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Dec 30, 2023
Savers Q4 2023 Earnings Report
Savers Value Village reported Q4 2023 financial results, showing increased net sales and comparable store sales.
Key Takeaways
Savers Value Village reported a 4.4% increase in net sales to $382.8 million and a 2.6% increase in comparable store sales. Net income increased 66.0% to $43.9 million, or $0.27 per diluted share. The company opened five new stores during the quarter, ending with a total of 326 stores.
Net sales increased 4.4% to $382.8 million.
Comparable store sales increased 2.6%, with the U.S. and Canada up 3.1% and 2.0%, respectively.
Sales yield increased 2.0% to $1.54 per pound.
Net income increased 66.0% to $43.9 million, or $0.27 per diluted share.
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 expects to open approximately 22 new stores, with total net sales of approximately $1.57 to $1.59 billion and comparable store sales growth of approximately 2% to 3%.
Positive Outlook
- Opening of approximately 22 new stores
- Total net sales of approximately $1.57 to $1.59 billion
- Comparable store sales growth of approximately 2% to 3%
- Net income of approximately $78 million
- Adjusted net income of approximately $123 million
Challenges Ahead
- Capital expenditures in the range of $105 to $115 million
- Uncertainty in the general economic conditions
- Potential impact on supply and demand caused by changes in consumer confidence and spending
- Risk related to attracting new, and retaining existing customers
- Failure to open new profitable stores
Revenue & Expenses
Visualization of income flow from segment revenue to net income