Winmark Corporation, a US-based franchisor of value-oriented retail stores, reported decrease in its total revenue to $12.4 million in second quarter (Q2) FY20 ended on June 27, 2020, compared to revenue of $17.4 million in same period last year. Company’s net income dropped from $7.3 million in Q2 FY19 to $5.0 million in the reported period.
Winmark Corporation, a US-based franchisor of value-oriented retail stores, reported decrease in its total revenue to $12.4 million in second quarter (Q2) FY20 ended on June 27, 2020, compared to revenue of $17.4 million in same period last year. Company's net income dropped from $7.3 million in Q2 FY19 to $5.0 million in the reported period.#
“Our franchisee’s performance improved throughout the quarter, as they have proven extremely resilient during the pandemic. While store operations are not fully back to pre-Covid levels, substantial progress has been made in the past 90 days and we are pleased with the overall performance of the company,” Brett D Heffes, chief executive officer at Winmark, said in a press release.
Winmark Corporation, a US-based franchisor of value-oriented retail stores, reported decrease in its total revenue to $12.4 million in second quarter (Q2) FY20 ended on June 27, 2020, compared to revenue of $17.4 million in same period last year. Company's net income dropped from $7.3 million in Q2 FY19 to $5.0 million in the reported period.#
The year-over-year (YoY) revenues for the six months period for FY20 were $30.9 million compared to $35.7 million in same period last year. Net income YoY slipped to $12.3 million ($14.5 million).
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