Key Takeaways
Miniso Group Holding Ltd. (MNSO, 9896.HK) projected its first-quarter profit will surge by as much as 200% from a year earlier, signaling robust consumer demand and a strong start to its fiscal year.
The lifestyle retailer said it expects profit for the period ended March 31 to be between RMB 1.228 billion and RMB 1.248 billion. Revenue is forecast to climb approximately 28% to 29% to a range of RMB 5.678 billion to RMB 5.728 billion. The company also anticipates operating profit to increase by 113% to 116% year-over-year.
This bullish forecast stands in contrast to the stock's recent performance, which has seen its share price decline over 26% in the past year. The announcement comes after a U.S. federal judge dismissed a securities lawsuit against the company, removing a legal overhang for investors.
The strong preliminary results suggest Miniso's growth strategy, which includes an aggressive plan to open between 900 and 1,100 new stores in 2024, is delivering significant returns. The majority of this expansion is targeted at higher-revenue overseas markets, a key pillar of the company's growth narrative.
The guidance suggests management's confidence in its operational execution and global expansion. Investors will now await the full detailed earnings report to assess segment performance, margins, and the productivity of its newly opened stores.
This article is for informational purposes only and does not constitute investment advice.
