U.S. Business Performance
The U.S. business saw double-digit total revenue growth, driven by accelerating new store growth and strong comparable store sales. Net sales in the U.S. increased by 10.5% to $220 million, with comparable store sales increasing by 4.7%.
Loyalty Program Growth
The loyalty program experienced double-digit percent growth in active members over the last year, with loyalty members accounting for 72% of total sales in the quarter, up from 70% last year.
New Store Openings
Savers Value Village opened 9 new stores in the quarter, meeting the 2024 new store targets. They plan to open 25 to 30 new stores in 2025 and have a targeted 20% store-level adjusted EBITDA margin for long-term profitable growth.
Adjusted EBITDA Performance
The company generated $74 million of adjusted EBITDA in the quarter, representing more than 18% of sales.
Strong Balance Sheet
The company has a strong balance sheet with $150 million in cash and cash equivalents and a net leverage ratio of 2.1x at the end of the quarter.