Company: SVV
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001883313-25-000013
Chunk: 106

Company: Savers Value Village, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 106
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AP. 

Constant-currency results have limitations in their usefulness to investors and may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.

Constant-currency information compares results between periods as if exchange rates had remained constant period-over-period. During fiscal year 2024, as compared to fiscal year 2023, the USD was stronger relative to CAD and the Australian dollar (“AUD”) which resulted in an unfavorable foreign currency impact on our operating results. The Company calculates constant-currency net sales by translating current-period net sales using the average exchange rates from the comparative prior period rather than the actual average exchange rates in effect. 

A reconciliation of GAAP net sales to constant-currency net sales is presented in the table below:

(dollars in thousands)Fiscal Year 2024Net SalesImpact of Foreign CurrencyConstant-Currency Net Sales$ Change Over Prior Year% Change Over Prior YearU.S. Retail$832,581 $— $832,581 $52,455 6.7 %Canada Retail586,971 9,009 595,980 (9,650)(1.6)%Other118,065 449 118,514 4,021 3.5 %Total net sales$1,537,617 $9,458 $1,547,075 $46,826 3.1 %Fiscal Year 2023U.S. Retail$780,126 n/a$780,126 n/an/aCanada Retail605,630 n/a605,630 n/an/aOther114,493 n/a114,493 n/an/aTotal net sales$1,500,249 n/a$1,500,249 n/an/a

n/a - not applicable

Liquidity and Capital Resources

Overview

We have historically financed our operations primarily with cash generated by operating activities and proceeds from debt issuances. These sources of liquidity and capital have also been the primary means by which we funded a dividend payment of $262.2 million in fiscal year 2023. Although we do not anticipate paying any cash dividends in the foreseeable future, any future determination relating to dividend policy will be made at the discretion of our board of directors and will depend on a number of factors, including restrictions in our current and future debt instruments, our future earnings, capital requirements, financial condition, prospects, and applicable Delaware law, which provides that dividends are only payable out of surplus