pronouncements - Refer to Note 2 for information regarding recently issued accounting pronouncements[154] Item 3. Quantitative and Qualitative Disclosures About Market Risk No material changes to the market risk profile as disclosed in the 2024 Form 10-K - No material changes to the market risk profile as of August 2, 2025, compared to the 2024 Form 10-K[155] Item 4. Controls and Procedures Disclosure controls and procedures were effective; a new ERP system implementation involved control modifications - Disclosure controls and procedures were effective as of August 2, 2025[156] - A new ERP system was implemented for financial accounting systems, leading to new and modified internal controls[157] - No other material changes in internal control over financial reporting occurred during the fiscal quarter[157] PART II — OTHER INFORMATION Item 1. Legal Proceedings Refers to Note 9 for legal proceedings; no other litigation expected to materially affect financial statements - Refer to Note 9 for information regarding certain legal proceedings[160] - No other current litigation is expected to have a material adverse effect on the business, financial condition, operating results, or cash flows[161] Item 1A. Risk Factors No material changes to the risk factors previously disclosed in the company's 2024 Form 10-K - No material changes to the risk factors disclosed in the 2024 Form 10-K[162] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Details share repurchase activities, including a private transaction with Sycamore for $20.0 million Issuer Purchases of Equity Securities | Period | Total number of shares purchased | Average price paid per share | Maximum dollar value of shares that may yet to be purchased under the plans or programs | | :-------------------------------- | :------------------------------- | :--------------------------- | :-------------------------------------------------------------------------------- | | June 1, 2025 - July 5, 2025 | 6,030,908 | $3.31625 | $44,946,650 | - On June 23, 2025, the company repurchased 6.0 million shares of common stock from Sycamore for $20.0 million in a private transaction[164] - The repurchase was part of a $100.0 million share repurchase program authorized on December 6, 2021[163] Item 3. Defaults Upon Senior Securities No defaults upon senior securities during the reporting period - No defaults upon senior securities[165] Item 4. Mine Safety Disclosures Mine safety disclosures are not applicable to the company's operations - Mine Safety Disclosures are not applicable[166] Item 5. Other Information Confirms no other material information and no Rule 10b5-1 trading arrangement changes by officers/directors - No director or officer adopted, modified, or terminated a Rule 10b5-1 trading arrangement during the fiscal quarter ended August 2, 2025[168] Item 6. Exhibits Lists all exhibits filed with the Form 10-Q, including corporate governance, debt agreements, and certifications - Includes Amended and Restated Certificate of Incorporation and Bylaws[169] - Lists the Stock Repurchase Agreement dated June 23, 2025, and the Fifth Amendment to Amended and Restated Credit Agreement dated August 1, 2025[169] - Contains certifications from the Principal Executive Officer and Principal Financial Officer (Sections 302 and 906 of Sarbanes-Oxley Act)[169] SIGNATURES Report Signatories Confirms official signing of the Form 10-Q report by the Chief Executive Officer and Chief Financial Officer - Report signed on September 11, 2025[171] - Signed by Lisa Harper, Chief Executive Officer and Director (Principal Executive Officer)[173] - Signed by Paula Dempsey, Chief Financial Officer (Principal Financial Officer)[173]