Financial Data and Key Metrics Changes - Q4 revenue grew 18.5% year-over-year, totaling $79.7 million, while gross margin was 79.6% and adjusted EBITDA was 3.7% of revenue [4][20] - For the full year 2025, revenue reached $310.8 million, representing 20% year-over-year growth, with a gross margin of 79.4% and adjusted EBITDA of $14 million, or 4.4% of revenue [6][20] Business Line Data and Key Metrics Changes - New buyer acquisition increased by 57% year-over-year, while active buyers for the trailing 12 months rose by 30% [5][21] - The company processed a record 21.1 million items, reflecting a volume growth of over 17% [6] Market Data and Key Metrics Changes - The company noted that the macroeconomic environment for discretionary spending remains uncertain, with consumers facing an affordability crisis [10] - Job growth was weak, and nearly 90% of the tariff burden fell on firms and consumers, impacting consumer spending behavior [9][10] Company Strategy and Development Direction - The company aims to build on its path towards sustained, profitable growth by enhancing structural drivers of its marketplace flywheel, focusing on full funnel buyer growth, high-quality supply, and AI-driven innovation [11] - The strategy includes evolving from pure acquisition to deepening relationships with new cohorts, emphasizing retention alongside acquisition [12] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the current consumer environment but believes their marketplace model is well-positioned to capture demand as consumers prioritize value [10] - The company is transitioning from recovery to compounding progress, leveraging AI to enhance customer experience and operational efficiency [17][18] Other Important Information - The company achieved its first year of annual free cash flow in 2025, with a cash and securities balance of $53.1 million at year-end [22][23] - The company plans to maintain similar levels of capital expenditures in 2026 while expanding free cash flow [23] Q&A Session Summary Question: Guidance for Q1 and revenue expansion pacing - Management indicated that the guidance reflects a conservative approach due to uncertainty, with expectations for Q1 to be the smallest quarter in terms of revenue and EBITDA [30][33] Question: Confidence in revenue growth acceleration - Management emphasized the normal cadence of business, with expectations for sequential growth from Q1 to Q2 driven by customer engagement and seasonal trends [47] Question: Customer acquisition costs and efficiencies - Management acknowledged a slight increase in customer acquisition costs but expects strong momentum in acquiring new buyers, focusing on expanding long-term customer value [58] Question: Performance of premium assortment and ASPs - Management reported that the premium portion of the business grew to represent 17% of sales, positively impacting average selling prices [66] Question: Bulk import process for peer-to-peer selling - Management explained that the bulk import feature allows sellers to easily transfer listings from other platforms, reducing switching costs and attracting established sellers [82]

Financial Data and Key Metrics Changes - In Q4 2025, revenue grew by 18.5% year-over-year, reaching $79.7 million, while gross margin was 79.6% and Adjusted EBITDA was 3.7% of revenue [5][20][22] - For the full year 2025, the company achieved record revenue of $310.8 million, representing 20% year-over-year growth, with a gross margin of 79.4% and Adjusted EBITDA of $14 million, or 4.4% of revenue [6][20] Business Line Data and Key Metrics Changes - The company reported a record 1.7 million active buyers, a 30% increase year-over-year, and processed 21.1 million items, reflecting over 17% volume growth [6][20] - New buyer acquisition surged by 57% year-over-year in Q4, contributing to increased customer engagement [5][20] Market Data and Key Metrics Changes - The company noted that the macroeconomic environment for discretionary spending remains uncertain, with consumers facing affordability challenges due to rising non-discretionary costs [10][11] - Despite these challenges, the company believes its marketplace model is well-positioned to capture demand as consumers prioritize value [11] Company Strategy and Development Direction - The company aims to enhance its marketplace flywheel by focusing on full funnel buyer growth, high-quality supply, and AI-driven innovations to reduce friction in shopping second-hand [12] - The strategy includes deepening relationships with new cohorts of customers and expanding the Premium Kit offering to drive supply growth [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the current consumer environment but remains optimistic about the company's ability to grow and innovate [11][25] - The company plans to continue investing in customer acquisition and product innovation while maintaining expense discipline [25] Other Important Information - The company achieved its first year of positive total cash flow in 2025 and expects similar levels of capital expenditures in 2026 [24][27] - The company is leveraging AI to enhance customer experience and operational efficiency, including the introduction of an AI customer service agent [18][19] Q&A Session Summary Question: Guidance for Q1 and revenue expansion pacing - Management indicated that the guidance for Q1 reflects a conservative approach due to uncertainty in the market, with expectations for revenue growth to accelerate in Q2 [31][34] Question: Confidence in revenue growth acceleration - Management emphasized the normal cadence of business operations, with expectations for sequential growth from Q1 to Q2 driven by customer engagement and seasonal trends [47] Question: Customer acquisition costs and efficiencies - Management acknowledged a slight increase in customer acquisition costs due to marketing investments but expects strong momentum in acquiring new buyers [58] Question: Performance of premium assortment and ASPs - Management reported that the premium segment grew to represent 17-18% of the business, contributing to higher average selling prices [66] Question: Bulk import process for peer-to-peer selling - Management explained that the bulk import feature simplifies the process for sellers to transition from other platforms, reducing switching costs [84]

