Savers Value Village expects tech rollout through early 2028
SVV's roadmap ties expected annual margin gains to comparable-store leverage, productivity initiatives and maturing new stores.
Sentiment and the balance of points
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Form Type
8-K
Rhea-AI Filing Summary
Savers Value Village, Inc. (SVV) hosted an Innovation Day showcasing ThriftIQ, its pricing platform, and patent-pending Autotagger and integrated Image Capture technologies. The company expects to continue deploying the innovations across U.S. and Canadian locations through early 2028.
The presentation’s Q3 2026 highlights list net sales up 8.5% to $463 million, comparable-store sales up 4.2%, $52 million of debt repaid and 9 new stores opened. Updated FY2026 guidance is adjusted net income of $76 million to $83 million, or $0.48 to $0.52 per diluted share, and adjusted EBITDA of $270 million to $275 million.
SVV’s three-year roadmap targets annual Adjusted EBITDA margin expansion of 50 to 100 basis points and high-single-digit total revenue growth, with approximately 25 new store openings annually. Adjusted EBITDA margin and net leverage ratio are non-GAAP measures.
1 point · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointQ3 net sales grew 8.5% to $463 million.
Negative
- None.
Filing Explained
ThriftIQ is live in one hundred eight stores and has priced more than forty million items; the company reports faster gross-profit-dollar growth at those stores.
Savers Value Village hosted an Innovation Day on
ThriftIQ is live in 108 stores and has priced more than 40 million items; the company reports gross-profit-dollar growth about
The presentation also sets a target of a net leverage ratio below 2x by
8-K Event Classification
Item 7.01 — Regulation FD Disclosure
1 item
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Key Figures
Q3 net sales: $463 million
Net sales growth: 8.5%
Comparable-store sales growth: 4.2%
+5 more
8 metrics
Q3 net sales
$463 million
Q3 2026
Net sales growth
8.5%
Q3 2026
Comparable-store sales growth
4.2%
Q3 2026
Debt repaid
$52 million
Q3 2026
Adjusted net income guidance
$76 million to $83 million
FY2026
Adjusted net income per diluted share guidance
$0.48 to $0.52 per diluted share
FY2026
Adjusted EBITDA guidance
$270 million to $275 million
FY2026
Net leverage ratio target
Under 2x
By the end of 2027
Key Terms
Adjusted EBITDA margin, constant-currency net sales, comparable store sales, net leverage ratio
4 terms
Adjusted EBITDA margin financial
"expand Adjusted EBITDA margin by 50 to 100 basis points annually"
Adjusted EBITDA margin shows how much profit a company makes from its core operations, expressed as a percentage of its total revenue, after removing certain one-time or unusual expenses and income. It helps investors understand the company's true earning ability from regular business activities, making it easier to compare performance over time or with other companies. Think of it as measuring the efficiency of a business in turning sales into profits, excluding irregular adjustments.
constant-currency net sales financial
"Constant-currency net sales increased 8.9%"
comparable store sales financial
"Comparable store sales increased 4.2%"
Comparable store sales measure the change in revenue generated by stores that have been open for a certain period, typically at least one year. It helps assess how well a business is growing by showing whether existing stores are attracting more customers and sales, rather than just counting new store openings. Investors use this figure to gauge the true health and performance of a company's core operations over time.
net leverage ratio financial
"net leverage ratio, under 2x by the end of 2027"
The net leverage ratio measures how much debt a company has compared to its available assets or earnings, after accounting for its cash and liquid assets. It helps investors understand how heavily a company relies on borrowed money to finance its operations and growth. A higher ratio indicates greater financial risk, while a lower ratio suggests a more cautious approach to borrowing.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did SVV net sales grow in Q3 2026?
SVV's net sales increased 8.5% to $463 million in Q3 2026. The presentation also lists constant-currency net sales growth of 8.9%.
What is SVV's FY2026 earnings outlook?
