Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 50

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 March 29, 2025, we had accrued $4.6 million which will be paid in August 2025. The change in prepaid expenses and other current assets is primarily a result of an increase in prepaid taxes.

Net cash used in changes in operating assets and liabilities during the thirteen weeks ended March 30, 2024 consisted primarily of a $29.3 million change in operating lease liabilities, a $20.5 million change in accrued payroll and related taxes and a $6.3 million change in prepaid expenses and other current assets. The change in operating lease liabilities resulted from the payment towards our lease liabilities. The change in accrued payroll and related taxes resulted primarily from the annual payment of incentive compensation to our employees. As of December 30, 2023, we accrued $24.4 million which was paid during the first quarter of fiscal 2024. As of March 30, 2024, we accrued $3.8 million for employee incentive compensation, the majority of which was paid during the first quarter of fiscal 2025. The change in prepaid expenses and other current assets is primarily a result of an increase in prepaid taxes. 

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Net cash used in investing activities

Net cash used in investing activities was $19.4 million for the thirteen weeks ended March 29, 2025 and $22.6 million for the thirteen weeks ended March 30, 2024. Expenditure in both periods consisted primarily of investments in new stores, offsite processing and information technology, as well as capital maintenance expenditures.

Net cash used in financing activities

Net cash used in financing activities was $58.5 million for the thirteen weeks ended March 29, 2025 which consisted primarily of a $44.5 million principal payment on the Senior Secured Notes and $11.8 million of share repurchases under our share repurchase program.

Net cash used in financing activities was $47.6 million for the thirteen weeks ended March 30, 2024 and consisted primarily of $51.0 million of principal payments on our long-term debt, partially offset by $3.0 million of proceeds from stock option exercises and $2.4 million from the settlement of a derivative instrument.

Critical Accounting Estimates

Our unaudited interim condensed consolidated financial statements and the accompanying notes thereto included elsewhere in this Quarterly Report are prepared in accordance with GAAP. Preparation of our unaudited interim condensed consolidated financial statements in conformity with GAAP requires us to make estimates