Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 29

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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)158,584161,247Net loss per shareBasic$(0.03)$(0.00)Diluted$(0.03)$(0.00)

(1)For the thirteen weeks ended March 29, 2025 and March 30, 2024, the calculation of diluted net loss per share excludes the effect of 12.6 million and 8.1 million, respectively, of potential shares of common stock relating to awards of stock options and restricted stock units that, if exercised or vested, would have been antidilutive. 

Note 9. Share Repurchases

During the thirteen weeks ended March 29, 2025, under our $50.0 million share repurchase program announced in November 2023, we repurchased 1.4 million shares at a weighted average price of $8.43 per share at a cost of $11.8 million, excluding the impact of commissions and excise tax on share repurchases. As of March 29, 2025, we had $6.4 million remaining under the share repurchase program. The share repurchase program does not obligate us to purchase any minimum number of shares, and the program may be suspended, modified, or discontinued at any time without prior notice. The timing, actual number and value of any additional shares purchased will depend on a variety of factors, including, but not limited to, the market price of the Company’s common stock, general business and market conditions, other investment opportunities, and applicable regulatory requirements.

Note 10. Income Taxes

The income tax provision for interim periods is generally determined using an estimate of the Company’s annual effective tax rate adjusted for discrete items. Each quarter the estimate of the annual effective tax rate is updated, and if the Company’s estimated tax rate changes, a cumulative adjustment is made.The effective tax rate for the thirteen weeks ended March 29, 2025 and March 30, 2024 was 16.6% and 90.6%, respectively. The effective tax rates differed from the federal statutory rate primarily due to stock-based compensation and Internal Revenue Code Section 162(m) excess compensation.The Organization for Economic Cooperation and Development (“OECD”) proposed model rules to ensure a minimal level of taxation (commonly referred to as Pillar II) and the European Union member states have agreed to implement Pillar II’s proposed global corporate minimum tax rate of 15%. We considered the applicable tax law changes from Pillar II implementation in the relevant countries in