The presentation gives adjusted net income guidance of $76 million to $83 million, or $0.48 to $0.52 per diluted share, and adjusted EBITDA guidance of $270 million to $275 million.
How many stores use SVV's ThriftIQ platform?
ThriftIQ was live in 108 stores and had priced over 40 million items; its proprietary dataset contains 45,000 brands.
What is SVV's net leverage target?
SVV's presentation targets a net leverage ratio under 2x by the end of 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 10, 2026
___________________________________
(Exact name of Registrant as specified in its charter)
___________________________________
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||
(Address of principal executive offices, including zip code) | ||||||||
( | ||||||||
(Registrant's telephone number, including area code) | ||||||||
| N/A | ||||||||
| (Former Name or Former Address, if Changed Since Last Report) | ||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act: | ||||||||
Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 - Regulation FD Disclosure.
On November 10, 2026, representatives of Savers Value Village, Inc. (the “Company”) hosted an Innovation Day and presented to analysts and investors. A copy of the press release is furnished as Exhibit 99.1, and a copy of the slide presentation is furnished as Exhibit 99.2, to this Current Report on Form 8-K and are incorporated by reference herein.
The information presented herein shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly stated by specific reference in such a filing.
| Exhibit No. | Description | |||||||
| 99.1 | Press release, dated November 10, 2026 | |||||||
| 99.2 | Investor Presentation, dated November 10, 2026 | |||||||
104 | Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SAVERS VALUE VILLAGE, INC. | |||||||||||
| Date: | November 10, 2026 | By: | /s/ Michael W. Maher | ||||||||
| Name: | Michael W. Maher | ||||||||||
| Title: | Chief Financial Officer and Treasurer | ||||||||||
Savers Value Village, Inc. Hosts Innovation Day
Powering Revenue Growth and Margin Expansion
BELLEVUE, Wash.—November 10, 2026, Savers Value Village, Inc. (NYSE: SVV) (the “Company”) today hosted an Innovation Day providing a firsthand look at how the Company’s operational capabilities and technology initiatives are expected to support long-term revenue growth and Adjusted EBITDA margin1 expansion.
The event featured tours of the Company’s Minneapolis Centralized Processing Center (CPC) and Columbia Heights store. Demonstrations included ThriftIQ™, which is designed to optimize and create more consistent pricing, as well as the Autotagger and integrated Image Capture technologies, which are intended to increase processing automation and enhance labor efficiency. Together, these initiatives are key components of the Company’s current three-year roadmap to expand Adjusted EBITDA margin1 by 50 to 100 basis points annually.
“Our operations are a clear competitive advantage and a key enabler of our business model and long-term success,” said Mark Walsh, Chief Executive Officer. “Our innovation agenda focuses on strengthening the price-value equation for consumers, driving greater efficiency and cost savings, and expanding our business insights capabilities. The initiatives we showcased today are designed to enable us to process more volume efficiently and deepen our business insights, which we believe will support revenue growth and Adjusted EBITDA margin1 expansion over the next three years.”
Innovation
The Company’s proprietary pricing platform, ThriftIQTM, is currently live in 108 stores and has now priced over 40 million items. Stores using ThriftIQ continue to demonstrate faster gross profit growth, with higher unit sell-through, larger baskets and stronger sales yields. The Company is also advancing its innovation agenda with the introduction of Autotagger and image capture, patent-pending industrial engineering solutions designed to enhance labor efficiency driving expected savings of over $10 million on an annualized basis upon the completion of rollout. Both innovation initiatives are expected to continue being deployed across the Company’s U.S. and Canadian locations through early 2028.
Multiple drivers support meaningful expected earnings power:
High-single digit total revenue growth:
-Approximately 25 new store openings annually contributing incremental revenue growth
-Low-single digit comparable store sales growth
-Contribution from the maturation of new stores as they enter the comparable store sales base
Expecting high-teens Adjusted EBITDA margin1 in the next three years:
-Operating leverage from comparable store sales growth
-Productivity gains from innovation initiatives, including ThriftIQ, Autotagger and integrated Image Capture technologies
-Continued maturation of newer stores
Balanced capital allocation driving shareholder value:
-Investments in the business
-Improving net leverage ratio1, under 2x by the end of 2027
-Opportunistic share repurchases
1 Adjusted EBITDA margin and net leverage ratio are not measures recognized under U.S. generally accepted accounting principles (“GAAP”). 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.
