Investment Overview - Savers Value Village (NYSE:SVV) is rated as a hold due to expected underperformance in Canada operations, influenced by high mortgage rates affecting household income [2] - The robust outlook in the US is not anticipated to sufficiently offset the weaknesses in Canada, suggesting better investment alternatives in the US market [2] Business Description - SVV operates as a leading for-profit thrift store in the US and Canada, sourcing merchandise through non-profit partners and processing it in centralized centers [3] - The US market accounts for 52% of FY23 revenue, while Canada contributes 40% [3] 2Q24 Earnings - SVV reported sales of $386.7 million, missing consensus expectations of $391.1 million, with same-store sales growth declining from 0.3% in 1Q24 to -0.1% in 2Q24 [4] - Gross margin was reported at 57.9%, below the expected 59.1%, leading to an adjusted EBITDA margin of 20.7%, also below the consensus of 21.4% [4] - Management has lowered FY24 guidance for adjusted EBITDA to $290 to $310 million, down from $330 to $340 million, with expected sales revised to $1.53 to $1.56 billion [4] US Market Outlook - US same-store sales growth remains strong, with a favorable macro environment driving consumer behavior towards value purchases [5][6] - The loyalty program is experiencing double-digit growth, particularly among younger and higher-income customers, indicating a positive trend for SVV [7] Canada Market Outlook - Canada operations are facing significant headwinds, with deteriorating same-store sales growth and negative consumer demand trends [9] - High interest rates in Canada are expected to pressure household income, particularly as many mortgages are up for refinancing at higher rates [10] Valuation - SVV's valuation is likely to remain depressed due to concerns over Canadian performance, despite a strong outlook in the US [11] - Competitors like Ross Stores and Ollie's Bargain Outlet are seen as better investment options due to clearer growth prospects [11] Conclusion - The overall performance of SVV is expected to be weak in the near term, primarily due to challenges in Canada, which are likely to outweigh the benefits from the US market [12]

Financial Data and Key Metrics Changes - Total net sales increased by 2% to $387 million in Q2 2024, with a constant currency increase of 2.8% [17] - Adjusted EBITDA margin was over 20% for the quarter, demonstrating the resilience of the financial model despite challenges [16] - GAAP net income for the quarter was $9.7 million, or $0.06 per diluted share, while adjusted net income was $23.7 million, or $0.14 per diluted share [21] Business Line Data and Key Metrics Changes - U.S. net sales increased by 5.4% to $207 million, with comparable store sales up by 2.1%, driven by growth in both transactions and average basket [17] - Canadian net sales declined by 2.4% to $150 million, with comparable store sales down by 3.1%, impacted by declines in both transactions and average basket [17] Market Data and Key Metrics Changes - Canadian GDP per capita has declined, and the unemployment rate rose from 5.7% to 6.4% in the first half of the year, affecting consumer spending [5] - Canadian household debt is over 100% of GDP, with debt service costs exceeding 15% of household income, leading to reduced discretionary spending [5][6] Company Strategy and Development Direction - The company plans to open 29 new stores in 2024, including 22 organic openings and 7 acquired locations, with a focus on U.S. expansion [10][25] - Off-site processing capabilities are being enhanced to support new store growth, with more than half of new stores expected to leverage off-site processing [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth despite current challenges in Canada, citing strong brand awareness and customer loyalty [8][9] - The company is lowering its full-year 2024 outlook for total net sales to a range of $1.53 billion to $1.56 billion, reflecting macroeconomic headwinds in Canada [24] Other Important Information - Donations grew by 6% year-over-year, contributing to strong supply levels for existing and new stores [11] - The company has taken steps to strengthen its balance sheet, including paying down debt and increasing its revolving line of credit [22][23] Q&A Session Summary Question: Insights on U.S. store performance and growth - U.S. new stores are exceeding expectations, with strong performance and reliable forecasting supporting long-term growth plans [31][32] Question: Canadian market challenges and guidance adequacy - The current downturn in Canada is unique, with management confident that it is cyclical and will eventually improve [34] Question: Margin protection strategies in Canada - Despite challenges, the company maintained a 20% EBITDA margin, with investments in new stores and off-site processing impacting margins [39] Question: Pricing strategy and customer sensitivity - The company is actively monitoring its price-value relationship and testing aggressive pricing strategies to drive traffic [52][53] Question: Differences between Canadian and U.S. markets - The macroeconomic environment in Canada is currently more challenging, with higher household debt and lower thrift market maturity compared to the U.S. [54] Question: Long-term growth algorithm and expectations - The company anticipates high-single digit annual revenue growth driven primarily by new stores, with EBITDA margins expected to remain near 20% as growth investments mature [56][57]

