Shares of the thrift store operator climbed by more than 27 per cent, closing at nearly $23 a share
Consumers feeling the pinch of inflation and nervous about a potential recession are turning to second-hand shopping to save money. They are also more aware than ever of the environmental impact of the billions of pounds of textiles that end up in landfills every year.the largest for-profit thrift store operator in the United States and Canada, made to investors ahead of its initial public offering on Thursday.
A big slice of its business comes from Canada, which accounts for 41 per cent of the company’s revenue and 45 per cent of its profits. It helps that Canadian consumers are famously price-conscious. That growth was particularly pronounced in Canada, compared with 2021 when there were still sporadic store closings because of COVID-19. But the overall trend is relatively steady: Aside from a sizable plunge in 2020, comparable sales have grown every year in both the U.S. and Canada since 2007, according to the company’s prospectus filed ahead of the IPO.
Many people who have shopped or dropped off donations at a Value Village location likely think of it as a non-profit enterprise – a natural assumption, since its biggest competitors Goodwill and the Salvation Army, are both non-profits with thousands of locations. The company, however,Stress Test: Save money and the planet: How thrifting can help combat inflation
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