Winmark Corp., the parent of Play It Again Sports, reported flat earnings in both the third quarter and nine months ended September 28.
For the third quarter, net income reached $11.12 million, or $3.03 per share, against $11.15 million, or $3.05, a year earlier. For the nine months, earnings totaled $30.37 million, or $8.29, compared with $30.46 million, or $8.40, the prior year.
Results during the quarter and nine months were impacted by the company’s decision in May 2021 to run-off its leasing portfolio.
Winmark’s resale banners include Plato’s Closet, Once Upon A Child, Play It Again Sports, Style Encore and Music Go Round. At September 28, there were 1,343 franchises in operation and over 2,800 available territories. An additional 82 franchises have been awarded but are not open.
