- Winmark reported fantastic Q1 results, but no one noticed because this is an underfollowed stock.
- Franchises had a 99% renewal rate in 2020 even with the pandemic shutting down stores.
- Leasing is declining as a percentage of overall sales.
- Winmark raised its dividend by 80%. I expect more hikes and maybe more buybacks because leasing is declining. Leasing is capital intensive.
- Winmark started selling some items online through three of its franchisees in 2020. It also offers in-store pickup.
For further details see:
Winmark Reports Blowout Earnings, But No One Cares