Company: SVV
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001883313-25-000066
Chunk: 89

Company: Savers Value Village, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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37,437 5.0 Income before income taxes26,610 6.4 16,005 4.1 20,946 2.7 11,046 1.5 Income tax expense7,693 1.9 6,293 1.6 6,752 0.9 1,801 0.3 Net income$18,917 4.5 %$9,712 2.5 %$14,194 1.8 %$9,245 1.2 %

24

Thirteen Weeks Ended June 28, 2025 compared to the Thirteen Weeks Ended June 29, 2024

Net sales

The following table presents net sales:

Thirteen Weeks Ended(in thousands)June 28, 2025June 29, 2024$ Change% ChangeRetail sales$396,430 $367,922 $28,508 7.7 %Wholesale sales20,778 18,741 2,037 10.9 %Total net sales$417,208 $386,663 $30,545 7.9 %

Retail sales increased by $28.5 million, or 7.7%, during the thirteen weeks ended June 28, 2025, compared to the thirteen weeks ended June 29, 2024. The increase in retail sales resulted primarily from growth in our store base and a 4.6% increase in comparable store sales, partially offset by the unfavorable impact of foreign currency exchange rates. 

Cost of merchandise sold, exclusive of depreciation and amortization

The following table presents cost of merchandise sold, exclusive of depreciation and amortization (“cost of merchandise sold”):

Thirteen Weeks Ended(in thousands)June 28, 2025June 29, 2024$ Change% ChangeCost of merchandise sold, exclusive of depreciation and amortization$186,878 $162,626 $24,252 14.9 %

Cost of merchandise sold increased 270 basis points to 44.8% of net sales during the thirteen weeks ended June 28, 2025, compared to 42.1% for the thirteen weeks ended June 29, 2024. The 270 basis point increase primarily reflects deleverage of cost of merchandise sold as a percentage of net sales on comparable store sales in Canada due to higher processing and the impact of new stores, partially offset