Winmark Corporation (NASDAQ: WINA) has reported its financial results for the year ended December 30, 2023, showing a net income of $40,178,100, or $11.04 per diluted share. This compares to a net income of $39,424,900, or $10.97 per diluted share, in 2022. The company's fourth quarter 2023 net income was $9,716,800, or $2.64 per share diluted, down from $10,176,600, or $2.86 per share diluted, for the same period in 2022. Revenues for the year ended December 30, 2023, were $83,243,500, up from $81,410,800 in 2022.
Brett D. Heffes, Chair and Chief Executive Officer of Winmark Corporation, commented on the 2023 results, stating, "Our 2023 results reflected positive performance by our franchise partners; however, growth was lower in the second half of the year."
Heffes also highlighted the company's focus, saying, "Winmark - the resale company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award-winning resale franchises."
Winmark Corporation, known for its resale franchises including Plato’s Closet®, Once Upon a Child®, Play It Again Sports®, Style Encore®, and Music Go Round®, had 1,319 franchises in operation and over 2,800 available territories as of December 30, 2023. Additionally, 71 franchises have been awarded but are not yet open.
Following the announcement, the company's shares experienced a -1.4% movement and are currently trading at a price of $394.52.
The company's full 8-K submission is available here.
