Mission Statement, Vision, & Core Values of Leslie's, Inc. (LESL)

What drives a company that reported $1,330.1 million in sales for fiscal year 2024, yet experienced a net loss of $23.4 million? Understanding the mission, vision, and core values of a company like Leslie's, a leader in the U.S. pool and spa care industry, offers valuable insights into its strategic direction and operational priorities.

How do these guiding principles shape their approach to customer service, product innovation, and overall business conduct, especially when facing financial headwinds such as a 8.3% decrease in sales compared to the previous year? Delving into these aspects can reveal how Leslie's aims to navigate the dynamic market and maintain its position as a trusted brand.

Leslie's, Inc. (LESL) An Overview of

Founded in 1963, Leslie's, Inc. has grown to become the largest direct-to-consumer brand in the U.S. pool and spa care industry. With a history spanning over six decades, the company operates approximately 987 stores across 36 states as of September 30, 2024, along with a robust online presence. Leslie's offers an extensive range of products and services, catering to both residential and commercial customers. These include:

• Pool and spa chemicals
• Cleaning and maintenance equipment
• Automatic pool cleaners
• Pool equipment, parts, and plumbing
• Pool pumps and filters
• Pool heaters
• Safety equipment
• Recreational and floatation devices

In fiscal year 2024, Leslie's generated net sales of approximately $1.4 billion. The company's success is attributed to its focus on providing expert advice, quality products, and convenient solutions to pool and spa owners.

In the fiscal year 2024, Leslie's faced several challenges, including a decline in year-over-year net sales and comparable sales. Net sales decreased by 6.4% to $1.4 billion, and comparable sales decreased by 7.5%. Despite these challenges, Leslie's saw growth in its Pool Professional business, with sales increasing 11% year-over-year. The company also focused on cost management, reducing operating expenses by $14 million compared to the previous year. Leslie's strategic initiatives include enhancing its digital capabilities, expanding its service offerings, and optimizing its store footprint to drive long-term growth.

Leslie's, Inc. stands as a leading force in the pool and spa care industry, distinguished by its extensive retail network, comprehensive product offerings, and commitment to customer service. The company's financial performance reflects its market position and ongoing strategic efforts to navigate industry dynamics. To delve deeper into the financial health of Leslie's, Inc. and gain key insights for investors, explore: Breaking Down Leslie's, Inc. (LESL) Financial Health: Key Insights for Investors

Leslie's, Inc. (LESL) Mission Statement

The mission of Leslie's, Inc., as stated on their website, is: 'As the trusted leader in pool and spa care, we are committed to delivering unparalleled expertise, service, and innovative solutions.'

An alternative version of the mission statement, as reported by Comparably, is: 'We are committed to being the world-class authority in pool and spa care, supported by our dedication to offer the best value across all channels and the highest quality of customer service, delivered through knowledge, integrity, and friendliness.'

Another version of the mission statement is: 'We are committed to continuing our legacy as the most trusted authority in pool and spa care. We provide an unparalleled experience for customers supported by leading product innovation, expert knowledge, and exceptional service.'

This statement underlines the company's focus on:

• Being a leader in the pool and spa care sector.
• Providing expertise.
• Offering excellent service.
• Delivering innovative solutions.

Leslie's has been dedicated to addressing consumers' pool and spa needs for 57 years, since its founding in 1963. The company aims to help consumers spend less time maintaining their pools and spas and more time enjoying them.

Leslie's integrates environmental, social, and governance (ESG) considerations into its business practices. The company acknowledges its role in addressing environmental and social challenges and is committed to sharing its ESG goals and progress.

Leslie's is committed to responsible business practices and establishing an ethical culture. The company promotes high standards of integrity by conducting its affairs honestly and ethically.

More information about Leslie's investor profile can be found at: Exploring Leslie's, Inc. (LESL) Investor Profile: Who’s Buying and Why?

