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Savers Value (SVV) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
ZACKS· 2024-08-09 00:01
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) Q2 Earnings and Revenues Miss Estimates
ZACKS· 2024-08-08 23:41
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 ...
Savers Value Village(SVV) - 2024 Q2 - Quarterly Results
2024-08-08 20:08
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 ...
Analysts Estimate Savers Value Village (SVV) to Report a Decline in Earnings: What to Look Out for
ZACKS· 2024-08-01 15:06
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 ...
Savers Value Village(SVV) - 2024 Q1 - Earnings Call Transcript
2024-05-10 19:51
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]
Savers Value Village(SVV) - 2024 Q1 - Quarterly Results
2024-05-09 20:08
Exhibit 99.1 Savers Value Village, Inc. Reports First Quarter Financial Results and Acquisition of Thrift Store Chain with Seven Locations in Georgia Sales increased 2.5% Comparable store sales increased 0.3% Entering the U.S. Southeast with seven store acquisition Net store growth now targeted at 29 in 2024 with acquisition Bellevue, WA - May 9, 2024 – Savers Value Village, Inc. (NYSE: SVV), (the "Company") today announced financial results for the thirteen weeks ended March 30, 2024 (the "first quarter"). ...
Savers Value Village(SVV) - 2023 Q4 - Annual Report
2024-03-08 21:16
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(SVV) - 2023 Q4 - Earnings Call Transcript
2024-03-08 01:48
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 ...
Savers Value Village(SVV) - 2023 Q3 - Quarterly Report
2023-11-13 13:57
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q ____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 001-41733 ____________________________ ...