Board Change • Jun 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director John Hartmann was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director John Hartmann was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • May 15
Leslie's, Inc. Reiterates Earnings Guidance for the Full Year 2026 Leslie's, Inc. reiterated earnings guidance for the full year 2026. For the period, the company expects sales of $1,100 million to $1,250 million. Annonce • May 02
Leslie's, Inc. to Report Q2, 2026 Results on May 13, 2026 Leslie's, Inc. announced that they will report Q2, 2026 results After-Market on May 13, 2026 Annonce • Feb 18
Leslie's, Inc. Reiterates Earnings Guidance for the Full Year Fiscal 2026 Leslie's, Inc. reiterated earnings guidance for the full year fiscal 2026. For the period, the company expects sales of $1,100 million to $1,250 million. Annonce • Feb 04
Leslie's, Inc. to Report Q1, 2026 Results on Feb 17, 2026 Leslie's, Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Feb 17, 2026 Annonce • Jan 22
Leslie's, Inc., Annual General Meeting, Mar 24, 2026 Leslie's, Inc., Annual General Meeting, Mar 24, 2026. Annonce • Jan 08
Leslie's, Inc. Appoints John Hartmann as Independent Director to Its Board of Directors, Effective January 7, 2026 Leslie's, Inc. announced that it has appointed John Hartmann as an independent director to its Board of Directors, effective January 7, 2026. Mr. Hartmann brings nearly 25 years of retail leadership experience where he has executed successful turnaround as a C-suite executive of both public and private companies across diverse industries, including home improvement and home furnishings. He has joined the Board as a Class III Director and will stand for election at the Company’s 2026 Annual Meeting of the Shareholders. With the addition of Mr. Hartmann, the Board will expand from eight to nine members. Mr. Hartmann most recently served as CEO of Ascend Wellness Holdings, and, prior to Ascend, as COO of Bed Bath & Beyond and President of buybuy Baby. Previously, he served as CEO of True Value and spent seven years at Home Depot and its subsidiary HD Supply, culminating in his role as Chief Operating Officer, HD Supply Electrical and Plumbing/HVAC. Prior to that, he spent several years internationally as CEO of New Zealand’s market leading home improvement retailer, Mitre 10. Mr. Hartmann currently serves on the board of Boyd Group Services including as a member of the Audit and People Culture & Compensation Committees and has previously served on the boards of Franchise Resource Group (which owned The Vitamin Shoppe, Pet Supplies Plus and Buddy’s Home Furnishings), Ascend Wellness Holdings, HD Supply, and AmeriGas prior to its acquisition by UGI. Annonce • Nov 19
Leslie's, Inc. to Report Q4, 2025 Results on Dec 02, 2025 Leslie's, Inc. announced that they will report Q4, 2025 results After-Market on Dec 02, 2025 Annonce • Jul 29
Leslie's, Inc. Withdraws Fiscal Year 2025 Guidance Leslie's, Inc. announced that it is withdrawing its previously provided fiscal year 2025 guidance with plans to provide an update for the balance of year expectations when it reports its fiscal third quarter 2025 results on August 6, 2025. Annonce • Jul 18
Leslie's, Inc. to Report Q3, 2025 Results on Aug 06, 2025 Leslie's, Inc. announced that they will report Q3, 2025 results After-Market on Aug 06, 2025 Annonce • Jul 16
Leslie’s, Inc. Announces Executive Changes Leslie’s, Inc. announced appointment of Amy College as the company’s new Chief Merchandising and Supply Chain Officer, effective July 20, 2025. In addition to merchandising, inventory, supply chain, logistics and manufacturing, Ms. College will be responsible for the company’s digital marketplace business. In conjunction with Ms. College’s appointment, Moyo LaBode, the company’s outgoing Chief Merchandising and Supply Chain Officer has left Leslie’s, effective July 15, 2025. Ms. College has more than 25 years of retail operations leadership experience including merchandising, supply chain and store operations. Ms. College spent nearly five years at Petco and most recently served as Chief Merchandising and Supply Chain Officer where she was responsible for category merchandising, enterprise demand planning, visual merchandising, owned brand product development and sourcing as well as distribution operations. Previously, Ms. College served as Senior Vice President, Operations, Strategy and Territory General Manager for Petco stores. Prior to joining Petco, Ms. College spent more than 20 years at Best Buy. During her tenure, Ms. College served in merchandising and category management leadership roles, including Chief Category Officer for the company’s home theater, smart home, digital imaging and appliances. She holds a bachelor’s degree in business from the University of Minnesota’s Carlson School of Management. Annonce • May 09
Leslie's, Inc. Reiterates Earnings Guidance for the Full Year Fiscal 2025 Leslie's, Inc. reiterated earnings guidance for the full year fiscal 2025. For the year, the company expected sales to be $1,304 million to $1,370 million, Gross profit to be $473 million to $505 million and Net (loss) income to be $(10) million to $5 million. Annonce • Feb 07
Leslie's, Inc. Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2025 Leslie's, Inc. provided earnings guidance for the second quarter and full year of fiscal 2025. For the quarter, the company expects sales to be $179 million to $189 million and net loss to be $47 million to $44 million.
