Winmark Corp., the parent of Play It Again Sports, announced net income for the quarter ended June 26 of $8.94 million, or $2.33 per share, compared to net income of $5.06 million, or $1.33, in 2020.

For the six months ended June 26, 2021, net income was $18.3 million, or $4.74 per share, compared to net income of $12.4 million, or $3.21, for the same period last year.

“Our business model is thriving in the current retail environment,” commented Brett D. Heffes, chairman and chief executive officer.

Winmark also announced that its Board of Directors had approved the payment of a quarterly cash dividend to shareholders. The quarterly dividend of 45 cents per share will be paid on September 1, 2021 to shareholders of record on the close of business on August 11, 2021. Future dividends will be subject to Board approval.

Winmark’s Board further approved a 400,000 share increase to its existing share repurchase authorization. This increase represents approximately 11 percent of Winmark’s current shares outstanding.

Winmark, the Resale Company, is a national franchising business focused on sustainability and small business formation. Its resale franchises include Plato’s Closet, Once Upon A Child, Play It Again Sports, Style Encore, and Music Go Round. On June 26, 2021, there were 1,266 franchises in operation and over 2,000 available territories. An additional 36 franchises have been awarded but are not open.

Photo courtesy Play It Again Sports