Savers Value Village (SVV) Q4 2025 earnings summary

Executive summary

• Achieved first quarter of year-over-year Adjusted EBITDA growth in nearly two years, driven by profit gains in both the U.S. and Canada.

• Net sales rose 15.6% to $465 million in Q4, or 8.4% excluding the 53rd week, with comparable store sales up 5.4%.

• U.S. sales grew 20.6% (12.6% excluding 53rd week), with comps up 8.8% due to increased transactions and average basket size.

• Opened 10 new stores in Q4, totaling 26 for the year, with new stores performing in line with expectations.

• Customer base in the U.S. is skewing younger and more affluent, with 40% under 45 and 45% with household income above $100,000.

Financial highlights

• Total net sales increased 15.6% to $465 million; 8.4% growth excluding the 53rd week.

• U.S. net sales reached $266 million, up 20.6% (12.6% ex-53rd week); Canada net sales up 9.1% (3.1% ex-53rd week).

• Comparable store sales increased 5.4% overall; U.S. comps up 8.8%, Canada up 0.7%.

• Adjusted EBITDA was $74.1 million (15.9% of sales); GAAP net income $22.4 million ($0.14/share), adjusted net income $23.8 million ($0.15/share).

• Operating income for Q4 was $43.3 million (9.3% margin), up from $33.1 million (8.2%) year-over-year.

Outlook and guidance

• 2026 guidance: net sales $1.76–$1.79 billion, comparable store sales growth 2.5–4%, net income $66–$78 million, adjusted net income $73–$85 million, Adjusted EBITDA $260–$275 million.

• Capital expenditures expected at $125–$145 million; ~25 new store openings planned, mostly in the U.S.

• Assumes mid-single-digit U.S. comps, flat to low single-digit Canada comps, and no material economic changes.

• Q1 2026 expected to see mid- to high-single-digit revenue growth, with Adjusted EBITDA flat to slightly up.