Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 93

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 93
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 at convenient locations. Our sales floor inventory is also regularly rotated and refreshed, providing our customers with an extensive, ever-changing selection at tremendous value. 

In support of our efforts to extend the life of reusable goods and recover a portion of the cost of acquiring our supply of secondhand items, we sell the majority of textile items that are unsuited for or unsold at retail stores to our wholesale customers (predominantly comprised of textile graders and small business owners) who supply local communities across the globe with gently used, affordable items like clothing, housewares, toys and shoes. Textiles not suitable for reuse as secondhand clothing can be repurposed into other textile items (e.g., wiping rags) and post-consumer fibers (e.g., insulation, carpet padding), further reducing waste.

Business Highlights

The following highlights our financial results for the thirteen weeks ended March 29, 2025 (the “first quarter”). Comparisons are to the thirteen weeks ended March 30, 2024:

•Total Company net sales increased 4.5% to $370.1 million; constant-currency net sales increased 7.1%; and comparable store sales increased 2.8%.

•For the U.S., net sales increased 9.4% and comparable store sales increased 4.2%.

•For Canada, net sales decreased 4.1% due to the impact of foreign currency exchange rates; constant-currency net sales increased 2.2%; and comparable store sales increased 0.6%.

•Opened 2 new stores as planned, ending the first quarter with 353 stores. 

•Net loss was $4.7 million, or $0.03 per diluted share, which included a $2.7 million pre-tax loss on extinguishment of debt. Net loss margin was 1.3%. 

•Adjusted net income was $3.6 million, or $0.02 per diluted share.

•Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) was $42.8 million and Adjusted EBITDA margin was 11.6%. Changes in foreign currency exchange rates negatively impacted Adjusted EBITDA by $1.5 million during the first quarter.

•Total active members enrolled in our U.S. and Canadian loyalty programs increased high-single digits to nearly 6.0 million.

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Table of Contents

Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBIT