Winmark Corporation, the parent of Play It Again Sports and several other franchised operations, reported a modest decline in earnings due to a non-recurring benefit in the year-ago quarter.
Net income for the quarter ended March 28 reached $9.25 million, or $2.50 per share, compared to $9.96 million, or $2.71, a year ago. First-quarter 2025 results included $2.2 million in leasing income from the settlement of customer litigation.
“During the quarter, we introduced two significant enhancements to our business model in partnership with our franchisees,” noted Brett D. Heffes, chair and chief executive officer, in a statement. “We are launching a North American Ad Fund for Plato’s Closet as well as modernizing the point-of-sale offering for our franchisees. These two improvements are intended to provide permanent vehicles to fund ongoing reinvestment in marketing, technology and innovation initiatives on behalf of our franchisees.” For additional details on these announcements, please refer to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 16, 2026.
Winmark’s franchised banners include Plato’s Closet, Once Upon A Child, Play It Again Sports, Style Encore, and Music Go Round. At March 28, 2026, there were 1,383 franchises in operation and over 2,800 available territories. An additional 79 franchises have been awarded but are not open.
Image courtesy Play It Again Sports
