Business
Leslie’s, Inc. Announces Record Results for First Quarter of Fiscal 2021; Raises Full Year Outlook
Record first quarter sales of $145.0 million, an increase of 17.9% over the prior year quarter; comparable sales growth of 15.7% on a reported basis and 25.7%
About this update from Leslie's, Inc.
[{"type":"text","content":"Record first quarter sales of $145.0 million, an increase of 17.9% over the prior year quarter; comparable sales growth of 15.7% on a reported basis and 25.7% on a shifted basis as a result of the 53rd week in Fiscal 2020GAAP net loss of $(30.3) million compared to $(26.2) million in the prior year; Adjusted net loss of $(10.6) million compared to $(24.3) million in the prior year, an improvement of $13.7 millionAdjusted EBITDA of $(0.2) million compared to $(9.0) million in the prior year, an improvement of $8.8 millionRaises Fiscal 2021 sales outlook by $20 million, Adjusted EBITDA by $10 million, and Adjusted net income per share by $0.05 PHOENIX, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Leslie’s, Inc. (“Leslie’s” or the “Company”; NASDAQ: LESL), the largest and most trusted direct-to-consumer brand in the U.S. pool and spa care industry, today announced its financial results for the first quarter of Fiscal 2021 ended January 2, 2021. Mike Egeck, Chief Executive Officer, commented, “Our record fiscal Q1 results exceeded our internal expectations on both the top and the bottom line. This strong performance continues to be driven by the three unique pillars that make our business so compelling, namely; the recurring and non-discretionary nature of demand in our industry, the competitive advantages of our integrated ecosystem of physical and digital assets, and the significant whitespace opportunities we are addressing with our multi-pronged growth strategy.” “The first quarter is seasonally our lowest volume period, and although we are very pleased with the strong start to the year, as evidenced by the increase in our full year outlook, our entire organization remains focused on the execution of our growth initiatives for pool season 2021 and delivering on our financial and operational goals,” Mr. Egeck concluded. First Quarter Highlights Sales increased 17.9% to $145.0 million from $123.0 million in the first quarter of Fiscal 2020. Comparable sales on an unshifted basis increased 15.7% for the thirteen-week period ended January 2, 2021 compared to the thirteen week period ended December 28, 2019. On a shifted basis, using a realigned period in 2020 for comparability given the 53rd week in Fiscal 2020, comparable sales increased 25.7%Gross profit increased 25.9% to $51.7 million from $41.1 million in the first quarter of Fiscal 2020 ...