Savers Value Village (SVV) reported $386.66 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 2%. EPS of $0.14 for the same period compares to $0.22 a year ago. The reported revenue represents a surprise of -1.66% over the Zacks Consensus Estimate of $393.2 million. With the consensus EPS estimate being $0.20, the EPS surprise was -30.00%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

Savers Value Village (SVV) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -30%. A quarter ago, it was expected that this retailer of second-hand merchandise would post earnings of $0.10 per share when it actually produced earnings of $0.08, delivering a surprise of -20%. Over the la ...

Exhibit 99.1 savers value village Savers Value Village, Inc. Reports Second Quarter Financial Results Net sales increased 2.0%, or 2.8% in constant currency 1 Total comparable store sales flat, up 2.1% in the U.S. Opened four new stores, acquired seven and remain on track for 29 new stores in 2024 Bellevue, WA - August 8, 2024 – Savers Value Village, Inc. (NYSE: SVV), (the "Company") today announced financial results for the thirteen weeks ended June 29, 2024 (the "second quarter"). Highlights for the Secon ...

Savers Value Village (SVV) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on August 8, 2024, might help the stock move higher if these key numbers are better t ...

Financial Data and Key Metrics Changes - In Q1 2024, the company reported sales of $354 million and adjusted EBITDA of $60.3 million, representing growth of 2.5% and 2.1% respectively [116] - Comparable sales in the US grew by 2.3%, while Canada experienced a decline of 2.6% [116] - On a two-year stack basis, aggregate comparable store sales increased by 7.5%, with the US up 7.9% and Canada up 6.4% [117] - The cost of merchandise sold as a percentage of net sales increased by 260 basis points to 44.7%, driven by higher material, labor, benefits, and freight costs [100] Business Line Data and Key Metrics Changes - The company opened 12 stores in 2023 and is on track to open 22 stores in 2024, with 21 leases already signed [118] - Newly opened stores are demonstrating strong unit economics with a targeted return on investment exceeding 20% [118] Market Data and Key Metrics Changes - In Canada, the company is facing more difficult macro conditions compared to the US, impacting sales performance [117] - Shopper satisfaction in Canada is reported at 85%, while in the US it is around 87% [21] Company Strategy and Development Direction - The acquisition of 2 Peaches, a regional thrift store chain in Georgia, is seen as a strategic move to establish a presence in the Southeast, a key growth area [122] - The company plans to convert the remaining stores from the 2 Peaches acquisition to the Savers Value Village model, optimizing supply through centralized processing [124] - Continued investments are being made in centralized processing centers and automated book processing units to support growth [126] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the trajectory in the US, noting positive trends in thrift shopping and loyalty program growth [5] - The company anticipates that the second half of the year will see improved adjusted EBITDA, with expectations of mid to high single-digit percentage growth year-over-year [1] - Management acknowledged macroeconomic pressures in Canada but remains confident in the company's value proposition and market positioning [21][61] Other Important Information - The company ended Q1 with $102 million in cash and cash equivalents, with total borrowings of $765.8 million and a net leverage of 2.1 times [101] - A new CFO, Michael Maher, has been appointed, replacing Jay Stasz [99] Q&A Session Summary Question: Health of the US business and traffic trends - Management reported positive trends in the US, with a 2.3% comparable sales increase and strong performance from new stores [5] Question: Drivers of gross margin contraction - Management noted that Q1 is typically the lowest gross margin quarter, with unexpected large benefit claims and misalignment of production hours contributing to margin contraction [6][7] Question: Historical perspective on the Canadian market - Management highlighted strong brand awareness in Canada and low attrition rates among loyalty members, despite macroeconomic challenges [20] Question: Update on central processing centers and productivity initiatives - The company currently operates five centralized processing centers and plans to open a sixth in California, with positive returns on investment from automated book processing units [25][26] Question: Impact of promotional activities in Canada - Management is testing targeted promotional activities in specific markets rather than a nationwide approach, aiming to drive traffic and revenue [56] Question: On-site donations and GreenDrop initiative - On-site donations are performing well, and the GreenDrop initiative is expected to expand, with plans to open 20 to 25 new locations this year [81][82]

