Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 101

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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:

Thirteen Weeks Ended(in thousands)March 29, 2025March 30, 2024$ Change% ChangeOther expense, net$166 $106 $60 56.6 %

Other expense, net is comprised primarily of miscellaneous income and expenses not directly related to our core operating activities.

Loss on extinguishment of debt

The following table presents loss on extinguishment of debt:

Thirteen Weeks Ended(in thousands)March 29, 2025March 30, 2024$ Change% ChangeLoss on extinguishment of debt$2,718 $4,088 $(1,370)(33.5)%

During the thirteen weeks ended March 29, 2025, we redeemed $44.5 million aggregate principal amount of the Senior Secured Notes, resulting in a loss on debt extinguishment of $2.7 million.

During the thirteen weeks ended March 30, 2024, loss on debt extinguishment of $4.1 million comprised $0.7 million associated with the repricing of outstanding borrowings under our Term Loan Facility on January 30, 2024 and $3.4 million associated with the redemption of $49.5 million aggregate principal amount of the Senior Secured Notes on March 4, 2024.

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Table of Contents

Income tax benefit

The following table presents income tax benefit:

Thirteen Weeks Ended(in thousands)March 29, 2025March 30, 2024$ Change% ChangeIncome tax benefit$(941)$(4,492)$3,551 (79.1)%

For the thirteen weeks ended March 29, 2025, we recorded an income tax benefit of $0.9 million on loss before income taxes of $5.7 million, resulting in an effective tax rate of 16.6%. For the thirteen weeks ended March 30, 2024, we recorded $4.5 million of income tax benefit on loss before income taxes of $5.0 million, resulting in an effective tax rate of 90.6%. The decrease in our income tax benefit resulted primarily from a tax shortfall in stock-based compensation recognized during the thirteen weeks ended March 29, 2025, compared to a windfall tax benefit recorded during the thirteen weeks ended March 30, 2024.

Segment results

The following table presents net sales and profit by segment:

Thirteen Weeks Ended(in thousands)March 29, 2025March 30,