For the full year, the company expects sales to be $1,304 million to $1,370 million and net loss to be $10 million to income of $5 million. Annonce • Jan 27
Leslie's, Inc. to Report Q1, 2025 Results on Feb 06, 2025 Leslie's, Inc. announced that they will report Q1, 2025 results After-Market on Feb 06, 2025 Annonce • Jan 09
Leslie's, Inc., Annual General Meeting, Mar 12, 2025 Leslie's, Inc., Annual General Meeting, Mar 12, 2025. Annonce • Nov 26
Leslie's, Inc. Provides Earnings Guidance for the First Quarter of Fiscal 2025 Leslie's, Inc. provided earnings guidance for the first quarter of fiscal 2025. For the quarter, the company expects sales to be $169 million to $176 million and net loss to be $41 million to $39 million. Annonce • Nov 14
Leslie's, Inc. to Report Q4, 2024 Results on Nov 25, 2024 Leslie's, Inc. announced that they will report Q4, 2024 results After-Market on Nov 25, 2024 Board Change • Oct 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Director Jason McDonell was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 30
Interim CEO & Chairman recently bought €274k worth of stock On the 29th of August, John Strain bought around 120k shares on-market at roughly €2.28 per share. This transaction increased John's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months. Annonce • Aug 28
Leslie’s, Inc. Announces CEO Transition Leslie’s, Inc. announced the appointment of Jason McDonell as Chief Executive Officer, effective September 9, 2024. Mr. McDonell will also join Leslie’s Board of Directors at that time. John Strain, Leslie’s Chairman of the Board, has been appointed Interim Chief Executive Officer, and will lead the Company until Mr. McDonell assumes the role of Chief Executive Officer. Michael Egeck, age 65, has departed the Company and resigned from his Board seat. Mr. McDonell is a senior executive with nearly 30 years of experience in retail and consumer products. He most recently served as Executive Vice President, Merchandising, Marketing, and e-Commerce at Advance Auto Parts, where he was responsible for driving omnichannel growth across the Company’s $11 billion family of brands, managing more than 200 global suppliers and products and a global team of professionals. He previously spent 21 years with PepsiCo in positions of increasing responsibility, culminating with his role as Canada President and General Manager for PepsiCo Food, a $2.5 billion business, where he was responsible for the Canadian Frito-Lay and Quaker businesses. Mr. McDonell began his career in brand management at Procter & Gamble. He earned his bachelor’s degree in Business Administration from Wilfrid Laurier University in Canada and has completed a number of Executive Leadership Programs at Harvard Business School. Annonce • Aug 27
Leslie's, Inc. Announces Board Changes Leslie’s, Inc. announced the appointment of Jason McDonell as Chief Executive Officer, effective September 9, 2024. Mr. McDonell will also join Leslie’s Board of Directors at that time. Michael Egeck, age 65, has departed the Company and resigned from his Board seat. Mr. McDonell is a senior executive with nearly 30 years of experience in retail and consumer products. He most recently served as Executive Vice President, Merchandising, Marketing, and e-Commerce at Advance Auto Parts, where he was responsible for driving omnichannel growth across the Company’s $11 billion family of brands, managing more than 200 global suppliers and products and a global team of professionals. He previously spent 21 years with PepsiCo in positions of increasing responsibility, culminating with his role as Canada President and General Manager for PepsiCo Food, a $2.5 billion business, where he was responsible for the Canadian Frito-Lay and Quaker businesses. Mr. McDonell began his career in brand management at Procter & Gamble. He earned his bachelor’s degree in Business Administration from Wilfrid Laurier University in Canada and has completed a number of Executive Leadership Programs at Harvard Business School. Reported Earnings • Aug 08
Third quarter 2024 earnings released: EPS: US$0.33 (vs US$0.39 in 3Q 2023) Third quarter 2024 results: EPS: US$0.33 (down from US$0.39 in 3Q 2023). Revenue: US$569.6m (down 6.8% from 3Q 2023). Net income: US$60.7m (down 16% from 3Q 2023). Profit margin: 11% (down from 12% in 3Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings. Annonce • Aug 08
Leslie's, Inc. Reaffirms Earnings Guidance for the Full Year of Fiscal 2024 Leslie's, Inc. reaffirmed earnings guidance for the full year of fiscal 2024. For the year, the company expects sales to be in the range of $1,321 million to $1,347 million and net income to be in the range of negative $5 million to positive $6 million. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to €2.54, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 6x in the Specialty Retail industry in Germany. Total loss to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €2.96, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total loss to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.29 per share. Annonce • Jun 21
