Leslie’s Poolmart Loses $1.73 Million in Quarter
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Leslie’s Poolmart, a Chatsworth-based retailer of swimming pool supplies, reported a $1.73-million fourth-quarter loss, in contrast with a year-earlier loss of $1.23 million.
The loss in the quarter that ended Dec. 31 came despite a 21% jump in sales, to $11.7 million from $9.71 million.
For all of 1992, Leslie’s earned $2.15 million, more than double its $983,000 profit in the previous year. Its revenue totaled $96.3 million, a 17% increase from $82.6 million in 1991.
Despite the increase in its full-year profit, Leslie’s said its operating income declined in 1992 because of cold weather last summer and price cutting. Its 1991 net income had included a one-time, $1.78-million charge relating to the 1988 acquisition of the company by an investor group.
Leslie’s, now publicly held, recently acquired a major competitor, Sandy’s Pool Supply, adding 14 retail stores to its chain of 144 stores.
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