Savers Value Village, Inc. Reports Fourth Quarter Financial Results

BELLEVUE, Wash.--( BUSINESS WIRE)--Savers Value Village, Inc. (NYSE: SVV), (the “Company”) today announced financial results for the fourteen weeks ended January 3, 2026 (the “fourth quarter”). The Company’s results for both the fourth quarter and full year ended January 3, 2026 included the benefit of one additional week (the "53rd week”) relative to the prior year comparative periods.

Highlights for the Fourth Quarter; Comparisons are to the thirteen weeks ended December 28, 2024

Mark Walsh, Chief Executive Officer of Savers Value Village, Inc. stated, "We are proud of our fourth quarter results, as we delivered a clear inflection in profitability driven by strong U.S. demand, stabilizing trends in Canada, and the contribution from our maturing new stores. These fundamentals give us confidence that we are well-positioned to continue delivering EBITDA growth in 2026 and beyond.”

1 Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin, as well as amounts presented on a constant currency basis, are not measures recognized under U.S. generally accepted accounting principles (“GAAP”). For additional information on our use of non-GAAP financial measures, see “Non-GAAP Financial Measures”, “Constant Currency” and the accompanying financial tables which reconcile GAAP financial measures to these non-GAAP measures.

Stores Update

The following unaudited table summarizes the Company’s store count activity for fiscal 2025:

U.S.

Canada

Australia

Total

December 28, 2024

172

165

351

New stores

Closures

(7)

(3)

(10)

January 3, 2026

179

170

367

Fiscal 2026 Outlook 1

The Company expects the following for the fifty-two weeks ending January 2, 2027 (“fiscal 2026”):

Net sales

$1.76 billion to $1.79 billion

Comparable store sales growth over fiscal 2025 2

2.5% to 4.0%

Net income

$66 million to $78 million, or $0.41 to $0.48 per diluted share

Adjusted net income 3

$73 million to $85 million, or $0.45 to $0.53 per diluted share

Adjusted EBITDA 3

$260 million to $275 million

Capital expenditures

$125 million to $145 million

New store openings

~25

1 The Company’s outlook for fiscal 2026 assumes an exchange rate of 1 Canadian dollar (“CAD”) = 0.72 U.S. dollar (“USD”).

2 The 53rd week in fiscal 2025 resulted in a shift such that fiscal 2026 began a week later than fiscal 2025. Accordingly, comparable store sales are calculated by aligning the sales weeks in fiscal 2026 to the equivalent sales weeks in fiscal 2025.

3 The Company has not presented a quantitative reconciliation of its forward-looking non-GAAP financial measures set out above to their most comparable GAAP financial measures because it cannot predict certain elements that are reported under GAAP, such as (gain) loss on foreign currency, net, without unreasonable effort. For these reasons, we are unable to assess the probable significance of the unavailable information, which could materially impact the amount of future net income. For additional information on our use of non-GAAP financial measures, see “Non-GAAP Financial Measures” below.

Conference Call Information

A conference call to discuss the fourth quarter financial results is scheduled for today, February 19, 2026, at 4:30 p.m. ET.

Investors and analysts who wish to participate in the call are invited to dial +1 800 549 8228 (international callers, please dial +1 289 819 1520) approximately 10 minutes prior to the start of the call. Please reference Conference ID 57467 when prompted. A live webcast of the conference call will be available in the investor relations section of the Company’s website at https://ir.savers.com/events-and-presentations/default.aspx.

A recorded replay of the call will be available shortly after the conclusion of the call and remain available on our website until February 19, 2027. A telephone replay will be available until March 5, 2026. To access the telephone replay, dial +1 888 660 6264 (international callers, please dial +1 289 819 1325). The access code for the replay is 57467#.