Leslie's, Inc. Appoints Lorna Nagler to Board of Directors Leslie's, Inc. announced that it has increased the size of the Board of Directors from seven to eight members and elected Lorna Nagler to its Board of Directors, effective June 19, 2024. Ms. Nagler has joined as a Class II Director and has been appointed to the Nominating and Corporate Governance Committee and Compensation Committee of the Board of Directors. Ms. Nagler will contribute nearly 40 years of retail expertise, including first-hand experience leading a wide variety of retail companies. Ms. Nagler has been a member of the board of directors of Ulta Beauty, Inc. since 2009, and has served as the chair of the board of directors since June 2022. Ms. Nagler has served as a member of the board of directors of Hibbett Sports since June 2019 and is the chair of its compensation committee. In July 2020, she was appointed to the Wisconsin Foundation and Alumni Association Board as a member of their audit committee. She has also held numerous leadership positions within the retail industry, including at Bealls Department Stores, Christopher & Banks Corporation, Lane Bryant, Catherines Stores, and Kmart Corporation. Annonce • May 16
Leslie's, Inc. Announces Board and Committee Changes On May 15, 2024, the Board of Directors (the “Board”) of Leslie’s, Inc. (the “Company”) elected Maile (Clark) Naylor to the Board, effective May 15, 2024. The Board also appointed Ms. Naylor to the Audit Committee and Compensation Committee of the Board. Ms. Naylor was designated as a Class I director and will stand for re-election at the Company’s 2025 Annual Meeting of Shareholders. Ms. Naylor has spent 25 years working in the investment management industry analyzing and evaluating global consumer discretionary companies. She previously worked as an investment officer at MFS Investment Management, a global asset management company, from September 2005 until her retirement from the investment management industry in April 2018. Prior to that, Ms. Naylor also held positions at Scudder Kemper Investments and Wellington Management, each investment management firms. She holds a bachelor's degree in finance from Boston University and is a CFA charter holder. Ms. Naylor currently serves on the board of BJ’s Wholesale Club Holdings, Inc. and Laird Superfood, Inc. and is a member of the board of advisors of the Boston Ballet. Ms. Naylor also served as a member of the President’s Council of the Boston Children’s Museum from October 2019 to October 2022. Additionally, on May 11, 2024, Eric Kufel, notified the Company of his resignation as a director of the Company, effective as of May 15, 2024. Mr. Kufel’s resignation follows his recent appointment as Chairman and Chief Executive Officer of JustFoodForDogs in February 2024. Mr. Kufel advised the Company that his decision to resign is not due to any disagreement with the Company on any matter relating to its operations, policies or practices. Annonce • May 10
Leslie’s, Inc. Reaffirms Earnings Outlook for the Full Year of Fiscal 2024 Leslie’s, Inc. reaffirmed earnings outlook for the full year of fiscal 2024. For the year, the company expects sales to be in the range of $1,410 million to $1,470 million. Net income to be in the range of $32 million to $46 million. Reported Earnings • May 09
Second quarter 2024 earnings released: US$0.19 loss per share (vs US$0.17 loss in 2Q 2023) Second quarter 2024 results: US$0.19 loss per share (further deteriorated from US$0.17 loss in 2Q 2023). Revenue: US$188.7m (down 11% from 2Q 2023). Net loss: US$34.6m (loss widened 9.6% from 2Q 2023). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €4.30, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 3x in the Specialty Retail industry in Germany. Total loss to shareholders of 81% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.09 per share. Annonce • Apr 26
Leslie's, Inc. to Report Q2, 2024 Results on May 08, 2024 Leslie's, Inc. announced that they will report Q2, 2024 results After-Market on May 08, 2024 Annonce • Apr 10
Leslie's, Inc. Appoints Benjamin Lindquist Senior Vice President, General Counsel & Corporate Secretary Leslie’s, Inc. announced the appointment of Benjamin Lindquist as Senior Vice President, General Counsel & Corporate Secretary, effective April 16, 2024. He succeeds Brad Gazaway, who is stepping down from his position as Chief Legal, Real Estate & Sustainability Officer & Corporate Secretary of Leslie’s, effective April 16, 2024, for personal reasons. Mr. Gazaway will remain employed by the Company as a Special Advisor to the CEO through December 31, 2024 to facilitate a smooth transition. Mr. Lindquist has been an integral member of Leslie’s legal department since joining the Company in 2013. He has served in various roles of increasing responsibility at Leslie’s, including most recently as Vice President & Associate General Counsel. Mr. Lindquist holds a JD from the University of San Diego School of Law and a B.S. in Finance and Information Systems from the University of Utah. