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Jun 29, 2024
Savers Q2 2024 Earnings Report
Reported a net sales increase of 2.0%, with comparable store sales decreasing slightly. Four new stores were opened and seven were acquired.
Key Takeaways
Savers Value Village reported a 2.0% increase in net sales to $386.7 million. Comparable store sales decreased by 0.1%, with U.S. sales increasing by 2.1% and Canada decreasing by 3.1%. The company opened four new stores and acquired seven, ending the quarter with 337 stores.
Net sales increased by 2.0% to $386.7 million.
Comparable store sales decreased by 0.1%.
Opened four new stores and acquired seven, totaling 337 stores.
Total active members enrolled in loyalty programs increased 11.8% to 5.7 million.
Savers
Savers
Savers Revenue by Geographic Location
Revenue by Geographic Location
U.S. Retail Revenue
CapyFin.comCanada Retail Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The Company’s updated outlook for the fifty-two weeks ending December 28, 2024 includes total net sales of approximately $1.53 billion to $1.56 billion and comparable store sales of approximately -1% to 1%.
Positive Outlook
- Total of 29 new stores, consisting of 22 organic new store openings (unchanged) and 7 stores from our 2 Peaches acquisition (unchanged)
- Capital expenditures of approximately $105 million to $115 million (unchanged)
- Diluted weighted average common shares outstanding of approximately 168 million (from 171 million previously).
Challenges Ahead
- Total net sales of approximately $1.53 billion to $1.56 billion (from $1.57 billion to $1.59 billion previously)
- Comparable store sales of approximately -1% to 1% (from 2% to 3% previously)
- Net income of approximately $42 million to $56 million (from $85 million to $92 million previously)
- Adjusted net income of approximately $82 million to $96 million (from $126 million to $133 million previously)
- Adjusted EBITDA of approximately $290 million to $310 million (from $330 million to $340 million previously)
Revenue & Expenses
Visualization of income flow from segment revenue to net income