About the Savers ® Value Village ® family of thrift stores

As the largest for-profit thrift operator in the U.S. and Canada for value priced pre-owned clothing, accessories and household goods, our mission is to champion reuse and inspire a future where secondhand is second nature. Learn more about the Savers Value Village family of thrift stores, our impact, and the #ThriftProud movement at savers.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” or the negative of these terms or other comparable terminology. In particular, statements about future events and similar references to future periods, or by the inclusion of forecasts or projections, the outlook for the Company’s future business, prospects, financial performance, including its fiscal 2026 and/or longer term outlook or financial guidance, and industry outlook are forward-looking statements. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the impact on both the supply and demand for the Company’s products caused by general economic conditions, such as the macroeconomic pressures in Canada and/or the U.S., and changes in consumer confidence and spending; the Company’s ability to anticipate consumer demand and to source and process a sufficient quantity of quality secondhand items at attractive prices on a recurring basis; risks related to attracting new, and retaining existing customers, including by increasing acceptance of secondhand items among new and growing customer demographics; risks associated with its status as a “brick and mortar” only retailer and its lack of operations in the growing online retail marketplace; its failure to open new profitable stores, or successfully enter new markets on a timely basis or at all; the risks associated with conducting business internationally, including challenges related to serving customers that are international manufacturers and suppliers, such as transportation and shipping challenges, regulatory risks in foreign jurisdictions (particularly in Canada, where the Company maintains extensive operations) and exchange rate risks, which the Company may not choose to fully hedge; the loss of, or disruption or interruption in the operations of, its centralized processing centers and other offsite processing locations; risks associated with litigation, the expense of defense, and the potential for adverse outcomes; its failure to properly hire and to retain key personnel and other qualified personnel or to manage labor costs; risks associated with the timely and effective deployment, protection, and defense of computer networks and other electronic systems, including e-mail; changes in government regulations, procedures and requirements; its ability to maintain an effective system of internal controls and produce timely and accurate financial statements or comply with applicable regulations; risks associated with heightened geopolitical instability due to the conflicts in Venezuela, the Middle East and Eastern Europe; outbreak of viruses or widespread illness, such as the COVID-19 pandemic, natural disasters or other highly disruptive events and regulatory responses thereto; and each of the other factors set forth under the heading “Risk Factors” in its filings with the United States Securities and Exchange Commission. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company is not under any obligation (and specifically disclaims any such obligation) to update or alter these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Financial Measures

The Company reports its financial results in accordance with GAAP. Non-GAAP financial measures used by the Company include Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin. The Company has included these non-GAAP financial measures in this press release as they are key measures used by its management and its board of directors to evaluate its operating performance and the effectiveness of its business strategies, make budgeting decisions, and evaluate compensation decisions. Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin are not calculated or presented in accordance with GAAP and have limitations as analytical tools. You should not consider them in isolation, as a substitute for, or superior to, analysis of the Company’s results as reported under GAAP. There are limitations to using non-GAAP financial measures, including those amounts presented in accordance with the Company’s definitions of Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin, as they may not be comparable to similar measures disclosed by the Company’s competitors, because not all companies and analysts calculate Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin in the same manner. Because of these limitations, you should consider Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin alongside other financial performance measures, including, as applicable, net income (loss) and the Company’s other GAAP results. The Company presents Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin because it considers these meaningful measures to share with investors as they best allow comparison of the performance of one period with that of another period. In addition, by presenting Adjusted net income, Adjusted net income per diluted share, Adjusted EBITDA and Adjusted EBITDA margin, the Company provides investors with management’s perspective of the Company’s operating performance.

The Company defines Adjusted net income as net income (loss) excluding the impact of loss on extinguishment of debt, IPO-related stock-based compensation expense, transaction costs, foreign currency exchange rate impacts, executive transition costs, certain other adjustments, the tax effect on the above adjustments and the excess tax (benefit) shortfall from stock-based compensation. The Company defines Adjusted net income per diluted share as Adjusted net income divided by diluted weighted average common shares outstanding.

The Company defines Adjusted EBITDA as net income (loss) excluding the impact of interest expense, net, income tax expense, depreciation and amortization, loss on extinguishment of debt, stock-based compensation expense, lease intangible asset expense, executive transition costs, transaction costs, foreign currency exchange rate impacts and certain other adjustments. The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net sales, expressed as a percentage.

Constant Currency

The Company reports certain operating results on a constant-currency basis in order to facilitate period-to-period comparisons of its results without regard to the impact of fluctuating foreign currency exchange rates. The term foreign currency exchange rates refers to the exchange rates used to translate the Company's operating results for all countries where the functional currency is not the USD into the USD. Because the Company is a global company, foreign currency exchange rates used for translation may have a significant effect on its reported results. In general, given the Company's significant operations in Canada, the Company's financial results are affected positively by a weakening of the USD against the CAD and are affected negatively by a strengthening of the USD against the CAD. References to operating results on a constant-currency basis indicate operating results without the impact of foreign currency exchange rate fluctuations.

