- MINISO’s Revenue for March 2024 quarter reached 3.72 Billion Yuan.
- The company’s gross profit margin was at 43.4% for the same quarter.
- The adjusted Ebitda margin and adjusted net margin stood at 25.9% and 16.6% respectively.
- As at the end of the March quarter 2024, the count of MINISO stores grew by 3.4% quarter on quarter, resulting in 6,630 stores.
- The adjusted Ebitda and net income for the quarter were 965.3 million yuan and 616.9 million yuan respectively.
- Expectations for the June quarter 2024 are healthy sales growth year-over-year due to improved store-level performance and further expansion of the store network.
- The revenue growth of 26% year-over-year reaching RMB 3.7 billion for the March quarter 2024 is attributed mainly to a 19% increase in the average store count and a 9% growth in same-store sales.
- The gross margin for the March Quarter attained a high of 43.4%, surpassing the peak season of December 2023’s quarter. This is attributed largely to a strong momentum from overseas markets and performance of TOP TOY.
- The company’s robust financial and operational performance displays the resilience and relevance of MINISO’s business model and product offerings.
- A significant 92% year-over-year increase in revenue was realized from directly operated markets which have been growing over 80% for four consecutive quarters.
Miniso on Smartkarma
Analyst coverage of Miniso on Smartkarma by Eric Wen has been positive, with recommendations to BUY the stock. In one report, the successful IP strategy driving China sales led to a raised target price of US$34 per ADS. Another report focused on Miniso‘s strong revenue and net income, especially from North and Latin Americas, resulting in a maintained BUY rating with a target price of US$31 per ADS. Additionally, the analysis highlighted the growth potential supported by increased foot traffic during the Chinese New Year holiday, maintaining the stock as a BUY with a target price of US$33 per ADS.
Eric Wen‘s reports also mentioned Miniso‘s Investor Day showcasing growth plans through the Chinese supply chain for fast turnaround, expected revenue, and non-GAAP net income growth. Management’s reassurance of future growth prospects and refutation of short seller claims were positively received by analysts, reinforcing the recommendation to BUY Miniso stock with a target price of US$31. Overall, the sentiments from the analyst coverage on Smartkarma suggest a favorable outlook for Miniso‘s performance and growth trajectory.
A look at Miniso Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 4 | |
| Growth | 5 | |
| Resilience | 5 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
MINISO Group Holding, the value retailer known for its aesthetically pleasing and affordable products, appears to have a positive long-term outlook based on the Smartkarma Smart Scores. With high scores in Growth, Resilience, and Momentum, the company seems well-positioned for future success. Its strong focus on innovation and expansion opportunities bode well for sustained growth in the coming years.
Furthermore, MINISO’s above-average scores in Dividend and Resilience indicate that the company is not only growing rapidly but also capable of weathering economic uncertainties. Investors may view this combination of factors as a promising sign for potential returns on their investments in the company over the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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