Play It Again Sports parent company, Winmark Corp., reported a slight gain in earnings in the second quarter and six months ended June 28.
Net income for the quarter reached $10.6 million, or $2.89 per share, compared to net income of $10.43 million, or $2.85, in the year-ago period. For the six months, net income was $20.6 million, or $5.60, compared to net income of $19.25 million, or $5.26, for the same period last year.
Winmark’s franchised banners also include Plato’s Closet, Once Upon A Child, Style Encore, and Music Go Round.
“Sales performance for our franchise partners across all brands increased during the quarter,” said company Chair and CEO Brett D. Heffes. “It is a dynamic time for the resale industry. Winmark has and will continue to make significant investments in operations, technology, marketing, and innovation to enhance our leadership position in the industry.”
As of June 28, there were 1,371 franchise stores in operation, and over 2,800 available territories remained. An additional 77 franchises were awarded but remain unopened.
Image courtesy Play It Again Sports
