Miniso Group Holding Ltd. ((MNSO)) has held its Q2 earnings call. Read on for the main highlights of the call.
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The recent earnings call for Miniso Group Holding Ltd. painted a positive picture of the company’s financial health and strategic direction. The overall sentiment was optimistic, driven by strong performance across most segments, particularly in revenue growth and strategic advancements in both domestic and international markets. While some challenges were acknowledged in regions like Latin America, the company’s strategic initiatives and financial health were largely portrayed in a positive light.
Strong Revenue Growth
Miniso Group reported a remarkable revenue growth in Q2, reaching RMB 4.97 billion, which marks a 23.1% increase and exceeds the upper limit of their guidance. This growth was fueled by a 20% increase in the MINISO brand and an impressive 87% growth in the TOP TOY brand, showcasing the company’s successful brand strategies.
Same-Store Sales Improvement
For the first time in four quarters, Miniso achieved positive same-store sales growth, with momentum continuing to accelerate into Q3. This improvement highlights the company’s effective strategies in enhancing store performance and customer engagement.
Expansion of Large Store Strategy
The company has been actively expanding its large store strategy, opening 11 new MINISO LAND stores. Notably, the flagship store on Shanghai Nanjing East Road achieved RMB 100 million in sales within just nine months, underscoring the success of this strategic initiative.
International Market Success
Miniso’s international market strategy has paid off, with overseas market revenue growing by 28.6%. The U.S. market, in particular, saw revenue increase by over 80%, driven by significant improvements in store efficiency and sales per square meter.
Strong Cash Flow and Shareholder Returns
In the first half of 2025, Miniso returned RMB 1.07 billion to shareholders through buybacks and dividends, representing 84% of the adjusted net profit. This demonstrates the company’s commitment to delivering value to its shareholders.
Latin American Market Challenges
Despite overall positive performance, Miniso faced challenges in the Latin American market, where revenue declined due to inventory adjustments and foreign exchange fluctuations. However, retail GMV in the region was on the rise, indicating potential recovery.
Tariff Concerns
There were concerns regarding the impact of U.S. tariffs on Miniso’s operations. However, the company reported no negative effects on margins, suggesting effective management of these external challenges.
Forward-Looking Guidance
Looking ahead, Miniso has provided a strong forward-looking guidance. The company expects continued growth momentum in the second half of the year, forecasting a full-year revenue growth of at least 25%. This optimism is supported by strategic initiatives such as large store expansion and proprietary IP development. The company also plans to distribute 50% of the annual adjusted net profit as dividends, reflecting confidence in sustained financial performance.
In summary, Miniso Group Holding Ltd.’s earnings call highlighted a robust financial performance and strategic advancements, with a positive outlook for future growth. The company’s strong revenue growth, international market success, and commitment to shareholder returns were key takeaways, despite challenges in specific regions. Overall, the sentiment was optimistic, with expectations of continued success in the coming quarters.