Phoenix-based retailer/distributor Leslie’s, Inc. has released its financial results for the first quarter of its fiscal 2026.
“Leslie’s transformation journey is gaining momentum as we execute with precision and urgency,” said Jason McDonell, Chief Executive Officer. “Our first quarter results met our expectations, and we’ve made meaningful optimization progress across stores, distribution, SKUs, and costs. While Q1 and Q2 historically represent approximately 25% of annual revenue, to start Q2, we are seeing encouraging momentum with positive comparable store sales in January. This, coupled with the progress we’re making on our transformation initiatives, gives us conviction in delivering our full-year commitments.”
For the company’s first quarter of its fiscal year, which runs from October to September, sales dropped 16% to $147.1 million, compared to $175.2 million in Q1 2025. Comparable sales decreased 15.5%. It reported a gross profit of $27.1 million, a decrease of 43.3% compared to $47.7 million the same quarter last year.
Late last year, Leslie’s announced it woujld close 80 stores that it deemed underperforming, which took place in the first quarter. The national retailer shared other measures it plans this year to improve business.
“As we move into the 2026 pool season, we are implementing a strategic pricing transformation, a fundamental shift to value pricing supported by our ‘New Low Prices, Same Great Quality’ campaign launching to coincide with pool season,” McDonell said. “This strategy positions our field organization to leverage our proprietary 10-point AccuBlue® water testing, enabling a consultative in-store approach that drives consumer engagement, conversion, basket size, and loyalty. Through renewed pricing and revitalized marketing, we are well positioned to grow our active customer file by re-engaging lapsed consumers and attracting new customers.”
