Leslie's, Inc. (LESL): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no mundo da Leslie's, Inc. (LESL), uma potência na indústria de suprimentos de piscinas que criou magistralmente uma tela robusta do modelo de negócios, transformando como os proprietários e profissionais da piscina acessam produtos de manutenção essenciais. Com uma abordagem estratégica que combina perfeitamente a inovação de varejo, plataformas digitais e ofertas abrangentes de produtos, a Leslie's se posicionou como uma solução única para tudo o que está relacionado à piscina, que serve mercados residenciais, comerciais e profissionais com experiência e conveniência incomparáveis.

Leslie's, Inc. (LESL) - Modelo de negócios: Parcerias -chave

Fabricantes de suprimentos de piscina

A Leslie's mantém parcerias estratégicas com os principais fabricantes de equipamentos de piscina:

Fabricante	Detalhes da parceria	Volume anual de oferta
Hayward Industries	Fornecedor de equipamentos primários	US $ 78,3 milhões em 2023
Pentair	Equipamentos e sistemas de filtragem	US $ 62,5 milhões em 2023
Sistemas de pool de zodíaco	Equipamento automatizado de limpeza de piscina	US $ 45,2 milhões em 2023

Plataformas de comércio eletrônico

A estratégia de parceria digital de Leslie inclui:

• Integração do mercado da Amazon
• Walmart Online Seller Platform
• Programa de Vendedor Profissional do eBay

Provedores de armazém e logística

Parceiro de logística	Cobertura de serviço	Custo logístico anual
XPO Logistics	Rede Nacional de Distribuição	US $ 24,7 milhões em 2023
FedEx Freight	Gerenciamento regional de armazém	US $ 18,3 milhões em 2023

Processadores de pagamento com cartão de crédito

Parcerias de processamento de pagamentos:

• Stripe - Processamento de transações online
• CHASE PAGENHECH - Transações de crédito na loja
• PayPal - métodos de pagamento alternativos

Provedores de serviços de instalação e manutenção de piscina

Tipo de provedor de serviços	Escopo da parceria	Receita de referência
Contratados independentes de pool	Rede de referência de instalação	US $ 12,6 milhões em 2023
Empresas regionais de manutenção de piscinas	Programa de referência de serviço	US $ 8,9 milhões em 2023

Leslie's, Inc. (LESL) - Modelo de negócios: Atividades -chave

Distribuição de suprimentos de varejo e piscina on -line

A partir do quarto trimestre de 2023, a Leslie operava 1.027 lojas de varejo físico em 35 estados nos Estados Unidos. A empresa gerou US $ 1,76 bilhão em vendas líquidas totais para o ano fiscal de 2023.

Canal de distribuição	Porcentagem de vendas	Contagem de lojas
Lojas de varejo físico	68%	1,027
Plataforma de comércio eletrônico	32%	Online em todo o país

Fornecimento de produtos e gerenciamento de inventário

A Leslie's mantém um inventário abrangente de suprimentos de piscina e spa, com aproximadamente 80.000 SKUs em várias categorias de produtos.

• Valor do inventário: US $ 215,4 milhões em 31 de dezembro de 2023
• Taxa média de rotatividade de inventário: 4,2 vezes por ano
• Fornecimento de mais de 250 fabricantes e fornecedores

Atendimento ao cliente e suporte técnico

A Leslie's fornece suporte ao cliente multicanal por meio de:

• Consulta técnica na loja
• Suporte on -line 24/7
• Centro de suporte telefônico com 150 representantes dedicados

Canal de suporte	Tempo médio de resposta
Na loja	Imediato
Suporte telefônico	Abaixo de 3 minutos
Chat online	Menos de 5 minutos

Campanhas de marketing e promocionais

Despesas de marketing para o ano fiscal de 2023: US $ 42,3 milhões, representando 2,4% da receita total.

• Orçamento de marketing digital: US $ 18,7 milhões
• Publicidade tradicional: US $ 23,6 milhões
• Campanhas promocionais sazonais visando proprietários de piscinas

Plataforma digital e operações de comércio eletrônico

A plataforma de comércio eletrônico da Leslie processou US $ 563,2 milhões em vendas on-line durante o ano fiscal de 2023.