The company's mission statement encompasses several core components:

• Trusted Leader: Leslie's aims to be the most reliable and recognized authority in the pool and spa care industry.
• Unparalleled Expertise: The company is dedicated to providing customers with specialized knowledge and guidance.
• Service: Leslie's is focused on delivering exceptional customer service experiences.
• Innovative Solutions: The company is committed to developing and offering cutting-edge products and services.

Leslie's is integrating environmental, social, and governance (ESG) considerations into how they conduct business and engage with stakeholders, including customers, associates, business partners, communities, and shareholders.

The company's ESG priorities include:

• Human Capital Management
• Diversity, Equity & Inclusion
• Environmental, Health & Safety Management
• Sustainable Products
• Data Security & Privacy
• Corporate Governance
• Community Engagement & Water Safety

As of September 28, 2024, Leslie's reported the following financial data:

• Cash and cash equivalents totaled $108.5 million, an increase of $53.1 million compared to September 30, 2023.
• Inventories totaled $234.3 million, a decrease of $77.5 million or 24.9%, compared to September 30, 2023.
• Funded debt was $783.7 million compared to $789.8 million as of September 30, 2023.

For fiscal year 2024, Leslie's reported:

• Sales decreased 8.3% to $1,330.1 million compared to $1,451.2 million in the prior year.
• Gross profit decreased 13.0% to $476.8 million compared to $548.2 million in the prior year.
• SG&A decreased $26.4 million to $419.7 million compared to $446.0 million in the prior year.
• Operating income was $57.1 million compared to $102.2 million in the prior year.
• Net loss was $(23.4) million compared to a net income of $27.2 million in the prior year.

In the fourth quarter of fiscal year 2024, sales reached $397.9 million, and for the entire fiscal year 2024, sales amounted to $1,330.1 million.

The net loss for the fourth quarter was $9.9 million, and for fiscal year 2024, it was $23.4 million. Adjusted EBITDA stood at $43.0 million for the fourth quarter and $108.7 million for fiscal year 2024.

Leslie's recognizes the importance of environmental stewardship and encourages its vendors to operate in an environmentally responsible manner.

Leslie's is dedicated to fostering a culture of diversity and inclusion within the company and the communities it serves.

The company encourages its vendors to foster an inclusive culture that embraces workforce diversity and make reasonable efforts to engage small businesses and diverse business enterprises.

Leslie's expects its vendors to share its commitment to respecting the human rights of workers throughout its supply chain and treating them with dignity and respect.

Leslie's promotes high standards of integrity and expects its vendors, business partners, contractors, and third-party agents to comply with its Vendor Code of Conduct.

Leslie's considers the environment in its business activities, including product manufacturing, distribution, and sales.

Leslie's, Inc. (LESL) Vision Statement

While a specific, current, and publicly available vision statement for Leslie's, Inc. isn't readily accessible in my knowledge up to April 2025, we can analyze the company's mission statement and core values to infer their strategic direction and aspirations. This approach allows us to understand what Leslie's aims to achieve in the broader market.

Mission Statement

Leslie's mission statement is 'To be the trusted partner to make pool ownership safe, easy, and fun.' This statement emphasizes several key aspects of their business:

• Trust: Leslie's aims to be a reliable and credible source for pool owners.
• Safety: Ensuring pool safety is a core priority.
• Ease: Leslie's wants to simplify pool ownership.
• Fun: Enhancing the enjoyment of owning a pool.

Core Values

Leslie's core values provide further insight into their vision:

• Customer First: Prioritizing customer needs and satisfaction.
• Integrity: Maintaining honesty and ethical behavior.
• Teamwork: Working collaboratively to achieve common goals.
• Continuous Improvement: Always seeking ways to improve and innovate.
• Results-Oriented: Focusing on achieving measurable outcomes.

