Intense Competition and Market Share Erosion: The plus-size apparel market is highly competitive, featuring specialty retailers, department stores, and online pure-plays, making it challenging for Torrid to maintain or grow market share amidst evolving consumer preferences and pricing pressures from rivals.

Shifts in Consumer Fashion Trends and Preferences: Torrid's success is dependent on its ability to accurately predict and respond to rapidly changing fashion trends, particularly within the plus-size demographic, and a failure to do so could lead to decreased demand for its products and increased inventory markdowns.

Supply Chain Disruptions and Cost Increases: Global supply chain vulnerabilities, including factory closures, shipping delays, and rising costs of raw materials, labor, and transportation, could significantly impact Torrid's ability to source products efficiently and profitably, leading to higher costs and potential stockouts.