Leslie'S Stock Price, News & Analysis

Leslie's, Inc. (NASDAQ: LESL) is a U.S.-based retail company focused on the pool and spa care aftermarket. According to the company, Leslie's is the largest and most trusted direct-to-customer brand in the U.S. pool and spa care industry, serving both residential customers and pool professionals nationwide. Founded in 1963, the company concentrates on essential products and services that help consumers maintain and enjoy their pools and spas over time.

Leslie's serves the aftermarket needs of residential and professional consumers with what it describes as an extensive and largely exclusive assortment of essential pool and spa care products. These offerings are geared toward ongoing maintenance and care rather than initial pool or spa construction. The company highlights that its assortment is designed to support clean, safe, and enjoyable pool and spa environments for households and professional operators.

Business model and customer focus

The company operates an integrated ecosystem that combines physical locations with a digital platform. Leslie's reports operating approximately 950 to over 1,000 physical locations across the United States, along with e-commerce capabilities and a broader digital presence. This structure allows consumers to engage with the brand in stores and online, whenever and however they prefer to shop.

Leslie's emphasizes a direct-to-customer approach, serving individual pool and spa owners as well as pool professionals. Its communications describe a focus on customer centricity, convenience, and a value proposition built around essential products, expertise, and service. The company notes that its team includes associates, pool and spa care experts, and experienced service technicians who aim to equip consumers with the knowledge, products, and solutions needed to maintain their pools and spas with confidence.

Operations and retail footprint

Across its network of physical locations and its digital platform, Leslie's participates in the pool and spa aftermarket, where customers regularly purchase maintenance-related items and services. The company states that its integrated ecosystem supports engagement in stores, online, and through digital channels, and that its locations and platform together enable flexible shopping experiences for customers nationwide.

Leslie's has also described initiatives related to store and distribution center optimization. In connection with its fiscal 2025 results, the company announced plans to close a number of underperforming stores and one distribution center as part of efforts to improve operations and support what it calls a strategic transformation plan. These actions are presented by the company as part of a broader focus on cost structure, inventory efficiency, and financial recovery.

Loyalty and customer engagement

The company operates the Pool Perks Rewards Program, which it characterizes as an industry-leading loyalty program for residential pool customers. The refreshed program includes membership tiers that provide points on purchases, rewards, qualified free shipping thresholds, and access to local member events and bonuses. Higher tiers, such as Perks Elite and Perks MVP, offer enhanced rewards and specific promotional benefits when customers reach those tiers, as described in company communications.

Leslie's positions this loyalty program as aligned with its pillars of customer centricity and convenience. The company states that the program is intended to make pool care easier and more rewarding, with personalized offers designed to reflect individual customer needs and pool usage patterns, and to encourage long-term engagement with the brand.

Corporate actions and capital markets context

Leslie's common stock trades on Nasdaq under the symbol LESL. In 2025, the company disclosed that it had received a notice from Nasdaq indicating that its average closing share price had fallen below the minimum bid price requirement for continued listing. Following shareholder approval, the Board of Directors authorized a reverse stock split of the company’s common stock at a ratio of 1-for-20, along with a proportionate decrease in the number of authorized shares. The reverse stock split became effective upon the filing of a certificate of amendment in Delaware on September 26, 2025, and the company’s stock began trading on a split-adjusted basis on Nasdaq shortly thereafter under the same ticker symbol with a new CUSIP number.

Subsequently, Leslie's reported that it received a letter from the Nasdaq Listing Qualifications Department stating that the company had regained compliance with the minimum bid price requirement by maintaining a closing bid price of at least $1.00 per share for ten consecutive business days. The company indicated that this resolved the prior compliance matter related to the bid price rule.

Leadership and governance developments

Leslie's has reported several leadership and governance updates. The Board of Directors appointed Jeff White as Chief Financial Officer and Treasurer, effective in October 2025, with responsibilities that include serving as principal financial officer and principal accounting officer. The company also noted that its then-interim Chief Financial Officer and Treasurer, Tony Iskander, would step down from that role and transition into an advisory position for a limited period to support an orderly handover.

