Leslie’s reports Q4 adjusted EPS 9c vs. 47c last year

Reports Q4 revenue $389.21M, consensus $371.72M. Comparable sales decreased 6.5% in Q4. “We delivered fourth quarter sales and adjusted EBITDA above the high end of our previously established guidance range and are today announcing the closure of 80-90 underperforming stores and one distribution center as we work with speed and urgency to improve Leslie’s (LESL) operations and establish a clear path to financial recovery,” said Jason McDonell, CEO of Leslie’s. “In addition, we will continue to focus diligently on rightsizing the cost base of our business by reducing inventory 10% year over year and delivering direct cost reductions of $7-$12 million which we will invest back into our customer price value proposition.”