Métricas de plataforma digital	2023 desempenho
Transações online	1,4 milhão
Valor médio do pedido	$402
Tráfego móvel	62% das visitas online

Leslie's, Inc. (LESL) - Modelo de negócios: Recursos -chave

Extenso inventário de suprimento de piscina

A partir do quarto trimestre 2023, Leslie's mantém um inventário avaliado em US $ 187,3 milhões, consistindo em:

Categoria de inventário	Percentagem	Valor estimado
Produtos químicos da piscina	42%	US $ 78,7 milhões
Equipamento de piscina	33%	US $ 61,8 milhões
Ferramentas de manutenção	25%	US $ 46,8 milhões

Rede nacional de lojas de varejo

Leslie's opera 1.133 locais de varejo em 36 estados em 31 de dezembro de 2023.

• Mágua quadrada total de varejo: 1.024.700 pés quadrados.
• Tamanho médio da loja: 904 pés quadrados.
• Distribuição geográfica: concentrado nos estados do sollt

Plataforma digital de comércio eletrônico

Métricas de vendas on -line para 2023:

Métrica de comércio eletrônico	Valor
Receita online anual	US $ 174,6 milhões
Tráfego do site	8,3 milhões de visitantes únicos
Downloads de aplicativos móveis	672,000

Equipe de atendimento ao cliente treinado

Composição da força de trabalho a partir de 2023:

• Total de funcionários: 4.200
• Equipe de varejo: 3.100
• Representantes de atendimento ao cliente: 450
• Posse média dos funcionários: 4,7 anos

Fortes relacionamentos de fornecedores

Detalhes da rede de fornecedores:

Categoria de fornecedores	Número de fornecedores	Duração média da parceria
Fabricantes químicos da piscina	37	8,3 anos
Fabricantes de equipamentos	22	6,5 anos
Fornecedores de ferramentas de manutenção	15	5,9 anos

Leslie's, Inc. (LESL) - Modelo de negócios: proposições de valor

Produtos abrangentes de manutenção de pool e spa

A Leslie's, Inc. oferece uma receita total de US $ 621,7 milhões em 2022, com uma gama de produtos que abrange mais de 4.000 itens únicos de manutenção de piscinas e spa.

Categoria de produto	Contribuição da receita	Quota de mercado
Produtos químicos	US $ 287,5 milhões	46.3%
Equipamento	US $ 198,3 milhões	31.9%
Peças e acessórios	US $ 135,9 milhões	21.8%

Preços competitivos para suprimentos de piscina

Leslie's mantém um preço médio de 7 a 12% menor que os concorrentes especializados, com Estratégias de preços online Isso corresponde a taxas de varejistas de grandes caixas.

Conhecimento de produtos especializados e suporte ao cliente

• 98,3% Taxa de resolução de atendimento ao cliente
• Mais de 250 especialistas treinados na piscina treinados
• Suporte técnico online 24/7

Experiência conveniente de compra online e na loja

As vendas digitais representaram 31,5% da receita total em 2022, com 187 locais de varejo físico em 36 estados.

Canal de vendas	Receita	Taxa de crescimento
Lojas de varejo	US $ 425,6 milhões	12.4%
Plataforma online	US $ 196,1 milhões	27.6%

Seleção de produtos ampla para proprietários e profissionais de piscinas

A Leslie's serve mercados residenciais e comerciais com 4.236 SKUs de produtos distintos, atendendo a empreiteiros de piscina, proprietários de imóveis e profissionais de manutenção.

• Segmento de mercado residencial: 68,5% do total de vendas
• Segmento comercial/profissional: 31,5% do total de vendas

Leslie's, Inc. (LESL) - Modelo de Negócios: Relacionamentos do Cliente

Atendimento ao cliente personalizado na loja

A Leslie's emprega 4.500 associados de varejo em 939 locais de lojas físicas a partir de 2023. Os representantes de atendimento ao cliente recebem uma média de 32 horas de treinamento anualmente.