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €5.20, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 2x in the Specialty Retail industry in Germany. Total loss to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.32 per share. Buy Or Sell Opportunity • Mar 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 64% to €7.20. The fair value is estimated to be €5.99, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has declined by 17%. Revenue is forecast to grow by 7.5% in 2 years. Earnings are forecast to grow by 276% in the next 2 years. Buy Or Sell Opportunity • Feb 17
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 49% to €7.25. The fair value is estimated to be €6.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has declined by 17%. Revenue is forecast to grow by 7.5% in 2 years. Earnings are forecast to grow by 276% in the next 2 years. Annonce • Feb 03
Leslie's, Inc. Provides Earnings Guidance for the Fiscal Year 2024 Leslie's, Inc. provided earnings guidance for the fiscal year 2024. For the year, the company expects sales to be between $1.41 billion to $1.47 billion. Reported Earnings • Feb 02
First quarter 2024 earnings released: US$0.21 loss per share (vs US$0.17 loss in 1Q 2023) First quarter 2024 results: US$0.21 loss per share (further deteriorated from US$0.17 loss in 1Q 2023). Revenue: US$174.0m (down 11% from 1Q 2023). Net loss: US$39.6m (loss widened 31% from 1Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Annonce • Jan 25
Leslie's, Inc., Annual General Meeting, Mar 15, 2024 Leslie's, Inc., Annual General Meeting, Mar 15, 2024, at 12:00 US Eastern Standard Time. Agenda: To consider and approve election of three Class III directors, to consider ratification of appointment of Ernst & Young LLP as the Company's independent registered public accounting firm; to consider non-binding advisory vote to approve named executive officer compensation, and to consider approval of the Leslie's Inc, Amended and Restated 2020 Omnibus Incentive. Annonce • Jan 19
Leslie's, Inc. to Report Q1, 2024 Results on Feb 01, 2024 Leslie's, Inc. announced that they will report Q1, 2024 results After-Market on Feb 01, 2024 Annonce • Dec 20
Leslie’s, Inc. Announces Changes to its Board of Directors Leslie’s, Inc. announced that Steven L. Ortega, Chairman of the Board of Directors, has decided not to seek reelection at Leslie’s 2024 Annual Meeting of Shareholders in March 2024, marking his retirement from the Board at that time. Mr. Ortega’s retirement follows a tenure with the Company of nearly two decades, during which he played a key role driving Leslie’s growth and building its reputation as one of the largest and most trusted direct-to-consumer brands in the U.S. pool and spa care industry. Mr. Ortega joined Leslie’s in 2005 and served in roles of increasing responsibility, including as Chief Executive Officer and President from 2017 to 2020. He has served as Chairman of the Board since 2020 and has overseen numerous transformational business changes during his career. Leslie’s announced that James Ray, Jr., Lead Independent Director, has also stepped down from Leslie’s Board, effective December 18, 2023. The announcement comes as Mr. Ray re-assesses his board commitments given his recent appointment as Chief Executive Officer of a publicly traded company. In light of these changes, Board member John Strain has been appointed Lead Independent Director effective immediately and named Chairman-elect in advance of the Company’s 2024 Annual Meeting of Shareholders. Mr. Strain joined the Leslie’s Board in August 2018 and has more than 30 years of experience in the retail technology and e-commerce industries. Most recently, Mr. Strain served as the Head of e-Commerce and Technology at Gap, Inc., where he was responsible for technology, product management, data and analytics, and loyalty and payments. As a result of this announcement, the size of Leslie’s Board is reduced from nine to eight directors effective as of December 19, 2023. The size of the Board will be reduced from eight to seven directors effective at the Company’s 2024 Annual Meeting of Shareholders. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €5.75, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 10x in the Specialty Retail industry in Germany. Total loss to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €6.93 per share. Buying Opportunity • Dec 07
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €6.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings is also forecast to grow by 34% per annum over the same time period. New Risk • Nov 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Negative equity (-US$161m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Reported Earnings • Nov 29
