Company: SVV
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001883313-25-000101
Chunk: 54

Company: Savers Value Village, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 offset by the favorable impact of year-over-year growth in OSDs.

Personnel costs classified within cost of merchandise sold were $117.0 million during the thirteen weeks ended September 27, 2025, compared to $99.8 million during the thirteen weeks ended September 28, 2024. The $17.2 million increase in personnel costs resulted primarily from growth in our store base, increased labor to support higher processing, higher wage rates and the opening of new offsite processing facilities.

Salaries, wages and benefits

The following table presents salaries, wages and benefits:

Thirteen Weeks Ended(in thousands)September 27, 2025September 28, 2024$ Change% ChangeRetail and wholesale$55,065 $50,526 $4,539 9.0 %Corporate29,455 23,663 5,792 24.5 %Total salaries, wages and benefits$84,520 $74,189 $10,331 13.9 %

Personnel costs for our retail and wholesale operations increased by $4.5 million, or 9.0%, during the thirteen weeks ended September 27, 2025, compared to the thirteen weeks ended September 28, 2024. The increase primarily reflects growth in our store base, higher annual incentive plan expense, as well as increased labor and wage rates. 

Personnel costs for our corporate employees increased by $5.8 million, or 24.5%, during the thirteen weeks ended September 27, 2025, compared to the thirteen weeks ended September 28, 2024. The increase primarily reflects higher annual incentive plan expense, wages and non-IPO-related stock-based compensation expense, partially offset by a $4.4 million decrease in IPO-related stock-based compensation expense.

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Selling, general and administrative

The following table presents selling, general and administrative (“SG&A”):

Thirteen Weeks Ended(in thousands)September 27, 2025September 28, 2024$ Change% ChangeRetail and wholesale$81,688 $74,466 $7,222 9.7 %Corporate17,826 9,431 8,395 89.0 %Total selling, general and administrative$99,514 $83,897 $15,617 18.6 %

SG&A for our retail and wholesale operations increased by $7.2 million, or 9.7%, during the