Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 99

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 99
---
 thirteen weeks ended March 29, 2025, compared to the thirteen weeks ended March 30, 2024, primarily reflecting a $9.1 million decrease in IPO-related stock-based compensation expense, partially offset by an increase to annual incentive plan expense and non-IPO-related stock-based compensation expense.

22

Table of Contents

Selling, general and administrative

The following table presents selling, general and administrative (“SG&A”):

Thirteen Weeks Ended(in thousands)March 29, 2025March 30, 2024$ Change% ChangeRetail and wholesale$75,935 $64,348 $11,587 18.0 %Corporate11,144 13,395 (2,251)(16.8)%Total selling, general and administrative$87,079 $77,743 $9,336 12.0 %

SG&A for our retail and wholesale operations increased by $11.6 million, or 18.0%, during the thirteen weeks ended March 29, 2025, compared to the thirteen weeks ended March 30, 2024. The increase resulted primarily from growth in our store base, rent and utilities, routine maintenance costs and pre-opening expenses. 

Corporate SG&A decreased by $2.3 million, or 16.8%, during the thirteen weeks ended March 29, 2025, compared to the thirteen weeks ended March 30, 2024. The decrease primarily reflects a decrease in professional services and marketing expenses.

Depreciation and amortization

The following table presents depreciation and amortization:

Thirteen Weeks Ended(in thousands)March 29, 2025March 30, 2024$ Change% ChangeDepreciation and amortization$19,358 $18,301 $1,057 5.8 %

The increase in depreciation and amortization resulted primarily from 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)March 29, 2025March 30, 2024$ Change% ChangeInterest expense, net$16,030 $17,699 $(1,669)(9.4)%Amortization of debt issuance cost and debt discount1,420 1,401 19 1.4 %Gain on interest rate swaps(2,636)(3,024)388 (12