Miniso Group Likely to Deliver Solid 1Q Results, Nomura Says -- Market Talk

Dow Jones04-26

0540 GMT - Miniso Group is likely to deliver solid 1Q results, Nomura analysts say in a research report, as they raise their target price for the company's ADRs to US$33.20 from US$31.10 with an unchanged buy rating. The Chinese retailer's domestic business should regain solid momentum from March to deliver positive growth in same-store sales, the analysts say. Its overseas markets continued to be on solid expansion path in 1Q, with new store additions of around 100, the analysts say. Miniso's earnings growth should quicken in 2Q, thanks to a lower base and strong intellectual-property products, the analysts add. ADRs closed 1.6% lower at US$22.22 on Thursday. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 26, 2024 01:40 ET (05:40 GMT)

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Miniso's earnings growth should quicken in 2Q, thanks to a lower base and strong intellectual-property products, the analysts add. ADRs closed 1.6% lower at US$22.22 on Thursday. 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