Company Performance - Savers Value Village (SVV) is expected to report quarterly earnings of $0.16 per share, reflecting a year-over-year increase of 60% [1] - Revenues are projected to be $464.69 million, which represents a 15.6% increase from the same quarter last year [1] - Analysts have maintained the consensus EPS estimate for the quarter over the past 30 days, indicating stability in projections [1] Revenue Breakdown - U.S. Retail revenue is estimated to reach $258.08 million, indicating a year-over-year change of +17.1% [4] - 'Other' revenue is projected at $34.18 million, reflecting a +12.5% change from the prior-year quarter [4] - Canada Retail revenue is expected to be $161.06 million, suggesting a +6.6% year-over-year change [4] Store Metrics - The total number of stores is expected to be 376, up from 351 in the same quarter of the previous year [5] - The number of stores in the United States is forecasted to reach 186, compared to 172 a year ago [5] - The number of stores in Canada is projected to be 172, an increase from 165 in the prior year [5] Comparable Store Sales Growth - Comparable Store Sales Growth in the United States is expected to be 6.4%, up from 4.7% in the previous year [6] Stock Performance - Shares of Savers Value have shown a return of +7.7% over the past month, contrasting with the Zacks S&P 500 composite's -1.4% change [6] - SVV holds a Zacks Rank of 3 (Hold), indicating it is expected to perform in line with the overall market in the near future [6]

Core Insights - Interparfums, Inc. reported second-quarter 2025 results with both net sales and earnings missing the Zacks Consensus Estimate, showing year-over-year declines [1][3][9] Sales and Earnings Performance - The company posted quarterly earnings of $0.99 per share, a 13% decrease from $1.14 in the prior-year period, missing the estimate of $1.10 [3][9] - Consolidated net sales were $334 million, down 2% from $342 million in the year-ago period, also missing the estimate of $341 million [3][9] Cost and Margin Analysis - Interparfums achieved a consolidated gross margin of 66.2%, reflecting a 170-basis-point increase compared to the prior-year period, driven by a favorable segment and brand mix [4][9] - Selling, general and administrative expenses accounted for 48.5% of net sales, an increase of 290 basis points year-over-year, attributed to higher advertising and promotional expenditures, which represented 20.6% of net sales [5] Financial Health - The company ended the quarter with cash and cash equivalents of $151.5 million, long-term debt of $153.1 million, and total equity of $1,056.8 million [6] - A cash dividend of $0.80 per share was announced, payable on September 30, 2025, to shareholders of record as of September 15 [6] Future Outlook - Management noted strong U.S. demand, which accounted for 35% of second-quarter sales, despite a slowdown in global fragrance market growth [2] - The company reaffirmed its 2025 guidance, estimating net sales of $1.51 billion and earnings per share of $5.35, while remaining cautious about macroeconomic uncertainties [7][9]

Group 1 - Savers Value Village (SVV) reported revenue of $417.21 million for the quarter ended June 2025, a year-over-year increase of 7.9% [1] - The EPS for the same period was $0.14, unchanged from a year ago, with a surprise of +16.67% compared to the consensus estimate of $0.12 [1] - The reported revenue exceeded the Zacks Consensus Estimate of $407.82 million by +2.3% [1] Group 2 - Comparable Store Sales Growth was 4.6%, significantly above the four-analyst average estimate of 2.3% [4] - U.S. Comparable Store Sales Growth was 6.2%, compared to the 3.8% average estimate based on three analysts [4] - Canada Comparable Store Sales Growth was 2.6%, exceeding the -0.2% average estimate based on three analysts [4] Group 3 - The number of stores in the United States was 171, slightly below the two-analyst average estimate of 176 [4] - The total number of stores was 354, compared to the 359 estimated by two analysts on average [4] - U.S. Retail revenue was $228.83 million, surpassing the $223.99 million average estimate based on two analysts, representing a +10.5% year-over-year change [4] Group 4 - Other revenue was reported at $33.42 million, close to the $33.54 million average estimate, reflecting a +12.3% year-over-year change [4] - Canada Retail revenue was $154.96 million, exceeding the $152.38 million estimate, with a +3.4% year-over-year change [4] Group 5 - Shares of Savers Value have returned -9.7% over the past month, while the Zacks S&P 500 composite increased by +2.7% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential outperformance against the broader market in the near term [3]

