Winmark Corporation, the parent of Play It Again Sports, reported net income for the quarter ended September 29, 2018 of $8.36 million, or $2.01 per share, compared to $5.86 million, or $1.36, in the third quarter of 2017.
For the nine months ended September 29, 2018, net income was $22.5 million, or $5.43, compared to net income of $16.9 million, or $3.84, for the same period last year.
Brett D. Heffes, chief executive officer, commented, “Earnings growth during the third quarter reflected a continuation of the strong operating performance of our businesses throughout the year.”
Winmark Corporation creates, supports and finances business.
At September 29, 2018, Winmark had 1,236 franchises in operation under the brands Plato’s Closet, Once Upon A Child, Play It Again Sports, Style Encore and Music Go Round. An additional 51 retail franchises have been awarded but are not open. In addition, at September 29, 2018, the company had a lease portfolio of $44.5 million.
Photo courtesy Play It Again Sports