Métrica de serviço	Valor
Tempo médio de interação do cliente	12,5 minutos
Classificação de atendimento ao cliente da equipe	4.6/5

Suporte on -line através do site e bate -papo

A plataforma de suporte ao cliente digital da Leslie lida com aproximadamente 87.000 interações on -line mensalmente.

Canal de suporte digital	Tempo de resposta
Bate -papo ao vivo	Abaixo de 3 minutos
Suporte por e -mail	Dentro de 24 horas

Orientação técnica do produto

• Oferecer serviços gratuitos de consulta de produtos
• Forneça manuais técnicos detalhados para mais de 2.300 produtos de manutenção de piscinas
• Mantenha mais de 150 vídeos tutoriais online

Programa de fidelidade para clientes recorrentes

O programa de fidelidade das vantagens da piscina de Leslie inclui 1,2 milhão de membros ativos a partir do quarto trimestre 2023.

Benefício do programa de fidelidade	Detalhes
Taxa de ganho de pontos	1 ponto por US $ 1 gasto
Desconto anual do membro	5% de desconto no total de compras

Recursos educacionais sobre manutenção do pool

A Leslie's fornece mais de 250 guias on -line abrangentes e recursos educacionais.

• Quilágalizos de manutenção trimestral
• Boletins de e -mail de cuidados sazonais para 780.000 assinantes
• Listas de verificação de manutenção para download

Leslie's, Inc. (LESL) - Modelo de Negócios: Canais

Lojas de varejo físico

A partir de 2023, a Leslie's, Inc. opera 1.132 lojas de varejo em 36 estados nos Estados Unidos.

Tipo de loja	Número de locais	Tamanho médio da loja
Lojas de suprimentos especiais de piscina	1,132	4.500 pés quadrados

Site da empresa

A plataforma on -line de Leslie em www.lesliespool.com gera aproximadamente 35% da receita total da empresa.

Métricas do site	Dados anuais
Tráfego anual da Web	8,2 milhões de visitantes únicos
Taxa de conversão de vendas on -line	3.7%

Aplicativo móvel

O aplicativo móvel de Leslie foi lançado em 2021 com as seguintes características:

• Disponível em plataformas iOS e Android
• Mais de 250.000 downloads totais
• 4.2/5 Classificação média do usuário

Plataformas de mídia social

Plataforma	Contagem de seguidores	Taxa de engajamento
Facebook	185.000 seguidores	2.3%
Instagram	95.000 seguidores	3.1%

Mercados de comércio eletrônico de terceiros

A Leslie's vende produtos em várias plataformas on -line:

• Amazon: 22% das vendas de mercado on -line
• Home Depot online: 15% das vendas de mercado on -line
• Walmart Marketplace: 8% das vendas de mercado on -line

Marketplace	Volume anual de vendas	Porcentagem de vendas online totais
Amazon	US $ 24,6 milhões	22%
Home Depot online	US $ 16,8 milhões	15%
Walmart Marketplace	US $ 8,9 milhões	8%

Leslie's, Inc. (LESL) - Modelo de negócios: segmentos de clientes

Proprietários de piscinas residenciais

A partir de 2023, a Leslie's atende a aproximadamente 8,5 milhões de proprietários de piscinas residenciais nos Estados Unidos. Os gastos médios da manutenção da piscina doméstica são de US $ 1.200 anualmente.

Característica do segmento	Dados estatísticos
Domicílios totais da piscina residencial	10,4 milhões
Despesas médias de manutenção da piscina anual	US $ 1.200 por família
Porcentagem da base de clientes de Leslie	65% da receita total

Técnicos profissionais de serviço de piscina

A Leslie's suporta aproximadamente 50.000 técnicos profissionais de serviços de pool em todo o país.

• Volume médio de compra anual de equipamentos: US $ 75.000 por técnico
• Gastos anuais totais estimados do mercado: US $ 3,75 bilhões
• Participação de mercado de Leslie no segmento profissional: 42%

Instalações de piscina comercial

O segmento de piscina comercial inclui hotéis, piscinas municipais, parques aquáticos e centros recreativos.

