Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Reporting

v3.25.3
Segment Reporting
 12 Months Ended
Oct. 04, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 16—Segment Reporting

We manage our business activities on a consolidated basis and operate as a single operating segment. We derive our revenue in the United States by providing pool related goods and services to our customers through a variety of channels. The accounting policies of our operating segment are the same as those that are described in Note 2 – Summary of Significant Accounting Policies.

Our chief operating decision maker (“CODM”) is our chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated net income to assess financial performance and allocate resources. The CODM does not review assets in evaluating the results of our operating segment, and therefore such information is not presented.

The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM (in thousands):

 

 

 

Year Ended

 

 

 

October 4, 2025

 

 

September 28, 2024

 

 

September 30, 2023

 

Sales

 

$

1,241,915

 

 

$

1,330,121

 

 

$

1,451,209

 

Less:

 

 

 

 

 

 

 

 

 

      Cost of merchandise and services sold(1)

 

 

802,268

 

 

 

853,331

 

 

 

902,986

 

      Store labor and fringe

 

 

125,854

 

 

 

122,937

 

 

 

124,645

 

      Merchant fees

 

 

49,295

 

 

 

52,916

 

 

 

58,956

 

      Direct store expense

 

 

41,993

 

 

 

40,531

 

 

 

39,811

 

      Marketing

 

 

33,537

 

 

 

36,429

 

 

 

37,987

 

      Information technology

 

 

31,764

 

 

 

30,337

 

 

 

29,991

 

      Other segment expense(2)

 

 

143,233

 

 

 

136,523

 

 

 

154,654

 

      Impairment

 

 

183,826

 

 

 

—

 

 

 

—

 

      Interest expense

 

 

62,919

 

 

 

70,395

 

 

 

65,438

 

      Income tax expense

 

 

4,196

 

 

 

10,101

 

 

 

9,499

 

Segment net (loss) income

 

$

(236,970

)

 

$

(23,379

)

 

$

27,242

 

 

 

(1) Included within cost of merchandise and services sold and other segment expenses is depreciation and amortization expense of $19.3 million, $18.1 million, and $17.8 million in fiscal years 2025, 2024, and 2023, respectively, as described in Note 2, Summary of Significant Accounting Policies.

(2) Included within other segment expense are items related to corporate payroll and bonus expense and general and regional administrative expenses.