Savers Value Village Inc · Q1 2024 earnings

Briefing

Savers Value Village's first quarter results were reported, featuring increased sales and strategic acquisition.

Savers Value Village reported a 2.5% increase in net sales to $354.2 million and a 0.3% increase in comparable store sales. The company acquired a thrift store chain in Georgia, expanding its presence into the U.S. Southeast. Net loss was $0.5 million, or $0.00 per diluted share, while adjusted net income increased 32.3% to $13.9 million, or $0.08 per diluted share.

• Net sales increased by 2.5% to $354.2 million.
• Comparable store sales grew by 0.3%, with a 2.3% increase in the U.S. and a 2.6% decrease in Canada.
• The acquisition of a thrift store chain with seven locations in Georgia was completed, marking entry into the U.S. Southeast.
• The company now plans to add a total of 29 net new stores in 2024.

Headline financials

Revenue & EPS history

The Company’s updated outlook for the fifty-two weeks ended December 28, 2024 includes a store base increase of approximately 29, total net sales of approximately from $1.57 to $1.59 billion, comparable store sales growth of approximately from 2% to 3%, net income of approximately $85 million to $92 million, Adjusted net income of approximately $126 million to $133 million, Adjusted EBITDA of approximately $330 million to $340 million, Capital expenditures of approximately $105 to $115 million, and Diluted weighted average common shares outstanding of approximately 171 million.