Leslie’s Poolmart to Buy Back Common Stock

Leslie’s Poolmart, a Chatsworth operator of retail swimming pool supply stores, said it plans to repurchase up to $1 million worth of its common stock a year in occasional open-market transactions.

Brian P. McDermott, president and chief executive, said the company intends to buy back the stock because the current price doesn’t adequately reflect the company’s “recent accomplishments and significant growth prospects.”

The timing of the purchases will depend on stock market conditions, the company said.