Miniso’s Stock Falls 4% Post Earnings Report Amid Rising Expenses

An earnings report from Miniso Group Holding, a major lifestyle retail chain in China, revealed a 22% revenue increase to 11.5 billion yuan in the first half of the year. Despite this growth, the company’s stock dropped 4.4% on the Nasdaq due to concerns over profit margins and escalating expenses. Net profit rose by 5.6% to 956.6 million yuan, supported by gains in Yonghui Superstores and an AI partnership, although this was offset by a significant rise in selling and distribution costs to 3.0 billion yuan. Miniso, founded in 2013, has rapidly expanded its footprint to 8,309 stores globally, with…