Winmark’s Q3 profit jumps 51 percent
Winmark Corp. (Nasdaq: WINA), which franchises retail store brands such as Play It Again Sports, said its third-quarter net income climbed by 51 percent from the prior year.
Net income rose to $2.7 million, or $0.51 a share, in the quarter ended Sept. 25, from $1.8 million, or $0.33 a share, in the year-ago period.
Quarterly revenue increased 12 percent to $11 million from $9.8 million in the previous year. It posted gains in royalties, leasing income, merchandise sales and franchise fees.
“The positive trends in our business continued during the third quarter,” Winmark CEO John L. Morgan said in a statement. “Our strong financial performance included the further strengthening of our balance sheet.”
--Compiled by Wendy Geister
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