From 2005 to 2010 Savers was the nation’s fifth-fastest-growing discount retailer, according to the trade journal Chain Store Guide. The collection strategy, employed by Savers at least since 2005, was highlighted in a 2012 Standard & Poor’s corporate rating of Savers projecting that Savers’ gross profit margin would increase, “reflecting an increase in higher margin on-site donations.”Īnd it has paid off. Savers “purchases” this merchandise by donating money to charities in the donors’ name, but at a price far less per pound than merchandise brought in by the charities themselves. The chain increasingly competes with longstanding nonprofit thrift stores that devote most of their revenue to those in need.Īnd Savers, after decades of relying heavily on its partner charities to gather goods for sale at its stores, has embraced a new strategy: asking donors to drop off merchandise directly instead of donating to charities that then bring the goods to Savers. The company now reports running more than 330 stores in 30 states, Canada and Australia, and employing 22,000 workers. From 2009 to 2014, Savers grew at a rate of about 5 percent each year and opened or acquired up to 20 stores a year, according to industry-research firm IBISWorld. Savers refused to be interviewed or provide answers in response to written questions for this story. That may mislead donors to overestimate their good deed, and according to tax experts and charity-watchers, take a tax deduction that is far too high. Meanwhile, Savers does not routinely tell donors how much of their used-goods donation actually goes to charity. Overall, it appears that between 8 percent and 17 percent of the firm’s revenue ends up with charities. Sometimes Savers’ charity partners have received less than 5 percent of sales revenue on goods donated on their behalf, InvestigateWest found. Behind others there appears to be none, InvestigateWest found.
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Behind many a great deal at Value Village is a pretty meager good deed. Board Chairman Tom Ellison, for example, owns a waterfront mansion in the same exclusive Seattle suburb where Bill Gates lives.īut Savers’ claims about doing good for charities appear to be vastly overblown.
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Thrift has proved lucrative for the firms’ executives. For years it has been the single largest player in the prosperous and growing industry of for-profit thrift stores. Ubiquitous promotion of charitable activity is a big reason why Value Village’s corporate parent, Savers, Inc., does more than $1.2 billion in business annually. The black T-shirts worn by cashiers carried a matching message for bargain hunters with a heart of gold: “Good deeds. “Every used item in this store was PURCHASED from our non-profit partners.”Įmblazoned on the wall behind cash registers at a Value Village thrift store in Bellingham, Wash., the meaning of the feel-good message in bold lettering couldn’t be missed by shoppers at the store’s grand opening in 2011: The purchase of slightly used pants, a vintage jacket and other thrift-store treasures is an act of charity. Monday-Saturday and until 5 p.m.A thrift store.
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Tysons Reporter spotted several skirts and books for under $5 during a recent visit. every day except on Sundays, when it is open from 10 a.m. The thrift store is located at a warehouse at 2956 Gallows Road. Near Mosaic District, shoppers can find a wide selection of second-hand clothing for men, women and kids, household items, books and more at Unique. Want to shop sustainably this year? The Tysons area has several consignment stores to check out.