Filing Analysis
Leslie's, Inc. filed an amendment to its previous 8-K to correct a clerical error regarding loss per share calculations for the fiscal year ended October 4, 2025.
🚩 Red Flags
- Restatement of earnings (though characterized as immaterial/clerical)
📋 Key Facts
- The filing is an 8-K/A (amendment) correcting an immaterial error in previously reported financial results.
- Corrected basic and diluted loss per share for the year ended Oct 4, 2025: $(25.57) and $(4.71).
- Previously reported figures were incorrectly stated as $(25.51) and $(4.70).
- The company explicitly states the error was clerical and immaterial.
- No other financial figures or information in the original 8-K are impacted.
Leslie's, Inc. announced a restructuring plan to close 80-90 underperforming U.S. stores to improve long-term profitability. The company expects to incur $12.0 million to $17.0 million in pre-tax charges related to asset impairments and inventory write-offs by Q1 2026.
🚩 Red Flags
- Significant restructuring charges ($12M-$17M) impacting near-term earnings.
- Inventory write-offs suggest potential overstocking or obsolescence issues in certain locations.
📋 Key Facts
- The Company plans to close approximately 80-90 underperforming U.S. stores.
- Closures are expected to be substantially completed by the end of the first fiscal quarter of 2026.
- Estimated total pre-tax charges: $12.0 million to $17.0 million.
- Breakdown of charges includes ~$8.0 million in impairment of long-lived assets and $4.0 million to $9.0 million in inventory write-offs.
- The company issued a press release regarding Q4 and fiscal year 2025 results (ended Oct 4, 2025).
Leslie's, Inc. has successfully regained compliance with Nasdaq's minimum bid price requirement. The company maintained a closing bid price of at least $1.00 per share for ten consecutive business days, resolving the delisting threat.
🚩 Red Flags
- Historical context of potential delisting due to stock price falling below $1.00 for a 30-day period (noted as previously reported).
📋 Key Facts
- The Company regained compliance with Nasdaq Listing Rule 5550(a)(2) (the 'Bid Price Rule').
- Compliance was achieved by maintaining a minimum closing bid price of at least $1.00 per share for ten consecutive business days from September 29, 2025, to October 13, 2025.
- The Nasdaq Listing Qualifications Department has declared the delisting matter closed.
- The original compliance deadline was October 21, 2025.
Leslie's, Inc. has implemented a 1-for-20 reverse stock split effective September 26, 2025. The move reduces the total number of outstanding shares to approximately 9,289,790 and changes the company's trading venue from Nasdaq Global Select Market to Nasdaq Capital Market.
🚩 Red Flags
- Reverse stock split (often used to avoid delisting or signal distress).
- Downgrade in exchange listing tier (Nasdaq Global Select Market to Nasdaq Capital Market).
📋 Key Facts
- Reverse stock split ratio: 1-for-20.
- Effective Date: September 26, 2025.
- Trading adjustment date: Expected September 29, 2025.
- New CUSIP number: 527064 208.
- Total outstanding shares reduced to approximately 9,289,790.
- Authorized shares reduced to 50,000,000.
- Company moving from Nasdaq Global Select Market to Nasdaq Capital Market.
Leslie's, Inc. has announced a delay in the effective date of its previously approved 1-for-20 reverse stock split. The split is now expected to take effect after trading on September 26, 2025, with new shares trading on September 29, 2025.
🚩 Red Flags
- Reverse stock split (typically used to boost share price or maintain exchange listing requirements)
- Implementation delay/adjustment in timing
📋 Key Facts
- Reverse stock split ratio: 1-for-20
- Original effective date: After close of trading on September 25, 2025
- New expected effective date: After close of trading on September 26, 2025
- Split-adjusted trading commencement: Open of trading on September 29, 2025 on Nasdaq Global Select Market
Leslie's, Inc. announced the appointment of Jeff White as Chief Financial Officer and Treasurer, effective October 5, 2025. The transition includes a planned advisory role for outgoing CFO Tony Iskander to ensure an orderly handover.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Jeff White appointed as CFO and Treasurer, effective October 5, 2025.
- Mr. White previously served as CFO at Sportsman’s Warehouse Holdings, Inc.
- Compensation for Mr. White includes a $575,000 base salary and an 85% target bonus.
- Mr. White received a one-time sign-on bonus of $295,000.
- Tony Iskander will serve as an advisor from October 5, 2025, through January 3, 2026, to facilitate transition.
- Advisor compensation for Mr. Iskander is set at $50,000 per month for a total of $150,000.
