Miniso Posts Strong 3Q Revenue Growth on Affordability Appeal
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Miniso Group Holding Ltd. reported double-digit revenue growth in the third quarter, as the Chinese retailer of home decor, cosmetics and personal care products benefited from consumer demand for affordable goods amid an uncertain economic environment.
The Guangzhou-based company’s revenue rose 19.3% to 4.52 billion yuan ($644.5 million) in the three months ended September, it said in a statement Friday. That came slightly under the average analyst estimate for 20% growth. The company reported a record high 44.9% in gross margin, compared with 41.8% a year ago.