Miniso Q3 Earnings, Revenue Improve

(RTTNews) - MINISO Group Holding Ltd. (MNSO), a global value retailer of design-led lifestyle products, Tuesday, reported higher earnings for the third quarter of 2023 on soaring foot traffic and transaction value in its domestic stores along with an increase in the pace of store openings due to a bullish outlook. Revenue also increased by 26.2%.

Third-quarter earnings increased to RMB 470.9 million or $68.6 million from RMB 92.67 million or $14.61 million for the same quarter of last year reflecting an increase of 408.2% year-over-year.

Adjusted earnings increased to RMB 483.0 million or $70.3 million from RMB 110.69 million or $17.46 million for the same period of prior year, 336.3% increase.

Adjusted earnings per ADS were RMB 1.52 or $0.22, compared to RMB 0.36 a year ago.

Revenue increased to RMB 2.95 billion or $430.2 million from RMB 2.34 billion or $369.28 million for the same period last year.

Monday, during the regular trading hours, shares of Miniso closed at $17.33 up 4.46% or $0.74 on the New York Stock Exchange.