Company: SVV
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001883313-25-000013
Chunk: 92

Company: Savers Value Village, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 92
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 an initial fair value of $1.9 million (the “2 Peaches Acquisition”). 2 Peaches is a thrift store chain with seven locations in the Atlanta, Georgia, metropolitan area. The acquired stores are the Company’s first locations in the state of Georgia and will serve as a base for the Company’s entrance and expansion into the southeast region of the U.S. Goodwill arising from the acquisition amounted to less than $0.1 million.

Revolver Upsizing

On June 27, 2024, the Company entered into a fourth amendment to its Senior Secured Credit Facilities that, among other things, increased the maximum amount available under the Revolving Credit Facility by $50.0 million to $125.0 million, and extended the maturity date of the Revolving Credit Facility from April 26, 2026 to April 26, 2027.

Partial Redemption of Senior Secured Notes

On February 6, 2025, the Company redeemed $44.5 million aggregate principal amount of Senior Secured Notes and paid accrued interest and a premium on the partial redemption. Subsequent to the partial redemption, the Company had total borrowings of $716.8 million outstanding.

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Key Performance Indicators

We use the key performance indicators below to evaluate the performance of our business, identify trends, formulate financial projections and make strategic decisions. We believe that these metrics provide useful information to investors and others in understanding and evaluating our results of operations in the same manner as our management team.

The following table summarizes our key performance indicators for the periods indicated:

Fiscal Year20242023Comparable Store Sales (1)U.S.2.7 %4.4 %Canada(4.0)%5.0 %Total (2)(0.1)%4.7 %Number of StoresU.S.172155Canada165159Total (2)351326Other MetricsPounds processed (Ibs mm)1,012984Sales yield (3)$1.46$1.48Cost of merchandise sold per pound processed$0.66$0.63

(1)Comparable store sales is the percentage change in comparable store sales over the comparable period in the prior fiscal year. Through fiscal year 2024, we define comparable store sales to be sales by stores that have been in operation for all or a portion of two consecutive fiscal years, or, in other words, stores that are starting their third fiscal year of operation. Comparable store sales excludes stores acquired in the