Leslie's Appoints John Hartmann as Independent Director
Leslie's announced that it has appointed John Hartmann as an independent director to its Board of Directors, effective January 7, 2026. Hartmann 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 Hartmann, the Board will expand from eight to nine members.
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What’s Happening with Leslie's Stock Today?
Mixed Financial Results: Leslie’s, Inc. reported adjusted earnings per share of nine cents, significantly missing the consensus estimate of $1.29, while revenue of $389.20 million exceeded expectations of $370.63 million.
Store Closures and Strategic Changes: The company plans to close 80 to 90 underperforming stores and one distribution center as part of a strategy to improve EBITDA by fiscal 2026, alongside a 10% reduction in inventory.
Impairment Charges and Profit Margins: Leslie's recorded $183.8 million in impairment charges, with gross profit increasing by 4.8% to $150.1 million, despite a 6.5% decline in comparable sales.
Analyst Reactions and Stock Performance: Following the earnings report, analysts adjusted their price targets downward, with Leslie’s shares trading 20.95% lower at $2.83.
