SEC Comment Letter 0000000000-23-006692 to Savers Value Village, Inc. (SVV)
Savers Value Village, Inc.
Date: June 22, 2023 · CIK: 0001883313 · Accession: 0000000000-23-006692
AI Filing Summary & Sentiment
File numbers found in text: 333-261850
Letter
United States securities and exchange commission logo June 22, 2023 Mark Walsh Chief Executive Officer Savers Value Village, Inc. 11400 S.E. 6th Street, Suite 125 Bellevue, WA 98004 Re:Savers Value Village, Inc. Amendment No. 9 to Registration Statement on Form S-1 Filed June 20, 2023 File No. 333-261850 Dear Mark Walsh: We have reviewed your amended registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our June 1, 2023 letter. Amendment No. 9 to Registration Statement on Form S-1 Prospectus Summary Recent Developments Preliminary Estimated Unaudited Financial Results, page 18 1.Please include qualitative and quantitative disclosure by providing estimates for financial statement line items such as operating expenses and material other expenses that give investors a sense of how your total operating costs were impacted for the same periods presented here, with a view to understanding whether there were any material trends that differed from your historical results to put amounts provided into context. Regarding the impact of cost of merchandise sold on net income disclosed here, discuss the reason for the increase and how the increase in cost of merchandise sold, as well as the related
FirstName LastNameMark Walsh Comapany NameSavers Value Village, Inc. June 22, 2023 Page 2 FirstName LastName Mark Walsh Savers Value Village, Inc. June 22, 2023 Page 2 impact on the following key metrics you disclose elsewhere of cost of merchandise sold as a percentage of net sales and cost of merchandise sold per pound processed, for the periods presented compares to that for your recent interim and annual historical periods and any associated known material trends. Recent Developments, page 18 2.We note your disclosure that your final results “may differ materially” from the estimates you are presenting. If you choose to disclose preliminary results, you should be able to assert that the actual results are not expected to differ materially from that reflected in the preliminary results. Accordingly, please remove this statement, as it implies that investors should not rely on the information presented. You may contact Tatanisha Meadows at 202-551-3322 or Doug Jones at 202-551-3309 if you have questions regarding comments on the financial statements and related matters. Please contact Jennie Beysolow at 202-551-8108 or Jennifer López Molina at 202-551-3792 with any other questions. Sincerely, Division of Corporation Finance Office of Trade & Services cc: Christodoulos Kaoutzanis
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United States securities and exchange commission logo
June 22, 2023
Mark Walsh
Chief Executive Officer
Savers Value Village, Inc.
11400 S.E. 6th Street, Suite 125
Bellevue, WA 98004
Re:Savers Value Village, Inc.
Amendment No. 9 to Registration Statement on Form S-1
Filed June 20, 2023
File No. 333-261850
Dear Mark Walsh:
We have reviewed your amended registration statement and have the following
comments. In some of our comments, we may ask you to provide us with information so we
may better understand your disclosure.
Please respond to this letter by amending your registration statement and providing the
requested information. If you do not believe our comments apply to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why in your
response.
After reviewing any amendment to your registration statement and the information you
provide in response to these comments, we may have additional comments. Unless we note
otherwise, our references to prior comments are to comments in our June 1, 2023 letter.
Amendment No. 9 to Registration Statement on Form S-1
Prospectus Summary
Recent Developments
Preliminary Estimated Unaudited Financial Results, page 18
1.Please include qualitative and quantitative disclosure by providing estimates for financial
statement line items such as operating expenses and material other expenses that give
investors a sense of how your total operating costs were impacted for the same periods
presented here, with a view to understanding whether there were any material trends that
differed from your historical results to put amounts provided into context. Regarding the
impact of cost of merchandise sold on net income disclosed here, discuss the reason for
the increase and how the increase in cost of merchandise sold, as well as the related
FirstName LastNameMark Walsh
Comapany NameSavers Value Village, Inc.
June 22, 2023 Page 2
FirstName LastName
Mark Walsh
Savers Value Village, Inc.
June 22, 2023
Page 2
impact on the following key metrics you disclose elsewhere of cost of merchandise sold as
a percentage of net sales and cost of merchandise sold per pound processed, for the
periods presented compares to that for your recent interim and annual historical periods
and any associated known material trends.
Recent Developments, page 18
2.We note your disclosure that your final results “may differ materially” from the estimates
you are presenting. If you choose to disclose preliminary results, you should be able to
assert that the actual results are not expected to differ materially from that reflected in the
preliminary results. Accordingly, please remove this statement, as it implies that investors
should not rely on the information presented.
You may contact Tatanisha Meadows at 202-551-3322 or Doug Jones at 202-551-3309 if
you have questions regarding comments on the financial statements and related matters. Please
contact Jennie Beysolow at 202-551-8108 or Jennifer López Molina at 202-551-3792 with any
other questions.
Sincerely,
Division of Corporation Finance
Office of Trade & Services
cc: Christodoulos Kaoutzanis