The Company believes disclosure of constant-currency net sales is helpful to investors because it facilitates period-to-period comparisons of its results by increasing the transparency of its underlying performance by excluding the impact of fluctuating foreign currency exchange rates. However, constant-currency results are not calculated or presented in accordance with GAAP and are not meant to be considered as an alternative or substitute for, or superior to, comparable measures prepared in accordance with GAAP. Constant-currency results have no standardized meaning prescribed by GAAP, are not prepared under any comprehensive set of accounting rules or principles and should be read in conjunction with the Company's consolidated financial statements prepared in accordance with GAAP.

Constant-currency results have limitations in their usefulness to investors and may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.

Constant-currency information compares results between periods as if exchange rates had remained constant period-over-period. During the fourteen weeks ended January 3, 2026, as compared to the thirteen weeks ended December 28, 2024, the USD was weaker relative to the CAD and the Australian dollar ("AUD") which resulted in a favorable foreign currency impact on our operating results. During the fifty-three weeks ended January 3, 2026, as compared to the fifty-two weeks ended December 28, 2024, the USD was stronger relative to the CAD and the AUD which resulted in an unfavorable foreign currency impact on our operating results. The Company calculates constant-currency net sales by translating current period net sales using the average exchange rates from the comparative prior period rather than the actual average exchange rates in effect.

SAVERS VALUE VILLAGE, INC.

Condensed Consolidated Statements of Operations

(All amounts in thousands, except per share amounts, unaudited)

Fourteen Weeks

Ended

Thirteen Weeks

Ended

Fifty-Three Weeks

Ended

Fifty-Two Weeks

Ended

January 3, 2026

December 28, 2024

January 3, 2026

December 28, 2024

Amount

% of Sales

Amount

% of Sales

Amount

% of Sales

Amount

% of Sales

Net sales

464,666

100.0

401,985

100.0

1,678,954

100.0

1,537,617

100.0

Operating expenses:

Cost of merchandise sold, exclusive of depreciation and amortization

207,255

44.6

178,178

44.3

750,876

44.7

669,744

43.6

Salaries, wages and benefits

92,695

19.9

82,182

20.4

349,010

20.8

331,023

21.5

Selling, general and administrative

99,481

21.4

92,005

22.9

374,486

22.3

337,131

21.9

Depreciation and amortization

21,900

4.8

16,552

4.2

80,482

4.8

69,530

4.5

Total operating expenses

421,331

90.7

368,917

91.8

1,554,854

92.6

1,407,428

91.5

Operating income

43,335

9.3

33,068

8.2

124,100

7.4

130,189

8.5

Other expense (income):

Interest expense, net

13,889

3.0

15,135

3.8

61,964

3.8

62,444

4.1

(Gain) loss on foreign currency, net

(4,629

)

(1.0

)

14,841

3.7

(11,032

)

(0.7

)

14,294

0.9

Loss on extinguishment of debt

389

0.1

—

35,728

2.1

4,088

0.3

Other expense (income), net

—

151

—

235

—

(71

)

—

Other expense, net

9,747

2.1

30,127

7.5

86,895

5.2

80,755

5.3

Income before income taxes

33,588

7.2

2,941

0.7

37,205

2.2

49,434

3.2

Income tax expense

11,140

2.4

4,837

1.2

14,566

0.9

20,404

1.3

Net income (loss)

22,448

4.8

(1,896

)

(0.5

22,639

1.3

29,030

1.9

Net income (loss) per share, basic

0.14

(0.01

)

0.14

0.18

Net income (loss) per share, diluted

0.14

(0.01

)

0.14

0.17

Basic weighted average shares outstanding

155,841

159,739

156,649

160,911

Diluted weighted average shares outstanding

161,507

159,739

162,779

166,706

SAVERS VALUE VILLAGE, INC.

