Company: SVV
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001883313-25-000013
Chunk: 116

Company: Savers Value Village, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 116
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 the IT systems used in the merchandise purchasing process. Specialized skills and knowledge were needed to test the IT systems used for the processing and recording of merchandise purchases.

The following are the primary procedures we performed to address this critical audit matter. We applied auditor judgment to determine the nature and extent of procedures to be performed over merchandise purchases, including the IT systems to be tested.

•We evaluated the design and tested the operating effectiveness of an internal control related to the merchandise purchasing process.  

•We involved IT professionals with specialized skills and knowledge who assisted in testing certain general IT controls and application controls used by the Company for the processing and recording of merchandise purchases.

•We evaluated the relevance and reliability of information used in our procedures by comparing information in certain IT systems to underlying documentation.

•We performed a software-assisted data analysis to test relationships among certain purchasing transactions.

•For a selection of transactions, we compared the amounts recognized by the Company with underlying documentation, including executed contracts and other relevant third-party evidence.

•We evaluated the sufficiency of audit evidence obtained by assessing the results of procedures performed, including the relevance and reliability of evidence obtained.

We have served as the Company’s auditor since 2003.

Boise, Idaho

February 21, 2025

66

Table of ContentsSAVERS VALUE VILLAGE, INC.

Consolidated Statements of Operations and Comprehensive Income

(All amounts in thousands, except per share amounts)

Fiscal Year202420232022Net sales$1,537,617 $1,500,249 $1,437,229 Operating expenses:Cost of merchandise sold, exclusive of depreciation and amortization669,744 619,671 599,926 Salaries, wages and benefits331,023 366,189 273,587 Selling, general and administrative337,131 311,388 301,737 Depreciation and amortization69,530 61,144 55,753 Total operating expenses1,407,428 1,358,392 1,231,003 Operating income130,189 141,857 206,226 Other (expense) income:Interest expense, net(62,444)(88,500)(64,744)(Loss) gain on foreign currency, net(14,294)6,660 (20,737)Other income, net71 3,688 4,576 Loss on extinguishment of debt(4,088)(16,626)(1,023)Other