About the Savers® Value Village® family of thrift stores
As the largest for-profit thrift operator in the United States 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 the Company 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 the Company 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.
Contacts
Investor
Ed Yruma
Savers
investors@savers.com
Media
Edelman Smithfield | 713.299.4115 | Savers@edelman.com
Savers | 206.228.2261 | sgaugl@savers.com
Innovation Day November 2026
2 Forward-Looking Statements This presentation 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 the Company in this presentation 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 the Company 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. Industry Information Unless otherwise indicated, information contained in this document and any accompanying oral presentation concerning our industry, competitive position and the markets in which we operate is based on publicly available information and information from independent industry and research organizations, other third-party sources and management observations and good faith estimates based upon such information, our internal research, and our experience in, and knowledge of, such industry and markets, which we believe to be reasonable. Although we believe that these sources are reliable, we cannot guarantee the accuracy or completeness of this information, and we have not independently verified this information. No representations or warranties are made by the Company or any of its affiliates as to the accuracy of any such statements or projections. Projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. Non-GAAP Financial Measures This document and any accompanying oral presentation contain financial measures that are not calculated pursuant to U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures used by the Company may differ from non-GAAP financial measures used by other companies. Disclaimer
3 Innovation Is Core to Savers DNA Price-value equation Efficiency/cost reduction Data science & business insights We see three key areas of opportunity for innovation to drive long-term value creation
4 What You Saw Today STORE TOUR Compelling assortment and value (40-70% below new), delivered in an easy to shop, "treasure hunt" environment • Innovation: Self-checkout, BrainBox AI HVAC, automated floor scrubbers • CDC: “Fast, Friendly, Convenient”, OSD/GreenDrop® now 82% of total pounds processed as of Q3 2026, up 170 bps y/y • Environment: Light, bright, and modern thrift shopping experience CPC TOUR Semi-automated facility that supplies 10 stores and contributes to 100M pounds processed annually by CPC network • ThriftIQTM: Machine learning • Autotagger and Image Capture: Reduction in labor hours • Automated Book Processing: Data-informed pricing, highly automated • Operational Efficiencies: Process optimization
5 Note: Matrix grades for illustrative purposes. Example: Women’s Denim A+ B C+ Key Limitations We are bringing 3 technologies together in 1 solution to solve the limitations of the legacy process Subjectivity • Team members may grade comparable items differently Inconsistency • Customers may encounter unexplained price variation across similar merchandise Training Complexity • Team members need training, time, and experience to make category, condition and quality judgements Labor Intensive • The legacy process is highly manual and labor intensive, with team member outputs capped even at full grading efficiency Grading Matrix Q ua lit y Above Average A- A A+ Average B- B B+ Below Average C- C C+ Below Average Average Above Average Condition Lowest relative price point Highest relative price point Team Member Assesses Condition Assesses Item Quality Assigns Grade Using 3x3 Matrix Applies Price from Corporate Grid Manually Tags the Item The Legacy Grading Process Creates Subjectivity Across Millions of Pricing Decisions
6 Operational Benefits Consistent price-value proposition for customers Staffing flexibility Objective and consistent pricing Better understanding of supply composition Inputs 40M items assessed in the program 108 stores currently operating with the platform 45,000 brands in the proprietary dataset Outcome Higher unit sell-through Stronger sales yield Larger average baskets Average prices the same or lower than the rest of the fleet Gross profit dollars grew ~100 bps faster Under the new ThriftIQ model, Savers’ pricing decisions deliver more consistent price value to customers across the store base ThriftIQ Is Delivering Better Outcomes for Our Customers and for the Company
