Earnings Alerts

Miniso (MNSO) Earnings: 3Q Revenue Trails Estimates Despite Robust Financial Performance and Increased Store Count

  • MINISO’s third-quarter revenue was 3.72 billion yuan, missing the estimate of 4.37 billion yuan.
  • The adjusted Ebitda margin stood at 25.9%.
  • There was an increase in MINISO’s store count to 6,630, a 3.4% rise from the previous quarter.
  • Adjusted Ebitda was 965.3 million yuan, falling short of the 1.04 billion yuan estimate.
  • Adjusted net income was 616.9 million yuan, less than the expected 702.8 million yuan.
  • MINISO claims that the total revenue saw an increase of 26% year over year, primarily due to a 19% rise in average store count and a 9% growth in same-store sales.
  • Their revenue from directly operated markets increased by 92%, achieving growth of over 80% for four consecutive quarters.
  • CFO Eason Zhang stated that the gross margin for the March Quarter reached 43.4%, higher than the peak season of last December Quarter, which he attributes to a sustained strong momentum from overseas markets and TOP TOY.
  • There are currently 18 buy recommendations, 0 hold recommendations, and 0 sell recommendations for MINISO’s stock.

Miniso on Smartkarma

Analyst coverage of Miniso on Smartkarma indicates positive sentiment towards the company’s performance and growth potential. Eric Wen, a prominent analyst, has published several research reports highlighting key factors driving Miniso‘s success. In one report, Wen notes that Miniso‘s revenue is expected to exceed consensus in the upcoming quarters due to strong sales of the Chiikawa series and an efficient IP sales strategy, resulting in a raised target price of US$34 per ADS.

In another report, Wen emphasizes Miniso‘s strong revenue and non-GAAP net income, particularly from North and Latin Americas, despite a soft operating margin due to new store openings. The analyst maintains a bullish stance on the stock, albeit with a slightly reduced target price of US$31 per ADS. Overall, the analyst coverage on Smartkarma suggests that Miniso‘s growth prospects remain robust, with ongoing positive developments supporting a buy recommendation for investors.


A look at Miniso Smart Scores

FactorScoreMagnitude
Value2
Dividend4
Growth5
Resilience5
Momentum5
OVERALL SMART SCORE4.2

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, a value retailer known for its aesthetically pleasing and affordable products, demonstrates a promising long-term outlook based on the Smartkarma Smart Scores. With strong scores in Dividend, Growth, Resilience, and Momentum, the company is positioned for continued success. A high score in Growth indicates significant potential for expansion and market performance, while top marks in Resilience and Momentum underscore its ability to weather challenges and maintain positive market traction.

Investors eyeing Miniso can take confidence in its sound fundamentals and positive outlook, as reflected in the Smartkarma Smart Scores. The company’s focus on value, coupled with high scores in Dividend, Growth, Resilience, and Momentum, suggests a robust future ahead. With its commitment to offering good-quality, affordable products, Miniso is well-positioned to capitalize on market opportunities and deliver sustainable returns 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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