Play It Again Sports had revenues of $222 million across its franchisees in 2009, down 5.5% from $235 million in 2008, according to the form 10-K filing for its parent, Winmark Corp. Play It Again closed 29 franchises and opened six sores in 2009 and closed the year with 341 locations.
For the years ended 2009, 2008 and 2007, Play It Again Sports contributed royalties and franchise fees of $9.1 million, $9.8 million and $10.4 million, respectively, to Winmark. The 10-K was recently filed with the Securities & Exchange Commission.
Winmark last week also reported its earnings vaulted 57.1% to $2.2 million, or 42 cents a share, in the first quarter ended March 27, from $1.4 million, or 26 cents per share, in Q1 2009. Revenues rose 6.4% to $9.8 million from $9.3 million. Royalties climbed to $6.4 million from $5.6 million, offsetting a decline in leasing income to $2.5 million from $2.7 million and a drop in merchandising sales to $494,700 from $625,400.
Besides Play It Again Sports, Winmark’s franchises include Plato’s Closet, Once Upon A Child, and Music Go Round.
