Winmark Corporation Announces Signing of Style Encore Franchise Agreements
MINNEAPOLIS - May 16, 2013 - (BUSINESS WIRE) - Winmark Corporation (Nasdaq: WINA) announced today that it has awarded eight franchise agreements for its new women’s resale concept, Style Encore™.
John Morgan, Chairman and CEO commented, “We are thrilled with the response to Style Encore and are excited with the progress we have made since announcing the concept four months ago. Our initial store design, operational guidelines and marketing campaigns are complete and we are ready to open our first franchised stores in 2013. Our goal is to build the leading brand in the women’s resale market.”
Winmark Corporation creates, supports and finances business. At March 30, 2013, there were 983 franchises in operation under the brands Plato's Closet®, Play It Again Sports®, Once Upon A Child®, and Music Go Round® and an additional 60 retail franchises had been awarded but were not open. In addition, at March 30, 2013, the Company had a lease portfolio equal to $35.8 million.
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.
John L. Morgan