Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 102

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 102
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2024$ Change% ChangeNet sales:U.S. Retail$210,765 $192,580 $18,185 9.4 %Canada Retail128,635 134,119 (5,484)(4.1)%Total segment sales$339,400 $326,699 $12,701 3.9 %Segment profit:U.S. Retail$38,998 $40,621 $(1,623)(4.0)%Canada Retail$25,316 $34,713 $(9,397)(27.1)%

U.S. Retail

U.S. Retail sales increased by $18.2 million, or 9.4%, during the thirteen weeks ended March 29, 2025, compared to the thirteen weeks ended March 30, 2024. The increase in U.S. Retail sales resulted from growth in our store base, as well as a 4.2% increase in comparable store sales. The increase in comparable store sales was driven by higher average basket and transactions.

U.S. Retail segment profit decreased by $1.6 million, or 4.0%, during the thirteen weeks ended March 29, 2025, compared to the thirteen weeks ended March 30, 2024. The decrease in U.S. Retail segment profit primarily reflects growth in our store base, including pre-opening expenses of $0.4 million, partially offset by an increase in profit from our comparable stores. 

Canada Retail

Canada Retail sales decreased by $5.5 million, or 4.1%, during the thirteen weeks ended March 29, 2025, compared to the thirteen weeks ended March 30, 2024, due to the impact of foreign currency exchange rates, partially offset by growth in our store base and a 0.6% increase in comparable store sales. The increase in comparable store sales was driven by higher average basket, partially offset by a decline in transactions.

Canada Retail segment profit decreased by $9.4 million, or 27.1%, during the thirteen weeks ended March 29, 2025, compared to the thirteen weeks ended March 30, 2024. The decrease in Canada Retail segment profit primarily reflects deleverage of expenses as a percentage of net sales on comparable store sales.

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Non-GAAP Financial Measures

The Company reports its financial results in accordance with GAAP. We also present the following non-GAAP financial measures: