Winmark Corporation Announces Addition of Play It Again Sports Franchised Locations

Rhea-AI Summary

Winmark Corporation (NASDAQ: WINA) has announced the signing of franchise agreements to open eleven new Play It Again Sports locations in North America. These new stores will be established in the Twin Cities, St. Cloud, Duluth, Minnesota, Superior, Wisconsin, and Grand Forks, North Dakota. The company will also reclaim development rights for additional territories in Minnesota and Sioux Falls, SD. Winmark focuses on franchising and sustainability, with a total of 1,276 franchises and over 2,800 available territories as of March 26, 2022.

Positive

• Expansion of franchise agreements with eleven new Play It Again Sports locations enhances market presence.
• Regaining development rights in Minnesota and Sioux Falls allows for future growth opportunities.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Winmark Corporation (Nasdaq: WINA) announced today that it has signed franchise agreements to add an additional eleven Play It Again Sports locations to its existing base of 272 stores across North America.

The stores, located in the Twin Cities region as well as in St. Cloud and Duluth, Minnesota, Superior, Wisconsin and Grand Forks, North Dakota, had been previously subject to an agreement allowing for their operation separate from Winmark’s franchise system. Additionally, Winmark will regain the ability to develop additional Play It Again Sports territories in Minnesota as well as Sioux Falls, SD.

“We are excited to welcome these stores into the Play It Again Sports franchise system,” stated Brett D. Heffes, Chairman and Chief Executive Officer.

Winmark - the Resale Company®, is a nationally recognized franchising business focused on sustainability and small-business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At March 26, 2022, there were 1,276 franchises in operation and over 2,800 available territories. An additional 44 franchises have been awarded but are not open.

This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220614005957/en/

Brett D. Heffes

763/520-8500

Source: Winmark Corporation