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Winmark Corporation revenue grows to $73.3 million in FY19
02 Mar '20
1 min read
Pic: Winmark Corporation/ Style Encore
Winmark Corporation, a franchisor of value-oriented retail stores, announced its net income for fiscal 2019 to $32.2 million compared to $30.1 million in FY18. Net income in Q4 that ended on December 28, 2019 was $8.5 million compared to $7.7 million in same quarter prior year. Revenue for full FY19 was $73.3 million up from $72.5 million in FY18.
"Our increased operating results in both the fourth quarter and full year 2019 were due to the improved performance of our core franchising business," Brett D Heffes, chief executive officer, said in a press release.
As of December 28, 2019, Winmark had 1,256 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 38 retail franchises have been awarded but are not open, as company reported.
Fibre2Fashion News Desk (JL)
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