Full year 2023 earnings released: EPS: US$0.15 (vs US$0.86 in FY 2022) Full year 2023 results: EPS: US$0.15 (down from US$0.86 in FY 2022). Revenue: US$1.45b (down 7.1% from FY 2022). Net income: US$27.2m (down 83% from FY 2022). Profit margin: 1.9% (down from 10% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Annonce • Nov 29
Leslie's, Inc. Provides Earnings Guidance for the Full Year of Fiscal 2024 Leslie's, Inc. provided earnings guidance for the full year of fiscal 2024. For the year, the company expects sales of $1,410 million to $1,470 million, and net income of $32 million to $46 million. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €5.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Specialty Retail industry in Germany. Total loss to shareholders of 72% over the past three years. Board Change • Nov 15
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Lead Independent Director James Ray was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Nov 15
Leslie's, Inc. to Report Q4, 2023 Results on Nov 28, 2023 Leslie's, Inc. announced that they will report Q4, 2023 results After-Market on Nov 28, 2023 Annonce • Oct 26
The Gross Law Firm Notifies Shareholders of Leslie's, Inc. of A Class Action Lawsuit The Gross Law Firm Notifies Shareholders of Leslie's, Inc. of a Class Action Lawsuit. The Gross Law Firm issues the following notice to shareholders of Leslie's, Inc. Shareholders who purchased shares of LESL during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CLASS PERIOD: February 5, 2021 to July 13, 2023 ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s growth was caused by customers over purchasing products to stockpile in case of a chemical shortage; (2) such sales inflated revenues and earnings and were not indicative of durable and sustainable demand or financial growth; (3) the Company took advantage of chemical shortages by urging customers to stock up on the products because Leslie’s could not “guarantee availability” of chemicals in the future; and (4) any slowdown in sales was not a normalization of past seasonality, but was due to the prior excess stockpiling. As a result, defendants’ positive statements about the Company’s financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. Annonce • Oct 20
Leslie’S, Inc. Appoints Seth Estep to Its Board of Directors, Effective November 14, 2023 Leslie's, Inc. announced that it has appointed Seth Estep to its Board of Directors and has increased the size of the Board from eight to nine members, effective November 14, 2023. Mr. Estep has served as Executive Vice President, Chief Merchandising Officer of Tractor Supply Company since February 2020 and as a member of Tractor Supply Company’s Executive Committee since June 2019. Prior to his current role, Mr. Estep served as Senior Vice President, General Merchandising from 2017 to 2020. He joined Tractor Supply in 2008, and held a number of merchandising roles of increasing seniority and responsibility at the company from 2008 to 2017. Mr. Estep also oversaw management of Petsense by Tractor Supply, a pet specialty retailer owned and operated by Tractor Supply, from 2020 to 2021. Mr. Estep holds a bachelor’s degree from the University of Tennessee and an MBA in Finance from Belmont University. Annonce • Sep 21
Leslie's, Inc. and Leslie's Poolmart, Inc. Announce Cessation of Paula Baker, Chief Revenue Officer In connection with a planned reorganization of certain senior management positions, on September 19, 2023, Leslie's, Inc. and Leslie's Poolmart, Inc. (collectively the "Company" or "Leslie's"), announced that Paula Baker, Chief Revenue Officer, will cease to serve as the Company's Chief Revenue Officer effective immediately. Ms. Baker will remain an employee of the Company through December 15, 2023 (the "Separation Date," and the period from September 19, 2023 through the Separation Date, the "Transition Period") to advise on matters relating to the transition and provide other transition services. Annonce • Sep 11
Saxena White P.A. Files New Securities Fraud Class Action Against Leslie’s, Inc Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the District of Arizona against Leslie’s, Inc. (Leslie’s or the company) and certain of the Company’s executive officers. The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder on behalf of all persons or entities that purchased and/or acquired Leslie’s common stock between February 5, 2021 and July 13, 2023, inclusive (the “Class Period”), and were damaged thereby. The Class Action filed by Saxena White is captioned: West Palm Beach Police Pension Fund v. Leslie’s, Inc., No. 2:23-cv-01887-SMB (D. Ariz.). Leslie’s provides pool supplies and related equipment to residential and professional customers. Approximately 80% of the Company’s offerings are products essential to the care of pools and spas, such as chemicals, equipment, cleaning accessories, and parts. Throughout the Class Period, Leslie’s customers were purchasing more chemicals