Winmark Corp., the parent of Play It Again Sports, reported earnings improved 14.9 percent in the second quarter ended July 1.
Earnings reached $10.4 million, or $2.85 a share, against $9.03 million, or $2.54, a year ago. Revenue, which is largely royalties, totaled $20.4 million, against $19.1 million the prior year.
Winmark operates several resale franchises, including Plato’s Closet, Once Upon A Child, Play It Again Sports, Style Encore, and Music Go Round.
“Our year-to-date results reflect positive franchisee performance and Winmark’s continued emphasis on providing exceptional operational support,” commented Brett D. Heffes, chair and chief executive officer.
In the half, earnings rose 2.3 percent to $19.3 million from $18.9 million. Sales were $40.9 million versus $39.1 million.
At July 1, 2023, there were 1,303 franchises in operation and over 2,800 available territories. An additional 70 franchises have been awarded but are not open.
