Why is Savers controversial? | The Business | ABC NEWS

By ABC News (Australia)

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Savers Australia is the subsidiary of US company Savers Value Village (SVV). The global retailer is worth $2.2 billion and has shares that trade on the New York Stock Exchange. SVV is also North America's largest for-profit second-hand retailer with 185 stores in the US and 172 in Canada. Its 50 per cent gross profit margin is well above the industry average and the company earned more than $300 million last year, according to Refinitiv data. In Australia, Savers has 19 stores. It competes directly with non-profit, second-hand retailers Vinnies and Salvos, and smaller charity op shops that rely on selling donated goods to fund community programs. Some of them are not happy about the expansion of Savers, concerned that its charity donation bins could potentially give it a veneer or "smoke screen" of being charitable. But the American head office of Savers told ABC News it gave its Australian non-profit partners $5.6 million last year. Local boss Michael Fisher said "we partner wit

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