than necessary, at significantly inflated prices. Rather than disclose that its impressive sales growth was based on artificial demand, the company claimed its growth initiatives drove its financial results and produced “healthy ongoing consumer demand” that was “durable” and “showed no signs of slowing.” As the Company itself was encouraging its customers to stockpile pool chemicals, Defendants were telling investors they “just haven’t seen any indication of any meaningful pull-forward” customer purchasing. The Class Action alleges that, during the Class Period, Defendants misled investors and/or failed to disclose that (1) the Company’s growth was caused by customers over purchasing products; (2) such sales inflated revenues and earnings and were not indicative of durable and sustainable demand or financial growth; (3) the Company prolonged the inflated customer demand by warning customers that Leslie’s could not “guarantee availability” of chemicals in the future; and (4) any slowdown in sales was not a normalization of past seasonality, but was due to the prior excess stockpiling. As a result, Defendants’ positive statements about the Company’s financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. Recent Insider Transactions • Aug 10
CEO & Director recently bought €315k worth of stock On the 7th of August, Michael Egeck bought around 50k shares on-market at roughly €6.30 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. New Risk • Aug 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.6% Last year net profit margin: 9.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-US$180m). High level of non-cash earnings (38% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (4.6% net profit margin). Reported Earnings • Aug 03
Third quarter 2023 earnings released: EPS: US$0.39 (vs US$0.67 in 3Q 2022) Third quarter 2023 results: EPS: US$0.39 (down from US$0.67 in 3Q 2022). Revenue: US$610.9m (down 9.3% from 3Q 2022). Net income: US$72.5m (down 41% from 3Q 2022). Profit margin: 12% (down from 18% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. New Risk • Jul 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 18% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-US$255m). Earnings are forecast to decline by an average of 18% per year for the foreseeable future. High level of non-cash earnings (36% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.3% average weekly change). Buying Opportunity • Jul 14
Now 35% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be €9.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 6.7% in 2 years. Earnings is forecast to decline by 39% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €10.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Specialty Retail industry in Germany. Total loss to shareholders of 42% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €17.48 per share. Annonce • Jun 01
Leslie's, Inc. Launches its AccuBlue Home Membership Program Leslie's, Inc. launched its AccuBlue Home® membership program, which offers the same water testing technology and treatment plan as its in-store AccuBlue water test. This service is the first of its kind, and centers around an easy-to-use, at-home testing device that is integrated with the Leslie's mobile app, allowing millions of pool and spa owners nationwide to access Leslie's comprehensive and proprietary 10-point water test and treatment plan from the comfort of their home. While the technology is sophisticated, the testing process is simple. Insert a pool water sample into the water test disk and place it into the AccuBlue Home testing device. Open the Leslie's app on mobile device to start the test and let AccuBlue Home do the rest. Light wavelengths pass through the water sample to precisely measure the water's chemistry makeup, and the Leslie's app delivers the water test quality score and step-by-step, customized treatment plan in just 60 seconds. Regular and comprehensive water testing is crucial to maintaining clean and safe water. It also improves the lifespan of pool and spa equipment and helps owners stay ahead of costly and time-consuming water balance issues. During the swim season, weekly pool water testing is recommended -- or more often depending on use. AccuBlue Home removes the guesswork of other at-home water tests, such as strips and reagents. The AccuBlue Home membership costs $50 a month and includes a free AccuBlue Home testing device, as well as $50 of Leslie's credits each month for purchases online, in app, or in stores. AccuBlue Home members can use their monthly credit to purchase any products from Leslie's, including pool maintenance items such as sanitizers and chemicals, as well as floats, games, and other accessories to make the most out of pool days. Leslie's AccuBlue and the AccuBlue Home programs offer the most comprehensive water test solution available in the industry. The test measures 10 different water chemistry elements, including pH, total alkalinity, phosphates, sanitizer levels, and more. Annonce • May 05
