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Resalecompany Winmark is a franchisor that owns concepts including Plato's Closet, Play It Again Sports, and Once Upon a Child. The company has tripled the return of the S&P 500 since its IPO, and delivered an annualized return of 18% over the past five years. I've been a shareholder in companies.
By this, I mean further reducing low-margin resale revenue and driving a higher level of services, including those directly associated with AI and automation. Our results continue to be impacted by the year-to-year decline of resale revenues, which was 90 basis points of the 4.5% Our financial focus is on improving the business mix.
Cloud infrastructure and IT outsourcing organic revenue declined 7%, an improvement from double-digit declines we saw in the prior three quarters due to a significant resale transaction delivered in the quarter. Modern Workplace organic revenue declined year to year in the mid-teens impacted by resale revenue, which was down 30%.
billion in cash to our shareholders through dividends and stock buybacks. Industrial resales were 962 million. In fiscal '24, we expect industrial resales to be down low single digits year on year. In fiscal 2023, operating profit grew by 9% year on year, and our free cash flow grew 8% year on year to $17.6 We returned $13.5
We will maintain our disciplined approach to investing capital to enhance the long-term value of the company, which includes returning capital to our shareholders through both dividends and share repurchases on a consistent basis. Obviously, resale inventory was incredibly tight. Thank you to the entire D.R. billion to 1.5
million annual resale transactions in time. Agent retention remains high as our principal agent quarterly retention was 97%, a number we have consistently reached since becoming a publiccompany in April 2021. And in Q3, we saw the second highest agent retention quarter as a publiccompany. million to 5.5
By relying on artificial intelligence (AI) and machine learning to find attractive values and price them for resale, and operating an online marketplace, Opendoor thinks it can improve the process and offer a better product. Why it's not happening -- yet Opendoor became a publiccompany when interest rates were rock bottom.
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