Financial Data and Key Metrics Changes - Total net sales increased by 4.5% to $370 million, with a constant currency increase of 7.1% and comparable store sales growth of 2.8% [14][15] - Adjusted EBITDA for the quarter was approximately $43 million, representing an adjusted EBITDA margin of 11.6% [6][18] - GAAP net loss for the quarter was $4.7 million, or $0.03 per diluted share, which included a $2.7 million pretax loss on debt extinguishment [17] Business Line Data and Key Metrics Changes - U.S. net sales increased by 9.4% to $211 million, with comparable store sales up by 4.2%, driven by growth in both transactions and average basket size [15][16] - Canadian net sales declined by 4.1% due to a weaker Canadian dollar, but on a constant currency basis, they increased by 2.2% to $137 million, with comparable store sales up by 0.6% [15][16] Market Data and Key Metrics Changes - The U.S. business showed nearly double-digit sales growth, while Canada reported positive comparable sales for the first time since Q4 2023 [5][14] - The company noted stable macroeconomic conditions in both the U.S. and Canada during the first quarter, despite ongoing consumer confidence volatility [9][10] Company Strategy and Development Direction - The company plans to open 25 to 30 new stores in 2025, with a focus on U.S. expansion [10][25] - The company is leveraging centralized processing centers to support new store growth and improve operational efficiency [11][12] - The management emphasized a conservative approach to planning comparable store sales growth, particularly in Canada, while remaining optimistic about U.S. performance [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's long-term growth prospects, citing strong execution and a compelling value proposition [13][22] - The company is monitoring consumer sentiment and potential impacts from tariffs, but remains focused on operational control and innovation [9][10][24] - The outlook for 2025 includes net sales of $1.61 billion to $1.65 billion and adjusted EBITDA of $245 million to $265 million [25] Other Important Information - The company redeemed $44.5 million of senior secured notes during the quarter, resulting in a net leverage ratio of 2.4 times [21] - The company repurchased approximately 1.4 million shares at a weighted average price of $8.43 per share, with $6.3 million remaining on the share repurchase authorization [21] Q&A Session Summary Question: Insights on U.S. Strength and Customer Trends - Management noted strong performance in the U.S. with growth in both transactions and average basket size, and emphasized the importance of their loyalty program [29][34] Question: Future Outlook for Canada - Management expressed cautious optimism about Canada, highlighting strong donation flows and stable economic indicators, but refrained from declaring victory [31][33] Question: Continuous Improvement Processes - Management discussed the implementation of automated book processing and various tactical improvements to enhance store operations [37][40] Question: Pricing Strategy in a Competitive Environment - Management indicated that widening price gaps could present opportunities for market share gains, but they are not planning to raise prices immediately [44][46] Question: Impact of Macroeconomic Conditions on Donations - Management reported robust growth in on-site donations and low turnover rates, indicating no current issues with labor availability [49][52] Question: New Store Performance and Long-term EBITDA Margins - Management confirmed that new stores are performing as expected and reiterated that high teens EBITDA margins remain achievable in the long term [78][81] Question: Real Estate Opportunities and Two Peaches Integration - Management is actively prospecting for new store locations and reported positive integration progress with the Two Peaches acquisition [86][92]

Core Insights - ThredUp Inc. reported a year-over-year revenue increase in Q4 2024, meeting the Zacks Consensus Estimate, but the bottom line showed a decline, missing the Consensus Estimate [1][3]. Financial Performance - Revenue for Q4 2024 increased by 9.5% year over year to $67.3 million, driven by marketing investments, AI enhancements, and a renewed focus on core business post-European divestiture [4]. - Consignment revenues grew by 16.6% to $64.6 million, while product revenues fell by 55.8% to $2.7 million [5]. - Active buyers decreased by 6% year over year to 1.3 million, but order growth increased by 2% to 1.2 million [5]. - Gross profit rose by 14% year over year to $54.1 million, with a gross margin of 80.4%, reflecting a 290-basis-point increase [6]. - Operating expenses increased by 10.7% to $62.3 million compared to the prior year [6]. - Adjusted EBITDA for Q4 2024 was $5 million, doubling from $2.5 million in the prior year, with an adjusted EBITDA margin of 7.4% [7]. Cash Flow and Capital Expenditures - The company ended the quarter with cash and cash equivalents of $31.9 million and total stockholders' equity of $56.3 million [8]. - Net cash provided by operating activities was $4.9 million for the 52-week period ending December 31, 2024, with total capital expenditures of $2.5 million for the quarter [8]. Future Guidance - For Q1 2025, ThredUp expects revenue between $67.5 million and $69.5 million, indicating a 6% year-over-year increase at the mid-point, with a gross margin between 77% and 79% [11]. - For the full year 2025, projected revenues are between $270 million and $280 million, also implying a 6% year-over-year increase at the mid-point, with an adjusted EBITDA margin expected to remain flat at 3.3% [12].