Savers Value Village's stock rose 3.2% Monday, after analysts initiated coverage of the stock that hit public markets in June with a slew of buy ratings.
Savers Value Village’s stock rose 3.2% Monday, after analysts initiated coverage of the stock that hit public markets in June with a slew of buy ratings.
The company is the biggest for-profit thrift-store chain in North America, with 317 stores that operate under multiple names. The forecast for the U.S. secondhand market represents compound annual growth rates between now and 2026 of more than 18%, the analysts wrote. That’s well ahead of expected growth for apparel and footwear with more than one in three U.S. shoppers and nearly half of Canadian shoppers surveyed recently reporting that they care more about the environmental impact of their clothing choices today than they did three years ago.
Revenue for the quarter came to $327.5 million, down from $345.7 million in the year-ago period. Revenue totaled $1.4 billion for 2022, up from $1.2 billion in 2021.
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