RTTNews | Jan 10, 2022 09:58AM EST

09:57 Monday, January 10, 2022 (RTTNews.com) - Shares of direct-to-consumer apparel and intimates brand Torrid Holdings Inc. (CURV) are falling more than 17% in the morning trade on Monday after the company reduced its fourth-quarter sales outlook citing labor issues following the spread of the Covid-19 Omicron variant.

The company currently expects sales to be in the range of $300 million to $305 million in the fourth quarter, compared with its prior guidance range of $325 million to $335 million. On average 7 analysts polled by Tomson Reuters expect the company to report revenue of $331.49 million.

For the full-year, Torrid sees sales to be between $1.265 billion and $1.270 billion, lower than the prior guidance of $1.29 billion to $1.30 billion. The consensus estimate stands at $1.3 billion.

CURV touched a new low of $8.51 this morning, before edging up to $8.84 currently.

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