CIBC Capital Markets initiated coverage of Value Village with an outperform rating and US$27 per share price target.
“Gen Z and Millennial cohorts are accounting for more and more retail spend, and over 60% of secondhand industry growth is expected to come from these groups. Ultimately, we believe secondhand will continue to broaden its customer base and gain share of wallet.” Value Village executives aim to ramp up its expansion by opening 20 or more new stores each year starting in 2024.