Company: SVV
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001883313-25-000066
Chunk: 96

Company: Savers Value Village, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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 28, 2025, compared to the twenty-six weeks ended June 29, 2024. The increase resulted primarily from growth in our store base, rent and utilities and routine maintenance costs. 

Corporate SG&A decreased by $2.7 million, or 11.3%, during the twenty-six weeks ended June 28, 2025, compared to the twenty-six weeks ended June 29, 2024. The decrease primarily reflects a decrease in marketing, professional services, and repairs and maintenance expenses.

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Depreciation and amortization

The following table presents depreciation and amortization:

Twenty-Six Weeks Ended(in thousands)June 28, 2025June 29, 2024$ Change% ChangeDepreciation and amortization$40,262 $35,681 $4,581 12.8 %

The increase in depreciation and amortization resulted primarily from accelerated amortization and depreciation of $3.3 million due to a reduction of the estimated useful lives for certain acquisition-related intangible assets and store-related property and equipment. In addition, the increase reflects 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:

Twenty-Six Weeks Ended(in thousands)June 28, 2025June 29, 2024$ Change% ChangeInterest expense, net$32,405 $34,792 $(2,387)(6.9)%Amortization of debt issuance cost and debt discount2,826 2,755 71 2.6 %Gain on interest rate swaps(4,432)(5,704)1,272 (22.3)%Total interest expense, net$30,799 $31,843 $(1,044)(3.3)%

The decrease in interest expense, net was 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 7.4% from $784.2 million during the twenty-six weeks ended June 29, 2024 to $726.5 million during the twenty-six weeks ended June 28, 2025 due to debt repayments. Over the same period, the weighted average interest rate decreased 54 basis points from 9.56% to 9.02%. This decrease was due to a decrease in interest rates affecting amounts borrowed under our Term Loan