Winmark Corporation, the parent of Play It Again Sports, reported net income for the second quarter ended June 30, 2018 of $7.14 million, $1.73 per share, compared to net income of $5.53 million, or $1.23, a year ago.
For the six months ended June 30, 2018, net income was $14.1 million, or $3.42, compared to net income of $11.1 million, or $2.38, for the same period last year.
Brett D. Heffes, chief executive officer, commented, “The strong start to 2018 has been highlighted by the positive performance of our franchisees. We continue to be pleased with the results of the overall business.”
At June 30, 2018, Winmark had 1,224 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 62 retail franchises have been awarded but are not open. In addition, at June 30, 2018, the company had a lease portfolio of $43.4 million.