7 Patent-Pending Autotagger and Integrated Image Capture Technologies Expected to Drive Meaningful Cost Savings Autotagger and image capture are our next major innovations in the production process CAMERA AUTOTAGGER TOUCH SCREEN Upon full deployment, these technologies are expected to generate ~$10M of savings on an annualized basis through greater labor efficiency by reducing the number of touches required to process each item
8 1. Amounts presented on a constant-currency basis are not measures recognized under U.S. generally accepted accounting principles (“GAAP”). For a reconciliation to the most directly comparable GAAP measure, see Appendix. 2. Total comparable store sales includes Australia retail locations, in addition to U.S. and Canada. 3. Adjusted net income, adjusted net income per diluted share and Adjusted EBITDA are not measures recognized under GAAP. 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. Key Highlights of Q3 2026 Net sales increased 8.5% to $463M Constant-currency net sales1 increased 8.9%, led by 12.2% growth in the U.S. Comparable store sales increased 4.2%2, with U.S. increasing 5.9% and Canada increasing 1.5% Opened 9 new stores during the quarter, including our first new store in Tennessee Strengthened our balance sheet, repaid $52M of debt Updated adjusted net income3 outlook to $76 – $83M, or $0.48 – $0.52 per diluted share for FY26 Updated adjusted EBITDA3 outlook to $270 – $275M Announced the rollout of patent-pending Autotagger and integrated Image Capture capability, designed to drive labor efficiency by reducing the number of touches required to process each item
9 1. Adjusted EBITDA, Adjusted EBITDA margin and net leverage ratio are not measures recognized under U.S. generally accepted accounting principles (“GAAP”). 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. Multiple Drivers Support Meaningful Expected Growth in Earnings Power High-teens Adjusted EBITDA margins1 Double-digit Adjusted EPS1 growth Revenue Growth • ~25 new store openings annually contributing incremental revenue growth • Low-single-digit comps • New stores will begin to provide a tailwind to comps as they enter the comp base Adjusted EBITDA1 Margin Expansion • Operating leverage on comparable store sales growth • Productivity gains from innovation initiatives, including ThriftIQ, Autotagger and integrated Image Capture technologies • Continued maturation of newer stores Capital Allocation • Investing in the business • Improving net leverage ratio1, under 2x by the end of 2027 • Opportunistic share repurchases High-single-digit total revenue growth
10 Note: Adjusted EBITDA margin is a non-GAAP measure. 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. Powering 50-100bps of Expected Annual Margin Expansion Drivers2026E–2029E Adjusted EBITDA Margin Expansion 15.3% 17%+ Comp Leverage Innovation New Stores 2026E 2029E Comp Leverage • Organic leverage on LSD comp • Efficiency initiatives • Cost reduction Innovation • ThriftIQ • Autotagger • Image Capture • Other Innovation Initiatives New Stores • Continued productivity ramp • ~25 openings per year • Meaningful adjusted EBITDA $ contribution as new stores mature; margin rate impact more modest given associated new store sales growth
Appendix
13 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 unaudited table presents a reconciliation of GAAP net sales to constant-currency net sales for the periods presented. In each table, “Other” is attributable to the Australia Retail and Wholesale operating segments which have been combined. Constant Currency Thirteen Weeks Ended % Change Over Prior YearNet Sales Impact of Foreign Currency Constant Currency Net Sales $ Change Over Prior Year ($ in thousands) October 3, 2026 U.S. Retail $263,437 $ - $263,437 $28,725 12.2% Canada Retail 163,653 2,880 166,533 6,925 4.3% Other 35,994 (1,225) 34,769 2,154 6.6% Total Net Sales $463,084 $ 1,655 $464,739 $37,804 8.9% September 27,2025 U.S. Retail $234,712 n/a $234,712 n/a n/a Canada Retail 159,608 n/a 159,608 n/a n/a Other 32,615 n/a 32,615 n/a n/a Total Net Sales $426,935 n/a $426,935 n/a n/a