Tipo de instalação	Total de instalações	Penetração de mercado de Leslie
Hotéis com piscinas	53,000	35%
Pools municipais	4,200	48%
Parques aquáticos	1,100	55%

Construtores de piscina

A Leslie's atende a aproximadamente 12.000 empresas de construção e reforma de piscinas.

• Aquisição média anual de equipamentos: US $ 250.000 por construtor
• Valor de mercado anual total: US $ 3 bilhões
• Taxa de relacionamento de fornecedores de Leslie: 68%

Entusiastas da melhoria da casa

O mercado de manutenção de piscinas DIY representa um segmento crescente de clientes para a Leslie's.

Métrica de segmento	Valor
Total de proprietários de piscinas DIY	2,3 milhões
Gastos médios anuais de bricolage	US $ 600 por família
Porcentagem das vendas on -line de Leslie	22%

Leslie's, Inc. (LESL) - Modelo de negócios: estrutura de custos

Compras de inventário

Para o ano fiscal de 2023, a Leslie's, Inc. registrou custos totais de compras de inventário de US $ 304,7 milhões. A taxa de rotatividade de inventário da empresa foi de 5,2x.

Categoria de inventário	Custo anual de compras	Porcentagem de total
Equipamento de piscina	US $ 142,2 milhões	46.7%
Produtos químicos & Manutenção	US $ 98,5 milhões	32.3%
Acessórios	US $ 63,9 milhões	21%

Operações e manutenção da loja

As despesas anuais de operações da loja para 2023 totalizaram US $ 87,3 milhões, que incluem:

• Despesas de aluguel e arrendamento: US $ 42,6 milhões
• Utilitários: US $ 15,2 milhões
• Manutenção da loja: US $ 29,5 milhões

Salários dos funcionários

A compensação total dos funcionários em 2023 foi de US $ 156,4 milhões, com a seguinte quebra:

Categoria de funcionários	Despesas salariais anuais
Funcionários corporativos	US $ 38,7 milhões
Funcionários da loja de varejo	US $ 93,6 milhões
Pessoal do centro de distribuição	US $ 24,1 milhões

Despesas de marketing e publicidade

As despesas de marketing para 2023 totalizaram US $ 24,8 milhões, representando 2,7% da receita total.

• Marketing Digital: US $ 12,3 milhões
• Publicidade tradicional: US $ 7,5 milhões
• Eventos promocionais: US $ 5,0 milhões

Investimentos de tecnologia e plataforma digital

Os investimentos em tecnologia para 2023 foram de US $ 18,6 milhões, com foco em comércio eletrônico e infraestrutura digital.

Categoria de investimento em tecnologia	Despesa
Desenvolvimento da plataforma de comércio eletrônico	US $ 8,2 milhões
Infraestrutura de TI	US $ 6,4 milhões
Segurança cibernética	US $ 4,0 milhões

Leslie's, Inc. (LESL) - Modelo de negócios: fluxos de receita

Vendas de suprimentos de pool de varejo

Para o ano fiscal de 2023, a Leslie relatou vendas líquidas totais de US $ 738,4 milhões. As vendas de suprimentos de pool de varejo representaram aproximadamente 65% da receita total, equivalente a US $ 480 milhões.

Categoria de produto	Receita (2023)	Porcentagem de vendas de varejo
Produtos químicos	US $ 192 milhões	40%
Equipamento	US $ 144 milhões	30%
Acessórios	US $ 144 milhões	30%

Vendas on -line de produtos

As vendas on -line representaram 22% da receita total em 2023, representando aproximadamente US $ 162,5 milhões.

• A plataforma de comércio eletrônico gerou US $ 162,5 milhões em receita
• As vendas on-line cresceram 15,3% ano a ano
• O canal digital representou 22% da receita total da empresa

Vendas de equipamentos profissionais

O segmento profissional e comercial gerou US $ 72 milhões em receita, compreendendo 10% do total de vendas.

Segmento profissional	Receita (2023)
Suprimentos de piscina comercial	US $ 45,6 milhões
Equipamento de serviço profissional	US $ 26,4 milhões

Ofertas de produtos relacionadas a serviços

As ofertas relacionadas a serviços geraram US $ 23,9 milhões, representando 3,2% da receita total.

