MINISO revenue skyrockets 28.5% as global footprint reaches 8,565 stores

MINISO Group Holding (NYSE:MNSO) reported a 28.5% increase in revenue for the March quarter, matching capital market expectations as the value lifestyle retailer expanded its domestic and international store networks.

The Guangzhou, China-based company announced Tuesday that its unaudited revenue for the three months ended March 31, 2026, reached RMB5.69 billion ($824.6 million), up from RMB4.43 billion in the corresponding prior-year period.

The top-line performance was supported by steady mid-single-digit same-store sales growth and continued consumer interest in its proprietary intellectual property (IP) design partnerships.

Gross profit advanced 25.8% year-over-year to RMB2.46 billion ($357.2 million), while operating profit rose 114.3% to RMB1.52 billion ($220.6 million), expanding the company's operating profit margin to 26.7%.

Headline net profit for the quarter increased 199.7% year-over-year to RMB1.25 billion ($180.9 million), leaving a net margin of 21.9%.

Adjusted metrics—which isolate core retail metrics from non-operating items and foreign exchange fluctuations—showed steady, normalized development.

Adjusted operating profit excluding foreign exchange expanded 14.3% to RMB838.1 million ($121.5 million), while adjusted net profit excluding foreign exchange increased 8.1% year-over-year to RMB633.1 million ($91.8 million).

Segmentally, the core MINISO brand accounted for RMB5.17 billion of total revenue, ahead of preliminary consensus marks.

Conversely, the company's pop-toy division, TOP TOY, brought in RMB514.5 million, marking a 51.4% year-over-year expansion but softening slightly against initial Wall Street estimates.

The company also continued its physical brick-and-mortar buildout, closing the quarter with a total global base of 8,565 operational units.

The MINISO brand footprint stands at 8,210 storefronts—consisting of 4,593 locations in mainland China and an overseas count of 3,617.

TOP TOY accounted for the remaining 355 locations, scaling up its presence in sub-tier urban markets.

Elsewhere, balance sheet disbursements during the spring reflected an ongoing commitment to returning capital to investors.

Following previous board authorizations, MINISO distributed an aggregate of $115.8 million in cash dividends across April and May 2026.