Leslie's, Inc. Reaffirms Earnings Guidance for the Full Year of Fiscal 2023 Leslie's, Inc. reaffirmed earnings guidance for the full year of fiscal 2023. For the year, the company expects sales of $1,560 million to $1,640 million, and net income of $131 million to $146 million. Reported Earnings • May 04
Second quarter 2023 earnings released: US$0.17 loss per share (vs US$0.041 loss in 2Q 2022) Second quarter 2023 results: US$0.17 loss per share (further deteriorated from US$0.041 loss in 2Q 2022). Revenue: US$212.8m (down 6.7% from 2Q 2022). Net loss: US$31.5m (loss widened 324% from 2Q 2022). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Germany. Buying Opportunity • Feb 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.4%. The fair value is estimated to be €17.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 44%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 16% in the next 2 years. Reported Earnings • Feb 05
First quarter 2023 earnings released: US$0.17 loss per share (vs US$0.077 loss in 1Q 2022) First quarter 2023 results: US$0.17 loss per share (further deteriorated from US$0.077 loss in 1Q 2022). Revenue: US$195.1m (up 5.6% from 1Q 2022). Net loss: US$30.3m (loss widened 109% from 1Q 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Specialty Retail industry in Germany. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €15.10, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Specialty Retail industry in Europe. Total loss to shareholders of 19% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €15.44 per share. Annonce • Feb 03
Leslie's, Inc. Re-Affirms Earnings Guidance for the Full Year of Fiscal 2023 Leslie's, Inc. reaffirmed earnings guidance for the full year of fiscal 2023. For the year, the company expects sales of $1,560 million to $1,640 million. Net income of $131 million to $146 million. Annonce • Jan 28
Leslie's, Inc., Annual General Meeting, Mar 16, 2023 Leslie's, Inc., Annual General Meeting, Mar 16, 2023, at 12:00 US Eastern Standard Time. Agenda: To consider Election of two Class II directors, as named in this proxy statement; Ratification of appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2023; Non-binding, advisory vote to approve named executive officer compensation; Adoption of Sixth Amended and Restated Certificate of Incorporation of Leslie’s, Inc., which declassifies Board of Directors and deletes certain obsolete provisions from Certificate of Incorporation. Annonce • Jan 20
Leslie's, Inc. to Report Q1, 2023 Results on Feb 02, 2023 Leslie's, Inc. announced that they will report Q1, 2023 results After-Market on Feb 02, 2023 Buying Opportunity • Jan 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be €15.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 58%. Revenue is forecast to grow by 10% in 2 years. Earnings is forecast to grow by 0.6% in the next 2 years. Annonce • Jan 11
Leslie's, Inc. Announces Board Resignations Leslie’s, Inc. announced that on January 6, 2023, Marc Magliacano notified the Company of his intention to resign as a director of the Company at the conclusion of the Company’s 2023 Annual Meeting of Shareholders currently scheduled for March 16, 2023. Marc Magliacano advised the Company that his resignation is not due to any disagreement with the Company on any matter relating to its operations, policies or practices. Additionally, on January 7, 2023, Jodeen Kozlak, a current director of the Company, advised the Company that she will not stand for re-election at the Company’s 2023 Annual Meeting of Shareholders. Jodeen Kozlak advised the Company that her decision not to stand for re-election is not due to any disagreement with the Company on any matter relating to its operations, policies or practices. Effective upon the conclusion of the Company’s 2023 Annual Meeting of Shareholders, the size of the Company’s Board of Directors will be reduced from ten to eight directors. Reported Earnings • Dec 01
Full year 2022 earnings released: EPS: US$0.86 (vs US$0.68 in FY 2021) Full year 2022 results: EPS: US$0.86 (up from US$0.68 in FY 2021). Revenue: US$1.56b (up 16% from FY 2021). Net income: US$159.0m (up 26% from FY 2021). Profit margin: 10% (in line with FY 2021). Like-for-like sales growth: 10.6% vs FY 2021 Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Specialty Retail industry in Germany. Annonce • Dec 01
Leslie's, Inc. Provides Earnings Guidance for the Fiscal 2023 Leslie's, Inc. provided earnings guidance for the fiscal 2023. For the year, the company expects Sales to be in range of $1,560 million to $1,640 million and net income to be in the range of $131 million to $146 million. Board Change • Nov 17
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Employee Director Claire Spofford was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Nov 17