Condensed Consolidated Balance Sheets

(All amounts in thousands, unaudited)

January 3, 2026

December 28, 2024

Current assets:

Cash and cash equivalents

85,904

149,967

Trade receivables, net

17,094

16,761

Inventories

41,480

34,288

Prepaid expenses and other current assets

52,629

29,208

Total current assets

197,107

230,224

Property and equipment, net

338,995

270,123

Right-of-use lease assets

634,012

552,762

Goodwill

677,884

665,465

Intangible assets, net

153,589

159,330

Other assets

9,300

7,591

Total assets

2,010,887

1,885,495

Current liabilities:

Accounts payable and accrued liabilities

75,636

83,039

Accrued payroll and related taxes

71,295

52,252

Lease liabilities – current

89,586

89,809

Current portion of long-term debt

7,500

6,000

Total current liabilities

244,017

231,100

Long-term debt, net

708,215

735,133

Lease liabilities – non-current

575,962

472,343

Other liabilities

47,114

25,239

Total liabilities

1,575,308

1,463,815

Stockholders’ equity:

Preferred stock

—

Common stock

—

Additional paid-in capital

695,443

657,906

Accumulated deficit

(273,250

)

(250,451

)

Accumulated other comprehensive income

13,386

14,225

Total stockholders’ equity

435,579

421,680

Total liabilities and stockholders’ equity

2,010,887

1,885,495

SAVERS VALUE VILLAGE, INC.

Condensed Consolidated Statements of Cash Flows

(All amounts in thousands, unaudited)

Fifty-Three Weeks

Ended

Fifty-Two Weeks

Ended

January 3, 2026

December 28, 2024

Cash flows from operating activities:

Net income

22,639

29,030

Adjustments to reconcile net income to net cash provided by operating activities:

Stock-based compensation expense

38,602

61,636

Amortization of debt issuance costs and debt discount

4,768

5,611

Depreciation and amortization

80,482

69,530

Operating lease expense

147,671

132,173

Deferred income taxes, net

7,712

(31,880

)

Loss on extinguishment of debt

35,728

4,088

Other items

(12,798

)

9,048

Changes in operating assets and liabilities, net of acquisition:

Trade receivables

(187

)

(5,748

)

Inventories

(6,419

)

(1,898

)

Prepaid expenses and other assets

(26,612

)

1,073

Accounts payable and accrued liabilities

(15,630

)

(8,046

)

Accrued payroll and related taxes

15,554

(10,688

)

Operating lease liabilities

(128,695

)

(122,630

)

Other liabilities

4,465

2,977

Net cash provided by operating activities

167,280

134,276

Cash flows from investing activities:

Purchases of property and equipment

(118,643

)

(105,877

)

Settlement of derivative instruments, net

2,480

28,543

Purchase of marketable securities

(3,087

)

—

Proceeds from sale of marketable securities

783

—

Business acquisition, net of cash acquired

—

(3,189

)

Net cash used in investing activities

(118,467

)

(80,523

)

Cash flows from financing activities:

Proceeds from issuance of long-term debt, net

746,250

—

Principal payments on long-term debt

(781,256

)

(55,500

)

Payment of debt issuance costs

(10,778

)

(1,004

)

Prepayment premium on extinguishment of debt

(20,884

)

(1,485

)

Proceeds from stock option exercises

1,748

3,721

Repurchase of common stock, including excise tax

(45,211

)

(31,674

)

Shares withheld for taxes

(798

)

(560

)

Principal payments on finance lease liabilities

(3,958

)

(1,615

)

Settlement of derivative instrument, net

—

11,925

Other

(1,133

)

(438

)

Net cash used in financing activities

(116,020

)

(76,630

)

Effect of exchange rate changes on cash and cash equivalents

3,144

(7,111

)

Net change in cash and cash equivalents

(64,063

)

(29,988

)

Cash and cash equivalents at beginning of period

149,967

179,955

Cash and cash equivalents at end of period

85,904

149,967

SAVERS VALUE VILLAGE, INC.

Supplemental Detail on Net Income (Loss) Per Share Calculation

(Unaudited)

The following unaudited table sets forth the computation of net income (loss) per basic and diluted share as shown on the face of the accompanying condensed consolidated statements of operations:

Fourteen Weeks

Ended

Thirteen Weeks

Ended

Fifty-Three Weeks

Ended

Fifty-Two Weeks

Ended

(in thousands, except per share data)

January 3, 2026

December 28, 2024

January 3, 2026

December 28, 2024

Numerator:

Net income (loss)

22,448

(1,896

)

22,639

29,030

Denominator:

Basic weighted average shares outstanding

155,841

159,739

156,649

160,911

Dilutive effect of employee stock options and awards

5,666

—

6,130

5,795

Diluted weighted average shares outstanding

161,507

159,739

162,779

166,706

Net income (loss) per share: (1)

Basic

0.14

(0.01

)

0.14

0.18

Diluted

0.14

(0.01

)

0.14

0.17

(1)

SAVERS VALUE VILLAGE, INC.

