Torrid reported an USD11.712 million gift-card liability at August 1, compared with USD13.695 million at January 31. The gift-specific data appear in its September 10 quarterly filing, separately from the broader earnings announcement published September 3.
Torrid gift-card liability during fiscal 2026
Gift-card obligations at the fiscal year opening and half-year reporting date.
USD million
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Source
Point-in-time balances approximately six months apart. This is not a same-quarter year-over-year comparison or a gift-card sales measure; loyalty and private-label credit-card balances are excluded.
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| Category | Gift-card liability |
|---|---|
| January 31, 2026 | 13.695 USD million |
| August 1, 2026 | 11.712 USD million |
The apparel retailer recognized approximately USD3.2 million of revenue during the six-month period from gift cards existing at the beginning of fiscal 2026. The equivalent opening-year cohort contributed USD4 million in the comparable 2025 period.
Torrid revenue recognized from opening gift-card cohorts
Revenue recognized during each half-year from gift-card obligations present at the start of that fiscal year.
USD million
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Source
Approximate amounts disclosed by the issuer. Each bar covers a different fiscal-year opening cohort. Excludes cards acquired later in the period and does not separately quantify redemption and breakage.
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| Category | Opening-cohort recognized revenue |
|---|---|
| Six months ended August 2, 2025 | 4.0 USD million |
| Six months ended August 1, 2026 | 3.2 USD million |
For the quarter alone, recognized revenue from those opening gift-card obligations was approximately USD1 million, versus USD0.8 million previously. The six-month and quarterly comparisons therefore describe different periods and should not be presented as the same measure.
These figures cover opening cohorts, rather than all cards sold or redeemed during each period. The note separately identifies loyalty-program obligations and private-label credit-card funds; those balances are outside the gift-card amounts reported here.
The filing supplies a newly published issuer-level dataset without quantifying total gift-card issuance, a standalone breakage amount or a new validity policy. Its September publication date does not turn the earlier general earnings release into a new event.
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Maya Bennett
Maya Bennett covers customer loyalty, employee rewards and incentive programmes for Gift Card News.