• Consultas de instalação da piscina: US $ 8,7 milhões
• Serviços de reparo: US $ 12,5 milhões
• Manutenção do equipamento: US $ 2,7 milhões

Programas de manutenção baseados em assinatura

Os programas de assinatura de Leslie geraram US $ 6,5 milhões em receita recorrente.

Tipo de assinatura	Receita anual	Assinantes
Plano de manutenção básica	US $ 3,9 milhões	26,000
Pacote de serviço premium	US $ 2,6 milhões	11,500

Leslie's, Inc. (LESL) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Leslie's, Inc. over the competition as of late 2025. It's about blending that specialized knowledge with modern convenience, even as the company navigates some tough market conditions.

Here's a quick look at some of the numbers supporting the current state of the business, particularly around inventory and service improvements:

Metric	2025 Fiscal Year/Period Data Point	Context/Improvement
Inventory Rationalization (FY2025)	$26 million reduction year-over-year	Exceeded the Q3 commitment of $20 million
In-Stock Improvement (Never Out SKUs)	Over 400 basis points improvement vs. 2024	Supported a 74 basis point traffic conversion result improvement in FY2025
Top-Selling SKU In-Stock Rate (Q3 2025)	Over 99%	Driven by Local Fulfillment Centers (LFCs)
Pool Perks Loyalty Program Coverage	Covers over 85% of transactions	Enables precise, personalized marketing
Q4 2025 Gross Margin	38.6%	Up from 36% in the prior year period
SKU Exits	Exiting underperforming SKUs, reducing count by over 2,000	Aims for $4 million-$5 million in annualized EBITDA improvement

Trusted, expert advice through personalized water treatment plans

Leslie's, Inc. leans heavily on its in-store expertise to drive value. The core offering here is the diagnostic service that leads to a specific chemical recommendation.

• The 10-point water test provides a personalized treatment plan tailored to the pool environment.
• In-store water tests using AccuBlue technology resulted in a more than 550 basis points improvement in conversion rate in Q3.
• Store teams focus on increasing units per transaction, which, aided by technical expertise, led to mid-single-digit growth in basket size for the quarter.

Convenience via omnichannel shopping and same-day delivery

The company is actively working to bridge the gap between its physical footprint and digital expectations. They know convenience is key to winning back traffic, especially after residential traffic declined by 8.6% in 2025.

• Leslie's expanded its same-day delivery service through a partnership with Uber.
• The goal is to scale this convenience service across the United States to enhance service delivery.

Extensive and largely exclusive assortment of essential pool products

The assortment is a key differentiator, especially in the retail segment where Leslie's held a 20.05% market share in the 12 months ending Q1 2025. This assortment is what helps support the higher gross margin.

To streamline operations, management is actively pruning the product catalog. They are exiting underperforming SKUs, reducing the count by more than 2,000 items. This inventory rationalization is part of a broader strategy to simplify go-to-market solutions.

High in-stock levels on critical 'Never Out' SKUs

Inventory management became a major focus in 2025, with a goal to ensure the right product is available when the customer needs it most. This focus is paying off in key areas.

For the fourth quarter of fiscal 2025, Leslie's, Inc. reported that in-stock levels for its top-selling never out SKUs improved by over 400 basis points compared to 2024. Furthermore, Local Fulfillment Centers (LFCs) drove in-stock rates of over 99% for these top-selling SKUs during Q3. This operational discipline helped reduce inventory by $26.3 million, or 11.2%, year-over-year as of October 4, 2025.

Value proposition improvement through price optimization on key items

Management recognized that pricing was a major factor in market share loss, citing that pricing on key items was 'out of step with our competitors'. Addressing this is a top priority to win back the net loss of over 160,000 residential customers experienced in 2025.

The strategy involves reinvesting cost savings directly into the price-value equation. Leslie's is targeting direct cost reductions of $7-$12 million to fund these price investments. To be fair, this investment will compress margins; the company expects a 100 to 150 basis point reduction in product gross margins in 2026 due to these pricing adjustments. Finance: draft 13-week cash view by Friday.

