Company: SVV
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001883313-25-000101
Chunk: 61

Company: Savers Value Village, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 61
---
 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.

35

Interest expense, net

The following table presents interest expense, net:

Thirty-Nine Weeks Ended(in thousands)September 27, 2025September 28, 2024$ Change% ChangeInterest expense, net$48,364 $51,481 $(3,117)(6.1)%Amortization of debt issuance cost and debt discount4,173 4,169 4 0.1 %Gain on interest rate swaps(4,462)(8,341)3,879 (46.5)%Total interest expense, net$48,075 $47,309 $766 1.6 %

The increase in total interest expense, net was primarily due to a decrease in the gain on interest rate swaps of $3.9 million as the remaining deferred gain recognized within accumulated other comprehensive income from the interest rate swap terminated in April 2024 was reclassified as of May 2025. This was offset by a decrease in interest expense, net 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 6.8% from $777.5 million during the thirty-nine weeks ended September 28, 2024 to $724.5 million during the thirty-nine weeks ended September 27, 2025 due to debt repayments. Over the same period, the weighted average interest rate decreased 62 basis points from 9.56% to 8.94%. This decrease was due to a decrease in interest rates affecting amounts borrowed under our term loan facilities. There was no material effect to interest expense, net from the September 2025 debt refinancing.

Gain on foreign currency, net

The following table presents gain on foreign currency, net:

Thirty-Nine Weeks Ended(in thousands)September 27, 2025September 28, 2024$ Change% Change(Gain) loss on foreign currency remeasurement$(9,680)$6,367 $(16,047)n/mLoss (gain) on derivative instruments3,277 (6,914)10,191 n/mTotal gain on foreign currency, net$(6