February 27, 2009 (FinancialWire) -- Winmark Corp.'s (NASDAQ: WINA) (Current Market Cap: US$58.52 Mil.) board has authorized a 500,000 share repurchase in addition to the roughly 30,000 shares remaining under an existing board authorization. The new authorization is equal to around nine percent of Winmark's current shares outstanding.

Minneapolis-based Winmark franchises retail store concepts that buy, sell, trade and consign merchandise in North America.

The company had 870 franchises in operation under the brands Play It Again Sports, Once Upon A Child, Plato's Closet, Music Go Round as of December 27, 2008. There were 54 territories in operation under the Wirth Business Credit brand.

Winmark said that an additional 45 retail franchises have been awarded but are not open. In addition, at December 27, 2008, the company had loans and leases equal to $47.4 million.

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