
MNSO: Large-format stores fuel rev., overseas boosts profit; Is IP retail set for tailwinds?
Same-store sales accelerated QoQ


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Same-store sales accelerated QoQ



The following are the minutes of MINISO's Q3 FY25 earnings call organized by Dolphin Research. For an interpretation of the financial report, please refer to "MINISO: Revenue 'Money Printing Machine', Spending 'Paper Shredder'."



On the afternoon of November 21st, Beijing time, $Miniso(MNSO.US) $MNSO(09896.HK) Miniso (9896.HK) (MNSO.N) released its Q3 2025 earnings. By closing inefficient small stores and focusing on larger ones, the company's same-store revenue growth further expanded after turning positive in the second quarter. However, a concerning aspect is the increased expenses associated with store openings in the United States during the third quarter, which impacted the release of profits...


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