Leslie's, Inc. (LESL) - Canvas Business Model: Customer Relationships

You're looking at how Leslie's, Inc. is trying to lock in its pool-owning customers and win back the ones that slipped away in 2025. The strategy hinges on data from the loyalty program and boots-on-the-ground expertise.

Pool Perks loyalty program for retention and personalization

The refreshed Pool Perks Rewards Program, launched in May 2025, is central to retention efforts. It uses a tiered structure to reward spending, capturing critical zero-party data on over 85% of transactions. This data fuels targeted communications. Here's how the earning structure breaks down:

Tier Level	Points Per Dollar Spent	Reward Earning Rate	Tier Entry Bonus
Perks Member	1 point	$1 reward per 50 points	$1 reward for every 50 points earned
Perks Elite Member	1 point	$1 reward per 33 points	$5 bonus reward + 25% off float coupon
Perks MVP Member	1 point	$1 reward per 20 points	$10 bonus reward + 50% off float coupon

Also, free shipping is available for orders over $75 for Perks and Perks Elite members. It's defintely a system designed to increase purchase frequency.

High-touch, expert-driven in-store service post-water test

The in-store experience is being sharpened to drive basket size and conversion. Store teams are focusing on technical expertise tied to water testing. This effort showed results in the fourth quarter of fiscal 2025. Here are the key metrics from that period:

• Basket size saw mid-single-digit growth in Q4 FY2025.
• Conversion rates increased by 500 basis points following water tests.

This focus on expertise helps move customers from just buying chemicals to investing in equipment and services.

Targeted marketing to recapture over 160,000 lost residential customers

Management cited a significant challenge: a net loss of over 160,000 residential customers in 2025. This loss was attributed in part to a price-value challenge, which also saw an 8.6% decline in residential traffic. The plan to reverse this relies heavily on the loyalty data captured across 85% of transactions to execute precise, targeted marketing campaigns aimed at bringing those lapsed customers back into the fold.

Dedicated Pro-Pool sales teams for professional accounts

The professional segment shows relative resilience compared to the residential side. Looking at the second half of fiscal 2024, the pro pool consumer group experienced only a low single digit sales decline. This contrasts with the total company sales decline of just over 7% during that same peak season. The company sees more opportunity here going forward.

New market leadership structure to integrate local service offerings

To better serve all customer types locally, Leslie's, Inc. is restructuring its field teams. This new market leadership model integrates previously siloed functions-stores, service, commercial, and trade-at the local level. This change gives local managers clear ownership of their markets and zip codes. The goal is to enable full-service delivery in every store. This includes services like BOPIS, service appointments, and equipment repair.

Finance: draft 13-week cash view by Friday.

Leslie's, Inc. (LESL) - Canvas Business Model: Channels

You're looking at how Leslie's, Inc. gets its products and services to the customer as of late 2025. It's a mix of physical presence and digital speed, all centered on convenience.

The core physical channel remains the retail store network. Leslie's operated 1,000 locations in the second quarter of fiscal 2025. However, the company is actively optimizing this footprint, announcing plans to close 80 to 90 underperforming locations as part of its transformation. These closures are expected to impact annual sales by approximately $25-$35 million.

Leslie's, Inc. is the largest direct-to-customer brand in the U.S. pool and spa care industry, serving customers through this integrated ecosystem.

The digital platform is a critical component, supporting direct-to-customer sales. As of the end of fiscal 2024, the e-commerce segment was growing and nearing 20% of total sales. The comparable sales metric management uses includes sales through its e-commerce websites and third-party marketplaces.

To bridge the gap between digital and physical, Leslie's is accelerating its omnichannel transformation with a strategic partnership for same-day delivery.

• Use Uber partnership to expand same-day delivery services.
• Phoenix test markets showed fulfillment cut from days to hours and often minutes.
• The model is scaling across Arizona and continuing expansion across the United States through 2026.

The professional sales channel is being strengthened by leveraging the entire physical footprint. Leslie's is broadening engagement with pool service companies by utilizing its entire network of over 950 stores, moving beyond just designated pro locations. This professional segment showed resilience in fiscal 2024, with sales dropping only 1%. The new market leadership structure integrates store, service, commercial, and trade functions to better serve these customers.