Leslie's, Inc. shareholders approved amendments to effect a reverse stock split via a special meeting held on September 10, 2025. The Board has since selected a final ratio of 1-for-20, effective after the close of trading on September 25, 2025.
🚩 Red Flags
- Execution of a reverse stock split is often used to regain compliance with minimum bid price requirements for exchange listing (Nasdaq), which can signal underlying weakness in share price performance.
- Significant reduction in total outstanding shares and authorized shares.
📋 Key Facts
- Shareholders approved a range of reverse split ratios (1-for-10 to 1-for-30) during a special meeting on Sept 10, 2025.
- The Board selected a final ratio of 1-for-20 on September 15, 2025.
- Effective date for the split is after market close on September 25, 2025.
- Post-split outstanding shares will be reduced to approximately 9,289,790.
- Authorized shares will be reduced to 50,000,000.
- The stock will trade under the same ticker 'LESL' on Nasdaq Global Select Market starting Sept 26, 2025, with a new CUSIP (527064 208).
- Fractional shares will be aggregated and sold for cash proceeds rather than issued.
Leslie's, Inc. announced that Interim CFO and Treasurer Tony Iskander will step down effective October 4, 2025, for personal reasons. The departure is not related to any disagreements regarding company operations or financial reporting.
🚩 Red Flags
- Departure of the Interim CFO creates temporary leadership vacuum in financial oversight during a transition period.
📋 Key Facts
- Tony Iskander is stepping down as Interim Chief Financial Officer, Treasurer, Principal Financial Officer, and Principal Accounting Officer.
- Effective date of departure: October 4, 2025 (or earlier if a successor is appointed).
- The company may engage Mr. Iskander as an Advisor following his departure.
- The resignation is for personal reasons and not due to disagreements over operations or accounting.
Leslie's, Inc. filed an 8-K to announce its financial results for the second quarter ended March 29, 2025. The filing serves as a formal notification that a press release containing these results has been issued.
📋 Key Facts
- Report date: August 6, 2025
- Reporting period: Second quarter ended March 29, 2025
- The filing includes Exhibit 99.1 (Press Release) containing the financial results.
- Interim CFO Anthony Iskander signed the report.
Leslie's, Inc. issued a press release announcing preliminary estimated financial results for its fiscal third quarter ended June 28, 2025. The company notes that these estimates are subject to final closing procedures and quarterly review adjustments.
🚩 Red Flags
- Preliminary estimates are subject to change and may differ from final audited/reviewed consolidated financial statements.
📋 Key Facts
- Announcement date: July 28, 2025
- Reporting period: Fiscal third quarter ended June 28, 2025
- Nature of filing: Preliminary estimated financial results (Item 2.02)
- The information is not 'filed' for purposes of Section 18 liability under the Exchange Act.
Leslie's, Inc. announced a leadership transition in its merchandising and supply chain division. Amy College has been appointed as the new Chief Merchandising and Supply Chain Officer effective July 20, 2025, replacing Moyo LaBode, who departed on July 15, 2025.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Amy College appointed as Chief Merchandising and Supply Chain Officer, effective July 20, 2025.
- Ms. College's responsibilities include merchandising, inventory, supply chain, logistics, manufacturing, and the digital marketplace business.
- Compensation for Ms. College includes a $525,000 base salary, a 65% target bonus, and an initial equity grant of 305,685 restricted stock units (RSUs).
- Ms. College will receive a one-time sign-on bonus of $150,000.
- Moyo LaBode departed the company effective July 15, 2025; his departure was not due to any disagreement regarding operations or financial statements.
- Mr. LaBode will receive severance benefits under the Company's Executive Severance Pay Plan.
Leslie's, Inc. filed an 8-K to announce its financial results for the second quarter ended March 29, 2025. The filing serves as a formal notification that a press release containing these results was issued on May 8, 2025.
📋 Key Facts
- Company announced Q2 financial results for the period ending March 29, 2025.
- The announcement was made via press release dated May 8, 2025.
- Interim CFO Anthony Iskander signed the report.
Leslie's, Inc. received a notice from Nasdaq stating its common stock is subject to potential delisting because the bid price has closed below $1.00 for 30 consecutive business days. The company has until October 21, 2025, to regain compliance or face potential transfer to the Nasdaq Capital Market.
🚩 Red Flags
- Potential delisting from the Nasdaq Global Select Market.
- Stock price has been below $1.00 for 30 consecutive business days, indicating significant downward momentum or distress.
- Risk of being downgraded to the Nasdaq Capital Market if compliance is not met.
📋 Key Facts
- Received notice from Nasdaq on April 24, 2025.
- Violation of Nasdaq Listing Rule 5550(a)(2) (Bid Price Rule).