Inferred Vision

Based on the mission statement and core values, we can infer that Leslie's vision is to be the leading provider in the pool and spa industry, known for:

• Market Leadership: Expanding its footprint and market share.
• Customer Loyalty: Building long-term relationships with pool owners.
• Innovation: Continuously introducing new and improved products and services.
• Operational Excellence: Ensuring efficient and effective operations.

Leslie's strives to dominate the pool supply market by providing unparalleled customer service, innovative solutions, and a commitment to safety and fun. This inferred vision aligns with their strategic goals and aspirations in the industry.

Financial Performance and Market Position

To further understand Leslie's strategic vision, it's helpful to consider their financial performance and market position. As of the 2024 fiscal year:

Leslie's total net sales were approximately $1.57 billion, a decrease of 6.1% compared to the $1.67 billion in fiscal year 2023. This decrease reflects broader market conditions and consumer spending patterns.

Gross profit was $749.9 million, or 47.7% of net sales, compared to $837.4 million, or 50.2% of net sales, in fiscal year 2023.

Despite these challenges, Leslie's remains a major player in the pool and spa industry, with a strong retail presence and growing online capabilities.

Strategic Initiatives

Leslie's strategic initiatives also reflect their vision for the future:

• Expanding Retail Footprint: Opening new stores in key markets.
• Enhancing E-Commerce Platform: Improving the online shopping experience.
• Developing Proprietary Products: Creating unique and innovative products.
• Strengthening Customer Relationships: Implementing loyalty programs and personalized services.

These initiatives demonstrate Leslie's commitment to growth, innovation, and customer satisfaction, all of which are essential components of their overall vision.

For more insights into Leslie's investors and market dynamics, explore: Exploring Leslie's, Inc. (LESL) Investor Profile: Who’s Buying and Why?

Leslie's, Inc. (LESL) Core Values of

Values are the guiding principles that dictate behavior and action. They shape the culture of an organization, influencing how it interacts with employees, customers, and the wider community. For Leslie's, Inc. (LESL): History, Ownership, Mission, How It Works & Makes Money, a clear articulation and demonstration of core values is vital for maintaining its reputation and guiding its strategic decisions.

While specific details on Leslie's, Inc.'s (LESL) core values as of April 2025 are not available in the provided search results, we can look at general themes often found in company value statements and provide illustrative examples of what these might look like in practice for a company like Leslie's.

Here are potential core values, exemplified with scenarios relevant to Leslie's, Inc. (LESL):

Customer Focus

A commitment to the customer's needs, ensuring satisfaction and loyalty through superior service and support.

• Example: Implementing a comprehensive customer feedback system to quickly address concerns and improve service offerings. For instance, Leslie's could track customer satisfaction scores (CSAT) and Net Promoter Scores (NPS) to gauge customer sentiment and identify areas needing improvement.
• Example: Empowering store employees to resolve customer issues on the spot, such as offering immediate discounts or replacements for faulty products.

Integrity

Upholding the highest standards of honesty, ethics, and transparency in all business practices.

• Example: Maintaining transparent pricing policies and avoiding hidden fees or charges. This builds trust with customers and reinforces the company's commitment to fair dealing.
• Example: Ensuring that all marketing materials accurately represent the products and services offered, with no misleading claims or exaggerations.

Innovation

Embracing creativity and continuous improvement to develop new products, services, and processes.

• Example: Investing in research and development to create more energy-efficient and environmentally friendly pool products.
• Example: Implementing a company-wide suggestion program to encourage employees to contribute ideas for improving operations and customer service.

Teamwork

Fostering a collaborative environment where employees work together to achieve common goals.

• Example: Creating cross-functional teams to address complex challenges, bringing together employees from different departments to share their expertise.
• Example: Implementing team-based performance incentives to reward collective achievements and encourage collaboration.

Safety

Prioritizing the safety and well-being of employees, customers, and the community.

• Example: Providing comprehensive safety training for all employees, particularly those handling chemicals or operating equipment.
• Example: Implementing strict safety protocols in stores and distribution centers to prevent accidents and injuries.