Company: SVV
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001883313-25-000101
Chunk: 152

Company: Savers Value Village, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 152
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163,269 $148,911 $14,358 9.6 %Corporate93,046 99,930 (6,884)(6.9)%Total salaries, wages and benefits$256,315 $248,841 $7,474 3.0 %

Personnel costs for our retail and wholesale operations increased by $14.4 million, or 9.6%, during the thirty-nine weeks ended September 27, 2025, compared to the thirty-nine weeks ended September 28, 2024. The increase primarily reflects growth in our store base, higher annual incentive plan expense, as well as increased wages rates and labor.

Personnel costs for our corporate employees decreased by $6.9 million, or 6.9%, during the thirty-nine weeks ended September 27, 2025, compared to the thirty-nine weeks ended September 28, 2024, primarily reflecting a $24.4 million decrease in IPO-related stock-based compensation expense, largely offset by higher annual incentive plan expense, wages and non-IPO-related stock-based compensation expense. 

Selling, general and administrative

The following table presents SG&A:

Thirty-Nine Weeks Ended(in thousands)September 27, 2025September 28, 2024$ Change% ChangeRetail and wholesale$235,775 $211,577 $24,198 11.4 %Corporate39,230 33,549 5,681 16.9 %Total selling, general and administrative$275,005 $245,126 $29,879 12.2 %

SG&A for our retail and wholesale operations increased by $24.2 million, or 11.4%, during the thirty-nine weeks ended September 27, 2025, compared to the thirty-nine weeks ended September 28, 2024. The increase resulted primarily from growth in our store base, higher rent and utilities, as well as increased routine maintenance costs, partially offset by a decrease in marketing expenses. 

Corporate SG&A increased by $5.7 million, or 16.9%, during the thirty-nine weeks ended September 27, 2025, compared to the thirty-nine weeks ended September 28, 2024. The increase primarily reflects impairment charges, debt transaction costs and Offering costs, partially offset by a decrease in other professional services and marketing expenses.

Depreciation and amortization

The following table presents depreciation and amortization:

Thirty-Nine