Leslie's, Inc. to Report Q4, 2022 Results on Nov 30, 2022 Leslie's, Inc. announced that they will report Q4, 2022 results at 7:00 AM, US Eastern Standard Time on Nov 30, 2022 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improved over the past week After last week's 15% share price gain to €15.30, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Specialty Retail industry in Europe. Total loss to shareholders of 13% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €28.76 per share. Reported Earnings • Aug 06
Third quarter 2022 earnings released: EPS: US$0.67 (vs US$0.63 in 3Q 2021) Third quarter 2022 results: EPS: US$0.67 (up from US$0.63 in 3Q 2021). Revenue: US$673.6m (up 13% from 3Q 2021). Net income: US$123.0m (up 3.5% from 3Q 2021). Profit margin: 18% (down from 20% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 12%, compared to a 10% growth forecast for the industry in Germany. Annonce • Aug 06
Leslie's, Inc. Revises Earnings Guidance for the Full Year 2022 Leslie's, Inc. revised earnings guidance for the full year 2022. For the year, the company now expects sales to be $1,550 million to $1,570 million and net income to be $150 million to $160 million against sales of $1,575 million to $1,610 million and net income of $178 million to $190 million as previously forecasted. Annonce • Jul 23
Leslie's, Inc. to Report Q3, 2022 Results on Aug 05, 2022 Leslie's, Inc. announced that they will report Q3, 2022 results Pre-Market on Aug 05, 2022 Annonce • May 19
Leslie's, Inc. Announces Board Appointments On May 17, 2022, the Board of Directors of Leslie's, Inc. increased the size of the Board from nine to ten members and elected Claire Spofford to the Board, effective May 18, 2022. The Board also appointed Ms. Spofford to the Nominating and Corporate Governance Committee and Compensation Committee of the Board. Ms. Spofford will receive compensation for service as a non-employee director of the Company consistent with the compensation generally provided to other non-employee directors, as determined by the Board from time to time. Compensation for the Company’s non-employee directors is described in the Company’s Definitive Proxy Statement for its 2022 Annual Meeting of Shareholders filed with the Securities and Exchange Commission on January 31, 2022. Ms. Spofford, age 60, joined J.Jill, Inc. in February of 2021 as its Chief Executive Officer and President. She also serves on J.Jill’s board of directors. Prior to joining J.Jill, Ms. Spofford was the President of Cornerstone Brands from December 2017 to October 2020. In that role, she oversaw a portfolio of four interactive, aspirational, home and apparel lifestyle brands: Ballard Designs, Frontgate, Garnet Hill and Grandin Road. She led the team there in evolving the brands into profitable, digitally-driven omnichannel businesses. Before being promoted into this role, from January 2014 to December 2017, Ms. Spofford was the President of Garnet Hill. Prior to that, Ms. Spofford was Senior Vice President and Chief Marketing Officer of J.Jill and held numerous leadership roles at Orchard Brands, including Interim President and Chief Executive Officer, Group President for Premium Brands, and President of Appleseed’s. Before joining Orchard Brands, Spofford served as Vice President, Global Marketing of Timberland. Ms. Spofford currently serves on the board of directors of Reclaim Childhood, and she previously served on the boards of White Flower Farm and Project Adventure, Inc. Ms. Spofford received her M.B.A. from Babson College and her Bachelor of Arts in English and Political Science from the University of Vermont. Reported Earnings • May 07
Second quarter 2022 earnings released: US$0.041 loss per share (vs US$0.035 loss in 2Q 2021) Second quarter 2022 results: US$0.041 loss per share (down from US$0.035 loss in 2Q 2021). Revenue: US$228.1m (up 19% from 2Q 2021). Net loss: US$7.44m (loss widened 15% from 2Q 2021). Over the next year, revenue is forecast to grow 15%, compared to a 13% growth forecast for the industry in Germany. Annonce • May 06
Leslie's, Inc. Raises Earnings Guidance for the Fiscal Year 2022 Leslie's, Inc. raised earnings guidance for the fiscal year 2022. For the year, the company expects sales to be $1,575 to $1,610 million against prior guidance of $1,495 to $1,520 million, Net income to be $178 million to $190 million against prior guidance of $170 million to $180 million. Board Change • May 05
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Lead Independent Director James Ray was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Apr 22
Leslie's, Inc. to Report Q2, 2022 Results on May 05, 2022 Leslie's, Inc. announced that they will report Q2, 2022 results After-Market on May 05, 2022 Recent Insider Transactions • Feb 10
CEO & Director recently bought €1.8m worth of stock On the 8th of February, Michael Egeck bought around 102k shares on-market at roughly €17.22 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Michael has been a net seller over the last 12 months, reducing personal holdings by €37m.