MINISO Stock Up Ahead of Q3 Earnings: Retail’s Cheerful
Wall Street analysts expect the company to post earnings per share (EPS) of $0.31 on revenues of $631.04 million.
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FollowShares of Chinese retailer MINISO Group Holdings Inc. ($MNSO) were up nearly 7% on Wednesday afternoon (1:40 pm ET) ahead of the company's third-quarter earnings and the holiday season, lifting retail sentiment.
Wall Street analysts expect the company to post earnings per share (EPS) of $0.31 on revenues of $631.04 million. The company has missed EPS estimates twice out of the last four quarters. For the last quarter, its EPS stood at $0.26, missing estimates.
Retail sentiment has turned 'bullish' (72/100) from 'neutral' (50/100) a month ago. Message volumes have inched up to 'extremely high' from 'high.'
China-based MINISO is a seller of lifestyle and pop toy products. Its brands include the namesake brand of Miniso, and Top Toy.
"The year of 2024 marks the first year of our five-year strategic plan. I am pleased to see that in the past six months, all of our businesses have made firm progress in accordance with the five-year strategic plan and our performance has met the expectations at the beginning of the year," Guofu Ye, founder, chairman, and CEO of MINISO, said in a statement at the time of its last results.
Earlier this month, the company said it would host an extraordinary general meeting of its shareholders on Jan. 17 for the purposes of seeking approval for its proposed acquisition of shares of Yonghui Superstores Co.
In September, a wholly-owned PRC subsidiary had entered into share purchase agreements with certain existing shareholders of Yonghui to buy an aggregate of 29.4% of the issued and outstanding shares of Yonghui, according to a company statement.
MINISO had more than 6,868 stores as of June 30, 2024.
MINISO stock is down 6% year-to-date. <
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