Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 83

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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 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 March 29, 2025, we had accrued $4.6 million which will be paid in August 2025. The change in prepaid expenses and other current assets is primarily a result of an increase in prepaid taxes.

Net cash used in changes in operating assets and liabilities during the thirteen weeks ended March 30, 2024 consisted primarily of a $29.3 million change in operating lease liabilities, a $20.5 million change in accrued payroll and related taxes and a $6.3 million change in prepaid expenses and other current assets. The change in operating lease liabilities resulted from the payment towards our lease liabilities. The change in accrued payroll and related taxes resulted primarily from the annual payment of incentive compensation to our employees. As of December 30, 2023, we accrued $24.4 million which was paid during the first quarter of fiscal 2024. As of March 30, 2024, we accrued $3.8 million for employee incentive compensation, the majority of which was paid during the first quarter of fiscal 2025. The change in prepaid expenses and other current assets is primarily a result of an increase in prepaid taxes. 

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Net cash used in investing activities

Net cash used in investing activities was $19.4 million for the thirteen weeks ended March 29, 2025 and $22.6 million for the thirteen weeks ended March 30, 2024. Expenditure in both periods consisted primarily of investments in new stores, offsite processing and information technology, as well as capital maintenance expenditures.

Net cash used in financing activities

Net cash used in financing activities was $58.5 million for the thirteen weeks ended March 29, 2025 which consisted primarily of a $44.5 million principal payment on the Senior Secured Notes and $11.8 million