Winmark Corporation Announces Development of New Resale Concept
MINNEAPOLIS, Jan. 15, 2013 (GLOBE NEWSWIRE) -- Winmark Corporation (Nasdaq:WINA), the parent company of resale franchise concepts Plato's Closet®, Play It Again Sports®, Once Upon A Child®, and Music Go Round®, announced today that it is developing an additional retail concept focused on the resale of women's apparel and accessories.
John Morgan, Chairman and Chief Executive Officer stated, "There has been a major change in the consumer acceptance of gently used merchandise. Winmark Corporation, with nearly a billion dollars a year in sales of these products, has taken a logical next step in providing a retail store selling gently used merchandise to women. Customers that will look for ways to intelligently manage budgets and to keep up with practical and fashionable clothing and accessories will find our new concept the perfect shopping experience. Women's apparel is an ideal category to further enhance our family of franchised resale brands, and we are excited to share this news with our employees, shareholders and current franchisees."
Winmark Corporation creates, supports and finances business. At December 29, 2012, there were 968 franchises in operation under the brands Plato's Closet®, Play It Again Sports®, Once Upon A Child®, and Music Go Round®. An additional 65 retail franchises have been awarded but are not open. In addition, at September 29, 2012, the Company had a lease portfolio of $34.1 million.
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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 including statements with respect to our ability to finance the growth of our leasing and franchising businesses for the foreseeable future. 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 results may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements. Any statements of intention to franchise should not be construed as an offer to sell a franchise. No franchises will be sold until a Franchise Disclosure Document has been prepared and delivered to a prospective franchisee and all necessary state registrations have been obtained in compliance with applicable law.
CONTACT: John L. Morgan 763/520-8500