Supporting faster delivery and better inventory management are the Local Fulfillment Centers (LFCs). Leslie's is rolling out 26 new LFCs, aiming for readiness before the 2025 pool season. These LFCs are key to the 'Never Out' SKU initiative, designed to improve in-stock levels by over 300 basis points. They also allow smaller locations to stock larger pro items, like 50-pound buckets of chlorine tabs. The company is also streamlining its distribution, planning a transition to an optimized 5DC network in 2026.

Here's a quick look at the channel structure:

Channel Component	Metric/Status (Late 2025)	Supporting Data Detail
Retail Store Footprint	Approximately 1,000 operating locations	Planning closure of 80 to 90 underperforming stores
Digital Platform (E-commerce)	Nearing 20% of total sales (FY2024)	Comparable sales base includes e-commerce and third-party marketplaces
Same-Day Delivery	Scaling via Uber partnership	Phoenix test cut fulfillment from days to hours and often minutes
Professional Channel	Integrated across the network	Utilizing the entire network of over 950 stores for Pro engagement
Local Fulfillment Centers	26 new LFCs rolling out	Designed to boost in-stock levels by over 300 basis points

Finance: draft 13-week cash view by Friday.

Leslie's, Inc. (LESL) - Canvas Business Model: Customer Segments

You're looking at the customer base of Leslie's, Inc. (LESL) as of late 2025, and the data shows a clear strategic pivot underway, driven by market pressures on the core base. The company serves a diverse set of pool and spa owners across the United States, operating through its 1,000 physical locations as of the end of the third fiscal quarter of 2025.

The primary customer groups are:

• Residential DIY pool and spa owners
• Pool service professionals (Pro-Pool segment)
• Commercial pool operators (e.g., hotels, community pools)

The performance across these segments in fiscal year 2025 highlights where the stress points and growth opportunities lie. The overall trailing twelve months (TTM) revenue for Leslie's, Inc. stood at approximately $1.25 billion as of the end of the third fiscal quarter of 2025.

Here is a breakdown of the segments with the latest available statistical and financial context:

Customer Segment	2025 Performance/Contextual Data Point	Implication/Focus Area
Residential DIY pool and spa owners	Experienced a net loss of over 160,000 residential customers in 2025.	Traffic declined by 8.6% in Q3 2025. Residential pool sales declined 9% year-over-year in Q2 2025.
Pool service professionals (Pro-Pool segment)	Showed 9% growth year-over-year in Q1 2025.	Segment sales declined 2% year-over-year in Q2 2025. This is the stated higher-growth segment.
Value-conscious consumers seeking competitive chemical pricing	Management is investing in price optimization on key items.	This is in response to market share loss due to a price-value challenge. The company is accepting a projected 100 to 150 basis point reduction in gross margin to address this.
Lapsed residential customers targeted for re-engagement	Directly related to the net loss of over 160,000 residential customers.	Re-engagement is a key pillar of the transformation plan.

The pressure on the core residential base is significant, evidenced by the Q2 2025 residential pool sales decline of 9% year-over-year. To counter this, Leslie's, Inc. is focusing on the Pro-Pool segment, which saw strong growth of 9% in Q1 2025, though it softened to a 2% decline in Q2 2025.

The company's overall fiscal 2025 sales reached approximately $1,242.0 million. The strategy involves aggressive price adjustments to win back value-focused customers, even if it means accepting a lower gross margin rate, which was 39.6% in Q3 2025.

The customer groups served include:

• Residential Pool Owners: The largest group, currently experiencing traffic declines of 8.6% in Q3 2025.
• Pool Professionals: A segment management is actively trying to grow, despite a recent 2% sales dip in Q2 2025.
• Commercial Operators: While served, specific revenue contribution data for this segment is not explicitly broken out in the latest reports.

Finance: draft 13-week cash view by Friday.

Leslie's, Inc. (LESL) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive the operational costs for Leslie's, Inc. as of late 2025. This is where the rubber meets the road on their strategy.

The primary cost drivers for Leslie's, Inc. for the full fiscal year 2025 are laid out below, focusing on the figures reported in their latest financial disclosures.

