Winmark Corp., the parent of Play It Again Sports, reported profits were about flat in the third quarter and slightly ahead for the nine months ended September 27.
Earnings in the quarter reached $11.14 million, or $3.02 per share, compared to net income of $11.12 million, or $3.03, a year ago. For the nine months, net income was $31.69 million, or $8.61, compared to net income of $30.37 million, or $8.29, for the same period last year.
Winmark’s Board of Directors also approved the payment of a special dividend to shareholders of $10.00 per share, totaling $35.6 million, based on the current number of shares outstanding.
The dividend will be paid on December 1, 2025, to shareholders of record at the close of business on November 12, 2025. It is anticipated that Winmark will finance the special dividend with cash on hand. Future dividends will be subject to Board approval.
The Board also approved a quarterly cash dividend to shareholders. The quarterly dividend of $0.96 per share will be paid on December 1, 2025, to shareholders of record at the close of business on November 12, 2025.
Winmark operates several resale franchises, including Plato’s Closet, Once Upon A Child, Play It Again Sports, Style Encore, and Music Go Round. At September 27, there were 1,377 franchises in operation and over 2,800 available territories. An additional 77 franchises have been awarded but are not open.
Image courtesy Winmark Corp.
