Company: SVV
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001883313-25-000026
Chunk: 38

Company: Savers Value Village, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 Thirteen Weeks Ended March 30, 2024

Net sales

The following table presents net sales:

Thirteen Weeks Ended(in thousands)March 29, 2025March 30, 2024$ Change% ChangeRetail sales$350,759 $336,795 $13,964 4.1 %Wholesale sales19,386 17,377 2,009 11.6 %Total net sales$370,145 $354,172 $15,973 4.5 %

Retail sales increased by $14.0 million, or 4.1%, during the thirteen weeks ended March 29, 2025, compared to the thirteen weeks ended March 30, 2024. The increase in retail sales resulted primarily from growth in our store base and a 2.8% increase in comparable store sales, partially offset by the unfavorable impact of foreign currency exchange rates. 

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Table of Contents

Cost of merchandise sold, exclusive of depreciation and amortization

The following table presents cost of merchandise sold, exclusive of depreciation and amortization (“cost of merchandise sold”):

Thirteen Weeks Ended(in thousands)March 29, 2025March 30, 2024$ Change% ChangeCost of merchandise sold, exclusive of depreciation and amortization$168,503 $158,164 $10,339 6.5 %

Cost of merchandise sold increased 80 basis points to 45.5% of net sales during the thirteen weeks ended March 29, 2025, compared to 44.7% for the thirteen weeks ended March 30, 2024. The 80 basis point increase primarily reflects the impact of new stores, partially offset by the favorable impact of year-over-year growth in OSD’s.

Personnel costs classified within cost of merchandise sold were $105.5 million during the thirteen weeks ended March 29, 2025, compared to $95.7 million during the thirteen weeks ended March 30, 2024. The $9.8 million increase in personnel costs resulted primarily from growth in our store base and the opening of new offsite processing facilities. 

Beginning in the second quarter of fiscal 2024, we have updated the way we define personnel costs classified within cost of merchandise sold and have recast the prior period accordingly. This update had no impact on the total cost of merchandise sold. Specifically, we have updated personnel costs classified within cost of merchandise sold to include offsite