Savers Value Village, Inc, owner of for-profit thrift stores across the United States and Canada, is set to have its initial public offering today, Thursday, June 29. Here’s what you need to know about the thrift store chain and its IPO:
- What is Savers Value Village, Inc? It’s the official name of the company that runs a chain of thrift stores in the United States, Canada, and Australia. Despite having its IPO in 2023, the company itself is quite old—nearly 70 years. It was founded in 1954 when it opened its first thrift store in an old San Fransisco movie theater. Unlike many independent thrift stores, Savers Value Village is for-profit.
- How many Savers Value Village locations are there? Savers Value Village has more than 300 locations across North America and Australia. But a Savers Value Village store has different names for different geographic locations. Savers Value Village stores are simply called “Savers” in Australia and parts of the United States. In other parts of the United States and Canada, the stores are called Value Village. The company also has stores in Quebec that are called Village des Valeurs.
- What is Savers Value Village’s stock symbol? According to a press release, it will trade under the stock ticker SVV.
- What is the SVV IPO price? Savers Value Village is set to IPO at $18 per share. As Bloomberg reports, this was above its price target of $15 to $17. There will be 22,291,666 shares of common stock available at this price.
- What exchange will it trade on? SVV shares will trade on the New York Stock Exchange.
- How will Savers Value Village use the money it raises in its IPO? The company says it will use proceeds from the IPO “to repay indebtedness.”
- Anything else to know? Though Savers Value Village, Inc is a company that runs for-profit thrift stores, it buys much of its merchandise from local nonprofits that have had merchandise donated to them. In this way, the company’s funds do help local nonprofits, which cycle that money back into the community.
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