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Jul 01, 2023
Savers Q2 2023 Earnings Report
Savers Value Village, Inc. reported an increase in sales and comparable store sales with a rise in net income for the second quarter of 2023.
Key Takeaways
Savers Value Village, Inc. announced its Q2 2023 financial results, which showed a 4.0% increase in net sales to $379.1 million. Comparable store sales also increased by 5.5%. Net income increased by 13.6% to $35.1 million, or $0.24 per diluted share. The company's adjusted EBITDA increased by 4.7% to $89.3 million.
Net sales increased 4.0% to $379.1 million.
Comparable store sales increased 5.5%, with U.S. and Canada up 5.6% and 5.5%, respectively.
Sales yield increased 8.0% to $1.49 per pound.
Net income increased 13.6% to $35.1 million, or $0.24 per diluted share.
Revenue by Geographic Location
Forward Guidance
The Company expects for fiscal year 2023: opening of approximately 12 new stores, total net sales of approximately $1.51 billion, comparable store sales growth increase of approximately 5.0%, net income of approximately $23 million, adjusted net income of approximately $98 million, adjusted EBITDA of approximately $320 million, capital expenditures in the range of $100 to $105 million, and GAAP-based diluted weighted average common shares outstanding of approximately 160.0 million.
Positive Outlook
- Opening of approximately 12 new stores
- Total net sales of approximately $1.51 billion
- Comparable store sales growth increase of approximately 5.0%
- Adjusted net income of approximately $98 million
- Adjusted EBITDA of approximately $320 million
Challenges Ahead
- Net income of approximately $23 million
- Capital expenditures in the range of $100 to $105 million
- GAAP-based diluted weighted average common shares outstanding of approximately 160.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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