Savers Value Village, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 30, 2023
March 07, 2024 at 09:05 pm
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Savers Value Village, Inc. reported earnings results for the fourth quarter and full year ended December 30, 2023. For the fourth quarter, the company reported sales was USD 382.77 million compared to USD 366.8 million a year ago. Net income was USD 43.87 million compared to USD 26.43 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 0.18 a year ago.
For the full year, sales was USD 1,500.25 million compared to USD 1,437.23 million a year ago. Net income was USD 53.12 million compared to USD 84.72 million a year ago. Basic earnings per share from continuing operations was USD 0.35 compared to USD 0.6 a year ago. Diluted earnings per share from continuing operations was USD 0.34 compared to USD 0.58 a year ago.
Savers Value Village, Inc., together with its subsidiaries, sells second-hand merchandise in retail stores located in the United States (U.S.), Canada and Australia. Its segments include U.S. Retail and Canada Retail. It provides low-priced merchandise ranging from clothing to home goods in a treasure-hunt shopping environment. It purchases secondhand textiles, shoes, accessories, housewares, books and other goods from its non-profit partners, either directly from them or via on-site donations at Community Donation Centers at its stores and through GreenDrop locations. It then processes, selects, put price, merchandise and sells these items in its stores. The items that are not sold to its retail customers are marketed to wholesale customers, who reuse or repurpose the items they purchase from the Company. It operates over 326 stores under the Savers, Value Village, Village des Valeurs, Unique and 2nd Ave. banners. It also owns a thrift store chain with seven locations in Georgia.