Company: SVV
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001883313-25-000101
Chunk: 108

Company: Savers Value Village, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 108
---
 The increase primarily reflects impairment charges, debt transaction costs and the year-over-year change in the fair value of acquisition-related contingent consideration. 

Depreciation and amortization

The following table presents depreciation and amortization:

Thirteen Weeks Ended(in thousands)September 27, 2025September 28, 2024$ Change% ChangeDepreciation and amortization$18,320 $17,297 $1,023 5.9 %

The increase in depreciation and amortization resulted primarily from 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)September 27, 2025September 28, 2024$ Change% ChangeInterest expense, net$15,959 $16,689 $(730)(4.4)%Amortization of debt issuance cost and debt discount1,347 1,414 (67)(4.7)%Gain on interest rate swaps(30)(2,637)2,607 (98.9)%Total interest expense, net$17,276 $15,466 $1,810 11.7 %

The increase in total interest expense, net was primarily due to a decrease in the gain on interest rate swaps of $2.6 million as the remaining deferred gain recognized within accumulated other comprehensive income from the interest rate swap terminated in April 2024 was reclassified as of May 2025. This was partially 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 5.7% from $764.2 million during the thirteen weeks ended September 28, 2024 to $720.4 million during the thirteen weeks ended September 27, 2025 due to debt repayments. Over the same period, the weighted average interest rate decreased 69 basis points from 9.47% to 8.78%. This decrease was due to a decrease in interest rates affecting amounts borrowed under our term loan facilities. There was no material effect to interest expense, net from the September 2025 debt refinancing.

31

Loss (gain) on foreign currency, net

The following table presents loss (gain) on foreign currency, net:

Thirteen Weeks Ended(in thousands)September 27, 2025September 28,