Savers Value Village, Inc. Reports Preliminary Sales Results
BELLEVUE, Wash. – Savers Value Village, Inc. (NYSE: SVV) has released its preliminary net sales for the recent quarter along with its full year results for fiscal 2024. This announcement coincides with the Company’s upcoming participation in the ICR Conference scheduled for mid-January 2025.
Sales Performance Highlights
The Company highlighted key performance metrics for the thirteen-week period ending in late December. Net sales for the fourth quarter reflected a robust increase of 5.0%, reaching $402.0 million. Adjustments for currency fluctuations indicated a 6.0% rise in constant currency sales, translating to approximately $405.9 million. Notably, the U.S. market experienced a commendable 10.5% growth while Canadian sales remained relatively steady with a slight decline of 0.2%.
Yearly Sales Overview
In terms of fiscal 2024 sales performance, Savers reported a total net revenue of $1.54 billion, marking a 2.5% increase compared to the previous year. In constant currency terms, fiscal sales increased by 3.1%, attributed mainly to a 6.7% increase in the U.S., even as sales in Canada saw a slight decline of 1.6%.
Adjusted EBITDA Outlook
Given the preliminary sales figures, Savers Value Village reaffirms its fiscal 2024 Outlook, anticipating an Adjusted EBITDA in the range of $290 million to $300 million. This figure demonstrates the Company's continued commitment to strong earnings amid expanding sales channels.
CEO’s Commentary on Growth
Mark Walsh, the Company’s Chief Executive Officer, expressed satisfaction with the sales performance, emphasizing improvements in both the U.S. and Canadian markets. He noted, “Our teams are successfully driving double-digit revenue growth in the U.S., supported by accelerated store growth and solid comparable sales. We are determined to progress through ongoing challenges in the Canadian market. Our expansion strategy remains on course, with plans to open between 25 and 30 new stores in 2025.”
Participation in the Upcoming ICR Conference
Savers Value Village will present at the ICR Conference on January 13, 2025, addressing investors and stakeholders. During this event, key executives, including Mark Walsh, will discuss the Company’s strategic initiatives and insights on the retail market.
Webcast Details
The presentation will be available to view via a live webcast at 8:00 AM EST, further extending the Company's reach to its investor community.
About Savers Value Village
Savers Value Village™ is the largest for-profit thrift operator in the U.S. and Canada, providing valued priced pre-owned clothing, household goods, and accessories. The Company’s mission is to inspire a culture of reuse and ensure that secondhand shopping becomes a popular choice for consumers. To learn more about Savers Value Village and its positive impact on communities, please visit the Company’s website.
Frequently Asked Questions
What are the key sales figures reported by Savers Value Village?
Savers Value Village reported a 5.0% increase in net sales for the fourth quarter, totaling $402.0 million.
How did the U.S. and Canadian markets perform?
The U.S. market saw a 10.5% increase in sales, while Canadian sales experienced a slight decline of 0.2% for the fourth quarter.
What is Savers Value Village’s outlook for Adjusted EBITDA?
The Company projects its Adjusted EBITDA for fiscal 2024 will be between $290 million and $300 million.
When will Savers Value Village participate in the ICR Conference?
Savers will present at the ICR Conference from January 13-15, 2025.
What is the mission of Savers Value Village?
The mission of Savers Value Village is to promote reuse and make secondhand shopping a natural choice for consumers.
