{"product_id":"torrid-swot-analysis","title":"Torrid SWOT Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eYour Strategic Toolkit Starts Here\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eTorrid’s niche leadership in plus-size fashion, omnichannel momentum, and loyal customer base position it for steady growth, while inventory risks, competitive fast-fashion pressures, and macro spending shifts pose challenges; strategic initiatives around private labels, digital personalization, and international expansion could unlock upside. Purchase the full SWOT analysis to access a professionally formatted Word report and editable Excel tools for strategic planning, investment pitches, and thorough due diligence.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003etrengths\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialized Fit Expertise\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTorrid uses a proprietary fit process with real-life fit models across sizes 10–30, improving consistency and reducing returns; Torrid reported a 15% lower online return rate in FY2024 compared with peers. This technical precision raises entry barriers, since complex grading for plus-size silhouettes drives higher design costs and longer development cycles. Focusing on comfort and reliable sizing supports customer trust and repeat purchase rates, fueling Torrid’s same-store sales growth of 6% in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRobust Loyalty Program\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe Torrid Rewards program drives roughly 45% of total sales and creates a community of highly engaged, repeat buyers, boosting annual spend per member to about $320 in 2025.\u003c\/p\u003e\n\u003cp\u003eThat data-rich ecosystem captures SKU-level purchases and frequency, letting Torrid target offers with precision and lift campaign ROI by an estimated 18% year-over-year.\u003c\/p\u003e\n\u003cp\u003eBy end-2025 the program is a retention cornerstone, supporting same-store sales stability and cushioning revenue during soft consumer spending periods.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDominant Plus-Size Market Share\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTorrid’s focused plus-size specialty gives it a leading share in a $360B US plus-size apparel market; the brand reported 2024 net sales of $1.05B, showing its pull with core customers mainstream retailers underserve.\u003c\/p\u003e\n\u003cp\u003eThat focus drives higher wallet share—repeat-buy rates and average order values beat peers—supported by a wide assortment from casual to bridal and intimates, which expanded same-store sales and gross margin in FY2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIntegrated Omnichannel Strategy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eTorrid links 600+ US stores with a growing e-commerce platform, using buy-online-pick-up-in-store to boost conversion and reduce shipping costs; digital sales represented ~51% of revenue in FY2024, strengthening omnichannel reach.\u003c\/p\u003e\n\u003cp\u003eStores provide fit consultations and brand engagement, improving AOV and loyalty, while unified inventory systems cut stock-outs and lowered gross days inventory by ~8% year-over-year.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e600+ stores plus digital (51% of FY2024 revenue)\u003c\/li\u003e\n\u003cli\u003eBOPIS accelerates conversion and cuts ship costs\u003c\/li\u003e\n\u003cli\u003eIn-store fit boosts average order value and loyalty\u003c\/li\u003e\n\u003cli\u003eInventory integration reduced GDI ~8% YoY\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrong Intimates and Curves Category\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cptorrid engineering-led leadership in intimates and bras for sizes us drives a durable competitive edge the category represented roughly of net sales carries gross margins near higher than apparel lines.\u003e\n\u003cpthis segment frequently converts first-time buyers data shows intimacy-category acquisition accounts for of new-customer orders those shoppers spend more in subsequent months.\u003e\n\u003cphigh-margin essentials stabilize profitability: in fy2024 torrid parent company ascena reported core divisional margin improvements tied to intimates sku expansion and price-pack architecture.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e18% of 2024 net sales; ~62% gross margin\u003c\/li\u003e\n\u003cli\u003e~28% of new-customer acquisitions\u003c\/li\u003e\n\u003cli\u003eRepeat spend +15–25% per customer year 1\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/phigh-margin\u003e\u003c\/pthis\u003e\u003c\/ptorrid\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTorrid: Rewards-fueled 51% digital mix and intimates drive 6% SSS growth, $1.05B sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTorrid’s precise fit process, 600+ stores plus 51% digital mix, and Torrid Rewards (≈45% of sales; $320\/member) drive loyalty and lower returns (15% below peers), supporting 6% same-store sales growth in 2024; intimates (18% of sales; ~62% gross margin) fuels new-customer acquisition (~28%) and boosts repeat spend 15–25%.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eStores\u003c\/td\u003e\n\u003ctd\u003e600+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital % rev\u003c\/td\u003e\n\u003ctd\u003e51%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRewards % sales\u003c\/td\u003e\n\u003ctd\u003e≈45%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e2024 net sales\u003c\/td\u003e\n\u003ctd\u003e$1.05B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eProvides a concise SWOT overview of Torrid, highlighting its core strengths, operational weaknesses, market opportunities, and external threats shaping the company’s competitive position and strategic prospects.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eProvides a concise, visual SWOT summary tailored to Torrid’s market positioning, enabling fast stakeholder alignment and quick edits to reflect shifting retail priorities.