Miniso Group Holding Ltd Stock Price, News & Analysis

MINISO Group Holding Limited (NYSE: MNSO) announced the resignation of CFO Steven Saiyin Zhang, effective January 31, 2023, citing personal reasons. He will continue as a senior consultant. Eason Jingjing Zhang, previously vice president of capital markets, will take over as the new CFO on the same date. The board of directors will now consist of five members, including three independent non-executive directors. CEO Guofu Ye expressed gratitude for Steven Zhang's contributions over the past five years, emphasizing the importance of the succession plan designed for a smooth transition.

MINISO (NYSE: MNSO) has achieved significant growth in India, opening around 60 new stores in 2022, reaching a total of approximately 220 stores across more than 120 cities. This growth marks the highest number of new openings since the pandemic. Sales performance surged nearly 80% year-on-year, with notable spikes during Diwali and Black Friday. The retailer plans to continue its expansion strategy, focusing on larger stores in first- and second-tier cities while enhancing its e-commerce presence on Amazon and Flipkart.

MINISO Group Holding Limited (NYSE: MNSO) announced the successful conclusion of its annual general meeting (AGM) held in Guangzhou, China on December 28, 2022. All proposed resolutions for shareholder approval were adopted during the meeting. MINISO, a global value retailer since 2013, is known for its affordable, design-led lifestyle products and has established a significant store network worldwide. The company aims to create an engaging shopping experience, appealing to diverse demographics.

On December 5, MINISO (NYSE: MNSO) launched its #Lifeisforfun! world tour featuring its beloved MINI Family mascots, spreading joy across Mexico, Italy, and Thailand. The tour included festive activities, such as a Penpen mascot driving through Mexico City and interactive games in Florence. This initiative aims to bring happiness and warmth to communities during the holiday season. MINISO's campaign also extended online, with the #MINISOPentaClaus challenge on TikTok generating over 100,000 videos. The company continues to emphasize its mission to uplift consumer experiences globally.

MINISO Group (MNSO) reported its Q1 fiscal 2023 results with revenues of RMB2,772.4 million (US$389.7 million), a 4.5% year-over-year increase. Gross profit surged 35.7% to RMB988.6 million (US$139.0 million), with a gross margin of 35.7%. Operating profit rose by 138.6% to RMB509.5 million (US$71.6 million). Profit for the period reached RMB404.1 million (US$56.8 million), marking a 161.5% increase. The number of stores grew to 5,296, bolstered by robust overseas performance, despite pandemic impacts in China. Adjusted net margin reached 15.1%.

MINISO (NYSE: MNSO) has launched an exclusive collection of blind boxes featuring Sanrio characters in its US stores, generating considerable customer interest since October. The Irvine Spectrum Center location has seen a significant boost in foot traffic due to these offerings. MINISO's blind box sales in the US surged 15-fold in 2022, with the Sanrio Collection becoming the top seller. The retailer plans to enhance in-store experiences and open new locations in Florida and Texas ahead of the holiday season, aiming to attract more Gen Z shoppers.

MINISO (NYSE: MNSO) launched its Lotso collection from Toy Story in Vietnam on October 18, 2022. The launch included various products such as plush toys, pillows, and keychains, which were highly anticipated by customers. Following the launch, stores saw record sales, with the Van Hanh store in Ho Chi Minh breaking sales records on opening day and overall sales in Vietnam increasing nearly twofold. The collection features 16 different items, and dedicated Lotso zones were set up in stores.

MINISO (NYSE: MNSO) celebrated Diwali on October 22, 2022, at its New Delhi store, attracting nearly 200 visitors with floral decorations and festive activities. Sales of perfumes and scented products surged by 27% month-over-month and 47% year-on-year. Currently, MINISO offers 140 scented products tailored to Indian preferences. The company, with over 200 stores in India, aims to strengthen local ties through cultural celebrations and localized product strategies. General Manager Bella Tu emphasized ongoing collaboration with local distributors to explore growth opportunities.

MINISO Group Holding Limited (NYSE: MNSO) will release its September quarter 2022 financial results on November 14, 2022, before U.S. markets open. An earnings conference call is scheduled for 7:00 A.M. Eastern Time on the same day, aimed at discussing the financial results in detail. Investors can join the call via a Zoom link or dial-in numbers available for various regions. MINISO continues to position itself as a global value retailer, offering design-led lifestyle products with a focus on quality and affordability.