Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 49

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 to acquire any specific number of shares under the program. In addition, the share repurchase program may be suspended, modified, or terminated at any time without prior notice. The amount, timing, and execution of our share repurchase program will be based upon a variety of factors, including the share price of our common stock, general market conditions, alternative uses for capital, our financial performance, and other considerations. Any repurchases will be funded by available cash and cash equivalents.

Cash Flows

Thirteen Weeks Ended March 29, 2025 compared to the Thirteen Weeks Ended March 30, 2024

The following table summarizes our cash flows:

Thirteen Weeks Ended(in thousands)March 29, 2025March 30, 2024Net cash provided by (used in) operating activities$419 $(5,800)Net cash used in investing activities(19,400)(22,553)Net cash used in financing activities(58,493)(47,622)Effect of exchange rate changes on cash and cash equivalents526 (1,797)Net change in cash and cash equivalents$(76,948)$(77,772)

Net cash provided by (used in) operating activities

Net cash provided by operating activities for the thirteen weeks ended March 29, 2025 was $0.4 million, compared to net cash used in operating activities of $5.8 million for the thirteen weeks ended March 30, 2024. The $6.2 million increase is primarily due to a $15.0 million decrease in annual incentive plan payments, partially offset by reduced operating income. We also experienced additional net cash outflows from operating activities related to movements in our working capital balances during the quarter, which were not individually significant.

Net cash used in changes in operating assets and liabilities during the thirteen weeks ended March 29, 2025 consisted primarily of a $29.8 million change in operating lease liabilities, a $10.3 million change in accounts payable and accrued liabilities and a $6.9 million change in prepaid expenses and other current assets. The change in operating lease liabilities resulted from lease payments. The change in accounts payable and accrued liabilities resulted primarily from interest payments on the Senior Secured Notes, which are due every February 15 and August 15 through maturity. As of December 28, 2024, we had an interest accrual of $16.1 million on the Senior Secured Notes which was paid in February 2025. As of