Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 47

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 the Company is a global company, foreign currency exchange rates used for translation may have a significant effect on its reported results. In general, given the Company's significant operations in Canada, the Company's financial results are affected positively by a weakening of the USD against the CAD and are affected negatively by a strengthening of the USD against the CAD. References to operating results on a constant-currency basis indicate operating results without the impact of foreign currency exchange rate fluctuations.

The Company believes disclosure of constant-currency net sales is helpful to investors because it facilitates period-to-period comparisons of its results by increasing the transparency of its underlying performance by excluding the impact of fluctuating foreign currency exchange rates. Constant-currency results have no standardized meaning prescribed by GAAP, are not prepared under any comprehensive set of accounting rules or principles and should be read in conjunction with the Company's consolidated financial statements prepared in accordance with GAAP. 

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. 

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Constant-currency information compares results between periods as if exchange rates had remained constant period-over-period. During the thirteen weeks ended March 29, 2025, as compared to the thirteen weeks ended March 30, 2024, the USD was stronger relative to the CAD and the Australian dollar (“AUD”), which resulted in an unfavorable 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:

Thirteen Weeks Ended(dollars in thousands)Net SalesImpact of Foreign CurrencyConstant-Currency Net Sales$ Change Over Prior Year% Change Over Prior YearMarch 29, 2025U.S. Retail$210,765 $— $210,765 $18,185 9.4 %Canada Retail128,635 8,434 137,069 2,950 2.2 %Other30,745 713 31,458 3,985 14.5 %Total net sales$370,145 $9,147 $379,292 $25,120 7.1 %March 30, 2024U.S. Retail$192,580 n/a$192,580 n/an/aCanada