Miniso Group (NYSE:MNSO) reported first-quarter revenue of 5.69 billion yuan on Tuesday, exceeding analyst expectations of 5.56 billion yuan.
Core Miniso brand outperforms while TOP TOY sales miss forecasts
Revenue generated by the company’s Miniso brand reached 5.17 billion yuan, ahead of analyst estimates of 4.89 billion yuan.
However, revenue from TOP TOY totaled 514.5 million yuan, below the market forecast of 564.1 million yuan.
Profitability falls short of consensus estimates
Adjusted operating profit for the quarter came in at 755.5 million yuan, missing analyst expectations of 911 million yuan.
Adjusted net income totaled 550.6 million yuan, compared with consensus forecasts of 567 million yuan.
Adjusted earnings per American depositary receipt were 1.80 yuan, below analyst estimates of 2.69 yuan.
Store count trails market projections
At the end of the quarter, Miniso operated 8,210 stores globally under its flagship brand, falling short of analyst expectations for 8,398 locations.