Loading...
•
Mar 30, 2024
Savers Q1 2024 Earnings Report
Savers Value Village's first quarter results were reported, featuring increased sales and strategic acquisition.
Key Takeaways
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.
Revenue by Geographic Location
Forward Guidance
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.
Positive Outlook
- Store base increase of approximately 29, consisting of 22 new stores and 7 stores from our Two Peaches acquisition
- 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 (from $78 million previously)
- Adjusted net income of approximately $126 million to $133 million (from $123 million previously)
Challenges Ahead
- Adjusted EBITDA of approximately $330 million to $340 million (from $340 million previously)
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...