- Compliance deadline is October 21, 2025 (180 calendar days from Notice).
- Regaining compliance requires the bid price to close at $1.00 or more for 10 consecutive business days.
- Failure to comply by the deadline may result in a transfer to The Nasdaq Capital Market.
Leslie's, Inc. announced a significant leadership shuffle including the departure of CFO Scott Bowman and Chief Stores Officer Dave Caspers. The company has appointed Tony Iskander as Interim CFO and promoted Naomi Cramer to a newly created role combining People and Retail Operations functions.
🚩 Red Flags
- Multiple officer departures in a single filing (CFO and Chief Stores Officer).
- Related-party transaction: The interim CFO's consulting firm has already received $156,000 from the company prior to his formal appointment.
📋 Key Facts
- Scott Bowman departed as CFO and Treasurer effective March 14, 2025; departure was not due to disagreements regarding operations or financials.
- Tony Iskander appointed Interim CFO and Treasurer effective March 14, 2025, with an annual base salary of $550,000.
- Naomi Cramer promoted from Chief People Officer to the new role of Chief Retail Operations and Talent Officer.
- Dave Caspers to step down as Chief Stores Officer on March 26, 2025; departure not due to disagreements regarding operations or financials.
- The company has paid approximately $156,000 to Stambrisk Consulting LLC (co-founded by Interim CFO Tony Iskander) since December 2024.
Leslie's, Inc. reported the results of its 2025 Annual Meeting of Stockholders held on March 12, 2025. Shareholders approved director elections, the ratification of Ernst & Young LLP as independent auditors, and amendments to the Certificate of Incorporation regarding director removal and officer exculpation.
🚩 Red Flags
- Adoption of 'Exculpation Amendment' limiting the liability of certain Company officers to the fullest extent permitted by Delaware law.
📋 Key Facts
- Annual meeting held on March 12, 2025.
- Approved election of three Class I directors (Yolanda Daniel, Jason McDonell, Maile Naylor) and one Class II director (Lorna Nagler).
- Ratified Ernst & Young LLP as independent registered public accounting firm for fiscal year ending October 4, 2025.
- Approved a non-binding advisory vote on named executive officer compensation.
- Approved the Seventh Amended and Restated Certificate of Incorporation, which includes provisions to permit removal of directors without cause starting at the 2027 Annual Meeting and exculpation from liability for certain officers.
Leslie's, Inc. issued an 8-K to announce its financial results for the first quarter ended December 28, 2024. The filing serves as a formal notice that a press release containing these results has been issued.
📋 Key Facts
- Reporting period: First quarter ended December 28, 2024.
- Filing date: February 6, 2025.
- The company furnished Exhibit 99.1 containing the press release of financial results.
Leslie's, Inc. filed an 8-K to announce its financial results for the fourth quarter and fiscal year ended September 28, 2024.
📋 Key Facts
- Report date: November 25, 2024
- Reporting period: Fourth quarter and fiscal year ended September 28, 2024
- The filing includes a press release (Exhibit 99.1) containing the financial results.
Leslie's, Inc. announced a major leadership transition involving the immediate departure of CEO Michael R. Egeck and the appointment of Jason McDonell as the new CEO effective September 9, 2024. John Strain will serve as interim CEO to facilitate the transition.
🚩 Red Flags
- Sudden departure of the Chief Executive Officer ('effective immediately').
- Multiple leadership changes (CEO departure and appointment) within a single filing.
📋 Key Facts
- CEO Michael R. Egeck resigned from his position and the Board effective immediately (August 26, 2024).
- The company stated Egeck's departure was not due to any disagreement regarding operations or financial statements.
- Jason McDonell appointed as CEO and Director, effective September 9, 2024.
- McDonell's compensation includes $850,000 base salary, a 100% target bonus, $350,000 sign-on bonus, and $2.3M in total equity grants (RSUs and PSUs).
- John Strain (Chairman of the Board) appointed as Interim CEO effective immediately.
- The company reaffirmed its full fiscal 2024 outlook consistent with August 7, 2024 guidance.
Leslie's, Inc. announced that its Board of Directors approved and adopted Amended and Restated Bylaws effective August 13, 2024. The amendments primarily focus on procedural mechanics for stockholder business proposals and director nominations.
📋 Key Facts
- Board approved Amended and Restated Bylaws on August 13, 2024.
- Amendments clarify disclosure requirements for stockholder-proposed nominees and business proposals.
- The company eliminated certain disclosure requirements regarding performance-related fees and competitor interests held by stockholders.
- Bylaws include technical updates regarding the presiding chair of stockholders' meetings in the absence of the Chairman/CEO.
