Company: SVV
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001883313-25-000066
Chunk: 46

Company: Savers Value Village, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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. The increase resulted primarily from growth in our store base. 

Corporate SG&A decreased by $0.5 million, or 4.3%, during the thirteen weeks ended June 28, 2025, compared to the thirteen weeks ended June 29, 2024. The decrease primarily reflects a decrease in marketing expenses, partially offset by an increase in professional services which includes costs associated with the Offering.

Depreciation and amortization

The following table presents depreciation and amortization:

Thirteen Weeks Ended(in thousands)June 28, 2025June 29, 2024$ Change% ChangeDepreciation and amortization$20,904 $17,380 $3,524 20.3 %

The increase in depreciation and amortization resulted primarily from accelerated amortization and depreciation of $3.3 million due to a reduction of the estimated useful lives for certain acquisition-related intangible assets and store-related property and equipment. In addition, the increase reflects continued investments in new stores, offsite processing and information technology, as well as capital maintenance expenditures.

Interest expense, net

The following table presents interest expense, net:

Thirteen Weeks Ended(in thousands)June 28, 2025June 29, 2024$ Change% ChangeInterest expense, net$16,375 $17,093 $(718)(4.2)%Amortization of debt issuance cost and debt discount1,406 1,354 52 3.8 %Gain on interest rate swaps(1,796)(2,680)884 (33.0)%Total interest expense, net$15,985 $15,767 $218 1.4 %

The increase in interest expense, net was primarily due to a decrease in the gain on interest rate swaps of $0.9 million as the remaining deferred gain recognized within accumulated other comprehensive income from the interest rate swap was reclassified as of May 2025. This was offset by a decrease in interest expense, net primarily due to a lower weighted average face value of debt and a decrease in the weighted average interest rate. The weighted average face value of debt decreased 6.4% from $765.7 million during the thirteen weeks ended June 29, 2024 to $716.8 million during the thirteen weeks ended June 28, 2025 due to debt repayments. Over the same period, the weighted average interest rate decreased 46 basis points from 9.46% to 9