Since our last Winmark (WINA) article, the stock has done quite well, substantially outperforming the S&P 500.
(Source: Seeking Alpha)
Although a lot of the good news is already priced in, Q3 results seem to indicate that Winmark still has more room to run.
(Source: WY Capital, 10-Qs)
Leasing recovery
In Q2, the leasing business was performing terribly, with revenues down over 30% YOY due to the decrease in the number of customers installing equipment.
However, business improved substantially in Q3, with the decline slowing to around 5%. Although management still acknowledged