Supplemental Detail on Segment Results

(Unaudited)

The following unaudited tables present net sales and profit by segment. In each table, “Other” is attributable to the Australia Retail and Wholesale operating segments which have been combined.

Fourteen Weeks

Ended

Thirteen Weeks

Ended

(dollars in thousands)

January 3, 2026

December 28, 2024

$ Change

% Change

Net sales:

U.S. Retail

265,875

220,463

45,412

20.6

Canada Retail

164,894

151,130

13,764

9.1

Other

33,897

30,392

3,505

11.5

Total net sales

464,666

401,985

62,681

15.6

Segment profit:

U.S. Retail

59,948

48,478

11,470

23.7

Canada Retail

43,413

39,824

3,589

9.0

Other

7,382

8,452

(1,070

)

(12.7

Fifty-Three Weeks

Ended

Fifty-Two Weeks

Ended

(dollars in thousands)

January 3, 2026

December 28, 2024

$ Change

% Change

Net sales:

U.S. Retail

940,185

832,581

107,604

12.9

Canada Retail

608,093

586,971

21,122

3.6

Other

130,676

118,065

12,611

10.7

Total net sales

1,678,954

1,537,617

141,337

9.2

Segment profit:

U.S. Retail

195,415

181,949

13,466

7.4

Canada Retail

153,540

163,595

(10,055

)

(6.1

Other

33,411

34,788

(1,377

)

(4.0

SAVERS VALUE VILLAGE, INC.

Supplemental Information

Reconciliation of GAAP to Non-GAAP Financial Measures

(Unaudited)

The following information relates to non-GAAP financial measures and should be read in conjunction with the investor call to be held on February 19, 2026, discussing the Company’s financial condition and results of operations for the fourth quarter.

The following unaudited table presents a reconciliation of GAAP net income (loss) and net income (loss) per diluted share to Adjusted net income and Adjusted net income per diluted share for the periods presented:

Fourteen Weeks

Ended

Thirteen Weeks

Ended

Fifty-Three Weeks

Ended

Fifty-Two Weeks

Ended

(in thousands, except per share amounts)

January 3, 2026

December 28, 2024

January 3, 2026

December 28, 2024

Adjusted net income:

Net income (loss)

22,448

(1,896

)

22,639

29,030

Loss on extinguishment of debt (1)(2)

389

—

35,728

4,088

IPO-related stock-based compensation expense (1)(3)

3,629

8,750

25,496

54,981

Transaction costs (1)(4)

136

—

3,426

2,621

Foreign currency exchange rate impacts (1)(5)

(5,121

)

14,841

(9,812

)

14,294

Executive transition costs (1)(6)

—

689

Other adjustments (1)(7)

1,979

6,529

8,907

4,312

Tax effect on adjustments (8)

671

(4,070

)

(13,952

)

(10,810

)

Excess tax (benefit) shortfall from stock-based compensation

(319

)

223

(2,321

)

Adjusted net income

23,812

24,248

72,655

96,884

Adjusted net income per share, diluted (9):

Net income (loss) per share, diluted

0.14

(0.01

)

0.14

0.17

Loss on extinguishment of debt (1)(2)

—

0.22

0.02

IPO-related stock-based compensation expense (1)(3)

0.02

0.05

0.16

0.33

Transaction costs (1)(4)

—

0.02

Foreign currency exchange rate impacts (1)(5)

(0.03

)

0.09

(0.06

)

0.09

Executive transition costs (1)(6)

—

Other adjustments (1)(7)

0.01

0.04

0.05

0.03

Tax effect on adjustments (8)

—

(0.02

)

(0.09

)

(0.06

)

Excess tax (benefit) shortfall from stock-based compensation

—

(0.01

)

Adjusted net income per share, diluted*

0.15

0.45

0.58

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

The following unaudited table presents a reconciliation of GAAP net income (loss) to Adjusted EBITDA for the periods presented:

Fourteen Weeks

Ended

Thirteen Weeks

Ended

Fifty-Three Weeks

Ended

Fifty-Two Weeks

Ended

(dollars in thousands)

