Phoenix-based pool supplies retailer Leslie’s closes 80 locations amid major losses

Leslie’s Inc., the publicly traded Phoenix-based pool and spa care retailer, said Feb. 17 it has shuttered 80 stores across the U.S. as it tries to overcome major financial issues.

In early December, the company announced it would conduct a comprehensive review of its entire asset base and during that time, it decided it would need to close 80 underperforming stores and a distribution center in Illinois, which was the second warehouse the company shuttered in less than a year.

Jason McDonell, the CEO of Leslie’s (Nasdaq: LESL), said this week that 64 of those stores closed in less than seven days from the time the comprehensive review was announced on Dec. 2.

“The speed of execution not only minimized business disruption but also allowed us to capture cost savings more quickly than projected, providing immediate benefit to our financial performance,” McDonell said during a Feb. 17 earnings call after the company released its latest quarterly financial results.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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