In addition, the company announced the appointment of a Chief Merchandising and Supply Chain Officer, with responsibilities spanning merchandising, inventory, supply chain, logistics, manufacturing, and the digital marketplace business. Leslie's has also reported the appointment of John Hartmann as an independent director to its Board, expanding the Board and adding retail leadership experience. These updates are presented by the company as part of its broader efforts to support its transformation initiatives and governance.

Strategic transformation and risk considerations

Leslie's has repeatedly referenced a strategic transformation plan aimed at improving operations, strengthening its balance sheet, optimizing its cost structure, and supporting long-term value creation. In its public communications, the company links actions such as store and distribution center optimization, inventory reduction, cost reductions, and leadership changes to this transformation effort.

The company’s press releases and SEC filings also include extensive discussions of risks and uncertainties. These include, among others, the ability to execute growth strategies and transformation initiatives, supply disruptions or increased costs, competition from mass merchants and specialty retailers, sensitivity to weather and broader economic conditions, distribution center operations, technology implementation, management transitions, regulatory changes, access to capital, commodity price movements, and cyber or security incidents. Leslie's also notes risks related to maintaining compliance with Nasdaq listing standards and addressing internal control matters, as described in its filings with the U.S. Securities and Exchange Commission.

FAQs about Leslie's, Inc. (LESL)

• What does Leslie's, Inc. do?
  Leslie's, Inc. operates in the U.S. pool and spa care aftermarket. The company describes itself as the largest and most trusted direct-to-customer brand in this space, serving residential customers and pool professionals with essential pool and spa care products and related expertise.
• When was Leslie's founded?
  According to company disclosures, Leslie's was founded in 1963. This long operating history underpins its positioning in the U.S. pool and spa care industry.
• Where does Leslie's operate?
  Leslie's states that it serves customers nationwide in the United States. It operates an integrated ecosystem of physical locations—described in recent communications as approximately 950 to over 1,000 stores—and a digital platform that includes e-commerce and online engagement.
• Who are Leslie's primary customers?
  The company serves residential pool and spa owners as well as pool professionals. It focuses on the aftermarket needs of these customers, providing essential products and support for ongoing maintenance and enjoyment of pools and spas.
• What is the Pool Perks Rewards Program?
  Pool Perks is Leslie's loyalty program for residential customers. Members earn points on purchases, can qualify for rewards and qualified free shipping thresholds, and may access local events and bonuses. The program includes tiers such as Perks, Perks Elite, and Perks MVP, with higher tiers offering enhanced rewards and specific promotional benefits, as described in company materials.
• On which exchange is Leslie's stock listed and what is its ticker?
  Leslie's common stock trades on Nasdaq under the ticker symbol LESL. The company has disclosed that it implemented a 1-for-20 reverse stock split and later reported regaining compliance with Nasdaq’s minimum bid price requirement.
• Why did Leslie's implement a reverse stock split?
  In its proxy statement and related filings, Leslie's explained that the primary purpose of the reverse stock split was to increase the per share trading price of its common stock, in order to address Nasdaq’s minimum bid price requirement and support continued listing. The company also cited potential benefits such as broader investor eligibility and flexibility for capital raising and strategic transactions.
• What is Leslie's strategic transformation plan?
  In multiple press releases, Leslie's refers to a strategic transformation plan focused on improving operations and financial performance. Elements mentioned by the company include optimizing its store and distribution center footprint, adjusting its cost structure, improving inventory efficiency, and reinforcing leadership and governance to support long-term value creation.
• What risks does Leslie's highlight in its public disclosures?
  Leslie's identifies a range of risks, including execution of growth and transformation strategies, supply chain disruptions, competition, weather and economic conditions, distribution center operations, technology implementation, management transitions, regulatory developments, access to capital, commodity price changes, public health events, cyber incidents, and compliance with Nasdaq listing standards. Additional detail is provided in the risk factor sections of its SEC filings.
• How does Leslie's describe its approach to customer service?
  The company emphasizes that its associates, pool and spa care experts, and experienced service technicians are focused on empowering consumers with knowledge, products, and solutions. Leslie's positions this approach as central to helping customers confidently maintain and enjoy their pools and spas.