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Investing.com -- Savers Value Village , Inc. (NYSE:SVV) shares surged 5.7% after the thrift retailer raised its full-year revenue guidance despite reporting second-quarter earnings that missed analyst expectations.
The company reported second-quarter earnings per share of $0.12, falling short of analyst estimates of $0.24. However, revenue rose 7.9% to $417.2 million compared to the same period last year, with comparable store sales increasing 4.6%. U.S. sales were particularly strong, rising 10.5% with comparable store sales up 6.2%, while Canadian sales increased 3.4%.
Savers Value Village raised its fiscal 2025 revenue outlook to between $1.67 billion and $1.69 billion, above the analyst consensus of $1.637 billion. The company also significantly increased its comparable store sales growth forecast to 3.0% to 4.5%, up from its previous guidance of 0.5% to 2.5%.
"We are proud of our second quarter results. Our strong U.S. comparable store sales and continued improvement in Canada demonstrate that our sharp value and compelling assortment are winning with consumers," said Mark Walsh, Chief Executive Officer of Savers Value Village.
The company opened four new stores during the quarter, ending with 354 locations. Adjusted EBITDA was $68.8 million with a margin of 16.5%, though foreign currency exchange rates negatively impacted this figure by $0.4 million.
During the quarter, Savers Value Village repurchased approximately 0.4 million shares at an average price of $8.17 per share. The company also purchased 2.3 million shares at $8.86 per share as part of a secondary offering by certain shareholders, including funds managed by Ares Management (NYSE:ARES) Corporation.
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