Miniso's Operating-Margin Recovery Could Be Slower Than Expected -- Market Talk

Dow Jones04-09 12:29

0429 GMT - Miniso's operating-margin recovery could be slower than expected, say DBS Group Research's Clement Xu and Mavis Hui in a note. The decline in the Chinese lifestyle retailer's operating margins is likely to slow as its U.S. businesses improve, they say. While a potential rebound could occur next year, it is still later than expected, leading the analysts to lower 2026 and 2027 core profit projections by 10% and 6%, respectively. DBS maintains a buy rating on the stock but cuts the target price to HK$46.00 from HK$52.00 for H shares and to US$24.00 from US$27.00 for ADRs. Miniso's Hong Kong shares fall 1.8% to HK$32.52; ADRs close 4.4% higher at US$16.81. (megan.cheah@wsj.com)

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April 09, 2026 00:29 ET (04:29 GMT)

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