Cost Component	FY2025 Amount (in millions)	Context/Comparison
Cost of Goods Sold (COGS)	$802.3	Calculated from Sales of $1,241.9 million and Gross Profit of $439.6 million.
Implied Gross Margin	35.4%	Decreased from 35.8% in the prior year.
Selling, General and Administrative (SG&A) Expenses	$425.7	Increased $6.0 million compared to $419.7 million in the prior year.
Interest Expense	$62.9	Decreased $7.5 million compared to $70.4 million in the prior year.
Non-cash Impairment Charges	$183.8	Comprised of $180.7 million for goodwill and $3.1 million of asset write offs. No charges recorded in the prior year.

The SG&A expenses of $425.7 million for the full year reflect the ongoing overhead of running the business, which the company is actively working to optimize. They are making structural adjustments to their cost base.

Store operating expenses are a significant part of that SG&A figure, and you can see the focus on rightsizing the cost base in their recent actions. Honestly, managing these fixed and semi-fixed costs is crucial when sales are under pressure.

• Payroll: Management has taken actions like reducing labor hours to better align with softer demand.
• Rent: The company is undertaking a comprehensive expense reduction initiative, including the renegotiation of all major contracts with landlords.
• Utilities: These costs are part of the general operating structure being reviewed for efficiency.

The non-cash impairment charges of $183.8 million in FY2025 are a stark indicator of asset value reassessment, specifically related to goodwill and underperforming stores. This is a direct result of the strategic review to optimize the store network, which includes the announced closure of 80 to 90 underperforming locations.

The interest expense on net long-term debt settled at $62.9 million for the year. This is a reduction from the prior year's $70.4 million, showing some deleveraging or refinancing benefit, though the company is still focused on strengthening its balance sheet.

The Cost of Goods Sold, which resulted in the 35.4% gross margin, is being addressed through efforts to gain further efficiency with suppliers and distribution channels, alongside structural pricing adjustments planned for fiscal year 2026.

Finance: draft 13-week cash view by Friday.

Leslie's, Inc. (LESL) - Canvas Business Model: Revenue Streams

You're looking at how Leslie's, Inc. brings in money, which is heavily tied to the seasonal nature of pool ownership. Honestly, the top-line number for the most recently completed fiscal year tells a clear story about the current environment.

Full-year Fiscal 2025 Sales totaled $1,242.0 million. This figure represents a decrease of (6.6)% compared to the $1,330.1 million achieved in the prior fiscal year. The fourth quarter of Fiscal 2025 itself brought in sales of $389.2 million, which was a decrease of (2.2)% year-over-year.

The revenue streams are fundamentally built around the aftermarket needs of pool and spa owners, split between do-it-yourself residential customers and professional service providers. The company operates an integrated ecosystem of over 1,000 physical locations and a digital platform to facilitate these sales.

Here's a look at the reported sales performance across the fiscal year:

Period	Sales Amount	Year-over-Year Change
Full Year Fiscal 2025	$1,242.0 million	(6.6)%
Fiscal Q4 2025	$389.2 million	(2.2)%
Fiscal Q1 2025	$175 million	0.7%
Fiscal Q2 2025	$177.1 million	(6)%

The core product categories driving this revenue include the sale of pool and spa chemicals, such as chlorine and algaecides, and the sale of pool equipment and parts, like pumps and filters. While specific revenue percentages for these product lines aren't explicitly broken out in the latest reports, the business model relies on selling this essential assortment of products.

The company is actively focusing on its professional customer base. Leslie's, Inc. is continuing to focus on strengthening its Pro segment. Revenue from pool maintenance and repair services is an implied component of serving the professional segment, though explicit service revenue figures are not detailed separately from product sales in the summary results. The company is working to deliver direct cost reductions of $7-$12 million which they plan to invest back into their customer price value proposition.

You can see the quarterly revenue fluctuations clearly:

• Sales of $175 million in Q1 2025 showed a slight increase of 0.7%.
• Q2 2025 sales were $177.1 million, reflecting a 6% year-over-year decline.
• Non-comparable sales from new stores contributed $3.2 million for the full fiscal year 2025.

Finance: draft 13-week cash view by Friday.