What’s Going On With MINISO Group Stock On Friday?

MINISO Group (NYSE:MNSO) shares are trading sharply lower on Friday after the company reported first-quarter results.

MINISO reported earnings per share of 26 cents, down from 27 cents a year ago. Quarterly sales of $610.06 million (+18.9% year over year) missed the analyst consensus estimate of $624.52 million.

First-quarter gross profit increased 21.1% year over year to $269.8 million. Gross margin was 44.2%, compared to 43.4% in the same period last year, on the back of solid performance from overseas markets and TOP TOY.

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Adjusted net margin was 13.3%, compared to 16.6% in the same period last year. Adjusted EBITDA increased 7.5% year over year, with an adjusted EBITDA margin of 23.4%, compared to 25.9% a year ago.

As of March 31, the total number of stores at the group level reached 7,768, marking a net increase of 978 stores year over year. The number of MINISO stores grew to 7,488, reflecting a year-over-year addition of 858 locations.

Guofu Ye, founder, chairman, and CEO of MINISO, commented, “Entering into 2025, we are facing an increasingly volatile macroeconomic environment. Yet, with over ten years’ experience of globalization, unparalleled scale, and diversified footprint, we will stay resilient and agile in order to deliver long-term profitable growth.”

“Moving forward, we will continue to exert effort on disciplined cost control and moderate budgeting and balance both growth and our commitment to bringing stable and foreseeable returns to shareholders,” said Eason Zhang, CFO of MINISO.

Price Action: MNSO shares are trading lower by 19.1% to $17.85 at last check Friday.

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This article What’s Going On With MINISO Group Stock On Friday? originally appeared on Benzinga.com