Winmark Corporation Appoints New Board Member

Rhea-AI Summary

Winmark Corporation (Nasdaq: WINA) announces the appointment of Gina De Caro Sprenger to its Board of Directors. With over 30 years in leadership roles within retail, ecommerce, and direct marketing, Sprenger's experience includes her current position as Chief Strategic Retail Officer at Fanatics, Inc., and prior significant roles at Bluestem Brands and Target. Chairman Brett D. Heffes expressed confidence in Sprenger's expertise, highlighting its importance for executing the company's business strategy. Winmark operates 1,264 franchises across five brands as of December 2020.

Positive

• Appointment of Gina De Caro Sprenger expected to enhance board expertise.
• Sprenger's extensive retail and ecommerce experience could strengthen strategic initiatives.

Negative

• Potential concerns about continuity in leadership due to recent management change.

Winmark Corporation (Nasdaq: WINA) announced today that it has named Gina De Caro Sprenger to its Board of Directors. Gina has over 30 years of successful leadership experience in traditional retail, direct marketing and ecommerce. Currently, Ms. Sprenger is the Chief Strategic Retail Officer for Fanatics, Inc., the global leader for licensed sports merchandise. Previously, Ms. Sprenger was the Executive Vice President, Merchandising for Bluestem Brands. She also spent 25 years at Target, most recently as Senior Vice President Merchandising.

Brett D. Heffes, Chairman and Chief Executive Officer, stated “We are pleased to have someone of Gina’s caliber join our Board of Directors. She has extensive experience in merchandising, retail management and ecommerce and has successfully operated in both large company and fast growth environments. Her expertise will be highly valuable as we continue to execute our business plan.”

Winmark Corporation creates, supports and finances business. At December 26, 2020, there were 1,264 franchises in operation under the brands Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. An additional 30 retail 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/20210115005354/en/

FAQ

Who is Gina De Caro Sprenger?

Gina De Caro Sprenger is the new appointee to Winmark Corporation's Board of Directors, with 30 years of leadership experience in retail and ecommerce.

What is Gina Sprenger's background?

Sprenger has served as Chief Strategic Retail Officer at Fanatics and held executive roles at Bluestem Brands and Target.

How many franchises does Winmark Corporation operate?

As of December 2020, Winmark Corporation operates 1,264 franchises across its various brands.

What impact might Sprenger's appointment have on Winmark?

Her extensive experience in merchandising and ecommerce may positively influence Winmark's business strategy and growth.