Savers Value Village(SVV) - 2025 Q1 - Quarterly Results

Sales Performance - Total net sales increased by 4.5% to $370.1 million, with constant-currency net sales rising by 7.1% and comparable store sales up by 2.8%[7] - In the U.S., net sales grew by 9.4% and comparable store sales increased by 4.2%, while in Canada, net sales decreased by 4.1% due to foreign currency impacts, but constant-currency net sales rose by 2.2%[7] - U.S. Retail segment sales increased by 9.4% to $210,765 thousand, while Canada Retail segment sales decreased by 4.1% to $128,635 thousand[34] - Comparable store sales in the U.S. increased by 4.2%, while Canada saw a slight increase of 0.6% for the same period[51] - For the thirteen weeks ended March 29, 2025, total net sales reached $370.145 million, reflecting a 7.1% increase over the prior year[49] Financial Performance - Adjusted net income was $3.6 million, or $0.02 per diluted share, while the net loss was $4.7 million, or $0.03 per diluted share[7] - Operating income decreased to $10,403 thousand, down 36.5% from $16,267 thousand year-over-year[24] - The net loss for the period was $4,723 thousand, compared to a net loss of $467 thousand in the prior year, reflecting a significant increase in losses[24] - Adjusted net income for the period was $3,615 thousand, compared to $15,679 thousand in the same period last year[36] - Basic net loss per share was $(0.03), compared to $(0.00) in the prior year[31] Future Outlook - The company plans to open 25 to 30 new stores in fiscal 2025, with projected net sales between $1.61 billion and $1.65 billion[8] - Fiscal 2025 net income is expected to be between $36 million and $52 million, or $0.21 to $0.31 per diluted share[8] - Adjusted net income for fiscal 2025 is projected to be between $62 million and $77 million, or $0.37 to $0.46 per diluted share[8] - Adjusted EBITDA for fiscal 2025 is expected to be between $245 million and $265 million, with net income margin at approximately 1.3%[44] Capital and Assets - Total current assets decreased to $164,325 thousand from $230,224 thousand at the end of the previous quarter[27] - Cash and cash equivalents at the end of the period were $73,019 thousand, down from $149,967 thousand at the beginning of the period[29] - Total liabilities decreased slightly to $1,445,375 thousand from $1,463,815 thousand[27] - Capital expenditures for fiscal 2025 are estimated to be between $125 million and $150 million[8] Membership and Donations - The total active members in the U.S. and Canadian loyalty programs increased by high-single digits to nearly 6.0 million[7] - The company processed 262 million pounds, with on-site donations and GreenDrop accounting for 74.0% of total pounds processed[51] - The sales yield per pound processed was $1.38, slightly down from $1.41 in the previous year[51] Currency Impact - Adjusted EBITDA was $42.8 million, with an Adjusted EBITDA margin of 11.6%, negatively impacted by $1.5 million due to foreign currency exchange rates[7] - The impact of foreign currency on net sales was $9.147 million, indicating a positive adjustment in constant currency net sales[49] - Adjusted EBITDA margin for the thirteen weeks ended March 29, 2025, was 11.6%, down from 16.0% in the previous year[42]