January 3, 2026

December 28, 2024

January 3, 2026

December 28, 2024

Net income (loss)

22,448

(1,896

)

22,639

29,030

Interest expense, net

13,889

15,135

61,964

62,444

Income tax expense

11,140

4,837

14,566

20,404

Depreciation and amortization

21,900

16,552

80,482

69,530

Loss on extinguishment of debt (1)

389

—

35,728

4,088

Stock-based compensation expense (2)

7,427

10,529

38,602

61,636

Lease intangible asset expense (3)

814

868

3,316

3,531

Executive transition costs (4)

—

689

Transaction costs (5)

136

—

3,426

2,621

Foreign currency exchange rate impacts (6)

(5,121

)

14,841

(9,812

)

14,294

Other adjustments (7)

1,082

6,529

4,744

4,312

Adjusted EBITDA

74,104

67,395

255,655

272,579

Net income (loss) margin

4.8

(0.5

1.3

1.9

Adjusted EBITDA margin

15.9

16.8

15.2

17.7

(1)

(2)

Represents non-cash stock-based compensation expense related to stock options and restricted stock units granted to certain of our employees and directors.

(3)

(4)

(5)

(6)

(7)

Constant Currency

The Company calculates constant-currency net sales by translating current-period net sales using the average exchange rates from the comparative prior period rather than the actual average exchange rates in effect. The Company’s constant-currency net sales is not a financial measure prepared in accordance with GAAP.

The following unaudited table presents a reconciliation of GAAP net sales to constant-currency net sales, excluding the benefit of the 53rd week, for the periods presented. In each table, “Other” is attributable to the Australia Retail and Wholesale operating segments which have been combined.

(dollars in thousands)

Net Sales

Benefit of

53rd Week

Impact of

Foreign

Currency

Constant-

Currency Net

Sales

$ Change

Over Prior

Year

% Change

Over Prior

Year

Fourteen Weeks Ended January 3, 2026

U.S. Retail

265,875

(17,552

)

—

248,323

27,860

12.6

Canada Retail

164,894

(9,150

)

(100

)

155,644

4,514

3.0

Other

33,897

(2,221

)

(50

)

31,626

1,234

4.1

Total net sales

464,666

(28,923

)

(150

)

435,593

33,608

8.4

Thirteen Weeks Ended December 28, 2024

U.S. Retail

220,463

n/a

220,463

n/a

Canada Retail

151,130

n/a

151,130

n/a

Other

30,392

n/a

30,392

n/a

Total net sales

401,985

n/a

401,985

n/a

(dollars in thousands)

Net Sales

Benefit of

53rd Week

Impact of

Foreign

Currency

Constant-

Currency Net

Sales

$ Change

Over Prior

Year

% Change

Over Prior

Year

Fifty-Three Weeks Ended January 3, 2026

U.S. Retail

940,185

(17,552

)

—

922,633

90,052

10.8

Canada Retail

608,093

(9,150

)

12,287

611,230

24,259

4.1

Other

130,676

(2,221

)

1,412

129,867

11,802

10.0

Total net sales

1,678,954

(28,923

)

13,699

1,663,730

126,113

8.2

Fifty-Two Weeks Ended December 28, 2024

U.S. Retail

832,581

n/a

832,581

n/a

Canada Retail

586,971

n/a

586,971

n/a

Other

118,065

n/a

118,065

n/a

Total net sales

1,537,617

n/a

1,537,617

n/a

n/a - not applicable

Supplemental Metrics

In addition to the financial and operational metrics set forth elsewhere in this press release, the Company uses the below supplemental metrics to evaluate the performance of its business, identify trends, formulate financial projections and make strategic decisions. The Company believes these metrics provide useful information to investors and others in understanding and evaluating its results of operations in the same manner as its management team.

The following unaudited table summarizes certain supplemental metrics for the periods presented:

Fourteen Weeks

Ended

Thirteen Weeks

Ended

Fifty-Three Weeks

Ended

Fifty-Two Weeks

Ended

January 3, 2026

December 28, 2024

January 3, 2026

December 28, 2024

Pounds processed (lbs mm)

288

259

1,111

1,012

On-site donations and GreenDrop as a % of total pounds processed

78.4

74.9

78.0

76.3

Sales yield (1)

1.57

1.50

1.47

1.46

Cost of merchandise sold per pound processed

0.72

0.69

0.68

0.66

(1)