Financial Performance - Net sales increased by 2.5% to $354.2 million, with comparable store sales up 0.3%[4] - Adjusted net income rose by 32.3% to $13.9 million, with adjusted net income per diluted share at $0.08[4] - The company ended the first quarter with a net loss of $0.5 million, or $0.00 per diluted share[4] - Adjusted EBITDA increased by 2.1% to $60.3 million, with an adjusted EBITDA margin of 17.0%[4] - Net income for fiscal 2024 is projected to be approximately $85 million to $92 million, an increase from previous estimates[9] - Adjusted net income for the period was $13,863 thousand, compared to $10,480 thousand for the same period in 2023[35] - The company expects adjusted net income for fiscal 2024 to be between $126 million and $133 million, with a GAAP net income forecast of $85 million to $92 million[39] Sales and Store Performance - Fiscal 2024 outlook includes total net sales projected between $1.57 billion and $1.59 billion[9] - Comparable store sales growth is expected to be between 2% and 3% for fiscal 2024[9] - U.S. Retail segment sales increased by 4.7% to $192,580 thousand from $184,021 thousand year-over-year[32] - Comparable store sales growth in the United States was 2.3% for the thirteen weeks ended March 30, 2024, down from 5.6% in the same period last year[46] - The total number of stores increased to 326 as of March 30, 2024, up from 317 a year earlier, with 155 stores in the United States and 159 in Canada[46] - The company plans to add a total of 29 net new stores in 2024, including the acquisition of 7 stores in Georgia[3][5] Loss and Improvement - The net loss for the thirteen weeks ended March 30, 2024, was $467 thousand, a significant improvement from a net loss of $10,195 thousand in the same period last year[29] - For the thirteen weeks ended March 30, 2024, the company reported a net loss of $467,000 compared to a net loss of $10,195,000 for the same period in the previous year, indicating a significant improvement[41] Assets and Liabilities - Cash and cash equivalents decreased to $102,183 thousand from $179,955 thousand at the end of the previous quarter[25] - Total assets decreased to $1,817,955 thousand from $1,867,405 thousand at the end of the previous quarter[25] - Total liabilities decreased to $1,422,998 thousand from $1,491,350 thousand at the end of the previous quarter[25] Other Financial Metrics - The company incurred interest expense of $16,076 thousand, a decrease from $24,470 thousand in the same period last year[27] - Stock-based compensation expense for the thirteen weeks ended March 30, 2024, was $19,129,000, significantly higher than $917,000 in the same period last year[41] - The company recorded transaction costs of $2,257,000 for the thirteen weeks ended March 30, 2024, compared to $940,000 in the prior year[41] - The company processed a supply volume of 238 million pounds for the thirteen weeks ended March 30, 2024, slightly down from 240 million pounds in the previous year[46] - The impact of foreign currency on net sales was a decrease of $20,000, with constant-currency net sales showing a 2.4% increase[43] Acquisition Impact - The acquisition of 2 Peaches is expected to generate approximately $7 million in net sales from May 7, 2024, to December 28, 2024[8]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 10-K ________________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________ Savers Value Village, Inc. ______________ ...

Savers Value Village, Inc. (NYSE:SVV) Q4 2023 Earnings Conference Call March 7, 2024 4:30 PM ET Company Participants Mark Walsh - Chief Executive Officer Jay Stasz - Chief Financial Officer Jubran Tanious - President and Chief Operating Officer Conference Call Participants Matthew Boss - J.P. Morgan Randy Konik - Jefferies Brooke Roach - Goldman Sachs Michael Lasser - UBS Peter Keith - Piper Sandler Anthony Chukumba - Loop Capital Markets Mark Petrie - CIBC Robert Drbul - Guggenheim Mark Altschwager - Rober ...