Leslie's, Inc. issued an 8-K to announce its financial results for the third quarter ended June 29, 2024. The filing serves as a formal notification of the release of quarterly earnings via press release.
📋 Key Facts
- Report date: August 7, 2024
- Reporting period: Third quarter ended June 29, 2024
- The company issued a press release (Exhibit 99.1) containing the financial results.
- Information under Item 2.02 is furnished but not 'filed' for purposes of Section 18 liability.
Leslie's, Inc. issued a press release announcing preliminary financial results for the third quarter ended June 29, 2024, and provided an updated outlook for the full fiscal year 2024.
🚩 Red Flags
- Preliminary estimates may differ from actual results once financial statements are finalized.
📋 Key Facts
- Announcement of estimated preliminary financial results for Q3 ended June 29, 2024.
- Updated full-year fiscal 2024 guidance/outlook provided.
- Results are subject to completion of quarterly review and final closing procedures.
Leslie's, Inc. announced the expansion of its Board of Directors from seven to eight members with the election of Lorna Nagler. Ms. Nagler will serve as a Class II director and join both the Nominating and Corporate Governance Committee and the Compensation Committee.
📋 Key Facts
- Board size increased from 7 to 8 members effective June 19, 2024.
- Lorna Nagler elected to the Board; designated as a Class II director.
- Ms. Nagler appointed to Nominating and Corporate Governance Committee and Compensation Committee.
- Ms. Nagler brings significant retail expertise, including serving as Chair of the Board at Ulta Beauty, Inc. (NASDAQ: ULTA) since June 2022.
Leslie's, Inc. announced changes to its Board of Directors effective May 15, 2024, including the election of Maile (Clark) Naylor and the resignation of Eric Kufel.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Maile (Clark) Naylor elected to the Board on May 15, 2024; appointed to Audit and Compensation Committees.
- Ms. Naylor is a CFA charter holder with 25 years of experience in investment management (formerly MFS Investment Management).
- Eric Kufel resigned from the Board effective May 15, 2024.
- Mr. Kufel's resignation is due to his appointment as Chairman and CEO of JustFoodForDogs; no disagreements with the company were reported.
Leslie's, Inc. filed an 8-K to announce its financial results for the second quarter ended March 30, 2024. The filing serves as a formal notification of the earnings release issued on May 8, 2024.
📋 Key Facts
- Report date: May 8, 2024
- Reporting period: Second quarter ended March 30, 2024
- The filing includes a press release as Exhibit 99.1 regarding financial results
- Information under Item 2.02 is furnished but not 'filed' for liability purposes under Section 18 of the Exchange Act
Leslie's, Inc. entered into Amendment No. 7 to its existing Credit Agreement, extending the maturity of its Revolving Credit Facility to April 3, 2029, and revising applicable margins. Additionally, the company announced the departure of its Chief Legal, Real Estate & Sustainability Officer, who will transition to a Special Advisor role through year-end.
🚩 Red Flags
- Officer departure (Chief Legal, Real Estate & Sustainability Officer).
📋 Key Facts
- Amendment No. 7 to Credit Agreement entered into on April 3, 2024.
- Revolving Credit Facility maturity date extended to April 3, 2029.
- Revision of applicable margin on Term SOFR and base rate loans.
- Brad Gazaway stepping down as Chief Legal, Real Estate & Sustainability Officer effective April 16, 2024.
- Gazaway to serve as Special Advisor to the CEO through December 31, 2024.
Leslie's, Inc. reported the results of its 2024 Annual Meeting held on March 15, 2024. Shareholders approved several key items including the election of directors, ratification of Ernst & Young LLP as auditors, and an amended Omnibus Incentive Plan.
📋 Key Facts
- Shareholders approved the Leslie’s, Inc. Amended and Restated 2020 Omnibus Incentive Plan on March 15, 2024.
- The new Plan allows for the issuance of up to 14,903,552 shares (subject to adjustments).
- Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending September 28, 2024.
- Three Class III directors (Susan O'Farrell, Claire Spofford, and Seth Estep) were elected.
- Seth Estep was reclassified from a Class III director to a Class II director to balance board classes.
Leslie's, Inc. filed an 8-K to announce its financial results for the first quarter ended December 30, 2023. The filing serves as a formal notice that a press release containing these results was issued on February 1, 2024.
📋 Key Facts
- Report date: February 1, 2024
- Reporting period: First quarter ended December 30, 2023
- The filing includes a press release as Exhibit 99.1 regarding financial results
- Information under Item 2.02 is furnished but not 'filed' for purposes of Section 18 liability