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eW\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eeaknesses\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh Debt Leverage\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTorrid carries heavy leverage: as of FY2024 (fiscal year ended Feb 2024) net debt was about $420 million, keeping a net-debt-to-EBITDA ratio near 3.2x, which constrains financial flexibility and limits aggressive M\u0026amp;A or store expansion. Interest expense consumed roughly $28 million in FY2024, diverting cash from capex and tech investment, and making Torrid sensitive to rising rates or tighter credit markets.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHeavy Mall Exposure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTorrid’s heavy mall exposure—about 70% of its 600+ US stores as of FY2024—ties its retail sales to a channel that saw US mall foot traffic fall roughly 15% from 2019 to 2023 per Placer.ai trends. The brand still draws its core plus-size shopper, but mall declines pressure same-store sales and drove a 2024 comp-store dip of ~4.5% in peers. Moving toward outdoor centers or standalone stores demands capex and lease re-signings, likely raising costs by millions and extending payback periods.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePromotional Dependency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTorrid frequently leans on heavy discounting—promotional events accounted for roughly 35% of net sales in FY2024—training customers to wait for markdowns and pressuring brand equity. This reliance squeezes gross margin; Torrid’s gross margin fell to 40.8% in FY2024 from 44.2% in FY2022, showing the impact of promotions and clearance activity. Management faces a persistent trade-off: clear seasonal inventory quickly while restoring full-price sell-through to protect margins and brand value.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLimited International Presence\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eDespite strong North American sales—Torrid reported $1.15 billion revenue in FY2024—its international footprint remains small, exposing the brand to US\/Canada economic swings and fashion cycles.\u003c\/p\u003e\n\u003cp\u003eEntering foreign markets needs localized inventory, marketing, and sizing adaptation; global plus-size demand grew ~4.5% CAGR 2019–2024, but upfront capex and supply-chain costs can exceed $50–100M per region.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh US\/Canada revenue concentration: ~95% of sales\u003c\/li\u003e\n\u003cli\u003ePlus-size market CAGR ~4.5% (2019–2024)\u003c\/li\u003e\n\u003cli\u003eEstimated expansion capex: $50–100M\/region\u003c\/li\u003e\n\u003cli\u003eSizing standard variance increases SKU complexity\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInventory Management Volatility\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cptorrid has struggled to match inventory demand causing overstock and stockouts in fy2024 the company reported growth of about year-over-year while comparable sales were flat pressuring gross margins.\u003e\n\u003cpexcess inventory forced markdowns up to mid-teens percentage points in promotional periods while stockouts on core skus depressed online conversion rates and lost revenue.\u003e\n\u003cprefining the supply chain for real-time demand signals lead times and better forecasting a priority to cut markdowns recover margin.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFY2024 inventory +18% YoY vs comps ~0%\u003c\/li\u003e\n\u003cli\u003eMarkdowns reached mid-teens % points\u003c\/li\u003e\n\u003cli\u003eStockouts reduced conversions and sales\u003c\/li\u003e\n\u003cli\u003eNeed: faster lead times, real-time forecasting\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/prefining\u003e\u003c\/pexcess\u003e\u003c\/ptorrid\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh leverage, mall-reliant retailer faces margin squeeze from heavy promotions \u0026amp; inventory\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHeavy leverage (net debt ~$420M; net-debt\/EBITDA ~3.2x) limits flexibility; ~70% mall exposure pressures comps; heavy discounting (~35% promo sales; gross margin 40.8% FY2024) erodes pricing power; limited international presence (~95% US\/Canada sales) raises concentration risk; inventory mismatch (FY2024 inventory +18% YoY; markdowns mid-teens) hurts margins.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet debt\u003c\/td\u003e\n\u003ctd\u003e$420M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet-debt\/EBITDA\u003c\/td\u003e\n\u003ctd\u003e~3.2x\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMall exposure\u003c\/td\u003e\n\u003ctd\u003e~70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePromo share\u003c\/td\u003e\n\u003ctd\u003e~35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGross margin FY2024\u003c\/td\u003e\n\u003ctd\u003e40.8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue concentration\u003c\/td\u003e\n\u003ctd\u003e~95% US\/Canada\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInventory YoY\u003c\/td\u003e\n\u003ctd\u003e+18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003eTorrid SWOT Analysis\u003c\/h2\u003e\n\u003cp\u003eThis is the actual SWOT analysis document you’ll receive upon purchase—no surprises, just professional quality.\u003c\/p\u003e\n\u003cp\u003eThe preview below is taken directly from the full SWOT report you'll get. Purchase unlocks the entire in-depth version.\u003c\/p\u003e\n\u003cp\u003eThis is a real excerpt from the complete document. Once purchased, you’ll receive the full, editable version.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56752352231801,"sku":"torrid-swot-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/torrid-swot-analysis.png?v=1772239920","url":"https:\/\/growthsharematrix.com\/products\/torrid-swot-analysis","provider":"Growth Share Matrix","version":"1.0","type":"link"}