Low-Cost Retailer MINISO Q1: Revenue Jumps 36.7%, Surpasses 6,000 Stores For The First Time & More
Portfolio Pulse from Shivani Kumaresan
MINISO Group Holding Limited (NYSE:MNSO) reported a 36.7% increase in Q1 FY24 revenue, reaching RMB3.79 billion. Revenue from China rose 34.7% Y/Y to RMB2.49 billion. Gross profit surged 60.2% Y/Y with a gross margin of 41.8%. Operating income and adjusted EBITDA also saw significant increases of 54.7% and 52.8%, respectively. MINISO surpassed 6,000 stores, totaling 6,115, and beat earnings per ADS estimates at $0.28. The company has $875 million in cash and expects continued sales growth and margin optimization.
November 21, 2023 | 12:20 pm
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POSITIVE IMPACT
MINISO reported strong Q1 FY24 results with significant revenue and profit growth, surpassing 6,000 stores, and beating earnings estimates. The company's positive outlook for sales and margins may drive investor confidence.
The positive earnings report, with higher-than-expected revenue and profit growth, as well as the expansion of store count, typically leads to increased investor confidence and could result in a short-term positive impact on the stock price. The company's optimistic outlook for the upcoming quarter further supports this potential impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100