The Chinese budget retailer’s first-quarter (Q1) profit tripled year-on-year (YoY) to 1.25 billion yuan ($180.9 million), from 416.5 million yuan in the same period last year.
Revenue for the quarter increased 28.5% year-on-year to 5.68 billion yuan. The company said the increase was supported by mid-single-digit comparable sales growth at the group level.
Miniso brand revenue increased 26.6% to 5.17 billion yuan.
Within that, mainland China revenue rose 29.6%, helped by high single-digit same-store sales growth (SSSG). Overseas revenue increased 21.9%, supported by low-single-digit comparable sales growth.
Foreign markets contributed 37.5% of the Miniso brand’s revenue, up from 39% the previous year.
Revenue of Minsio’s sub-brand Top Toy increased 51.4% year-on-year to 514.5 million yuan.
Gross profit for the quarter ended March 31, 2026 increased 25.8% to 2.46 billion yuan.
Gross margin fell to 43.3% from 44.2% in the same period last year.
Operating profit rose 114.3% to 1.52 billion yuan from 709.8 million yuan a year earlier.
Operating margin widened to 26.7%, compared to 16.0% in the prior-year period. The net profit margin increased from 9.4% to 21.9%.
As of March 31, 2026, the total number of Miniso stores amounted to 8,565. That was a net increase of 797 year over year and 80 since the beginning of the year.
The Miniso brand had 8,210 stores, 722 more year-on-year and 59 so far this year.
Of those, 4,593 were in mainland China, up 318 from the previous year, while 3,617 were in overseas markets, up 404.
Top Toy had 355 stores at the end of the quarter, 75 more than a year earlier and 21 more than at the beginning of the year.
Miniso Founder, Chairman and CEO Guofu Ye commented: “As we enter the second half of 2026, we will continue to deepen our globalization and intellectual property strategies, driving high-quality growth through continuous optimization of product mix, upgrading and expanding our store network, and leveraging a multi-dimensional intellectual property matrix. We are moving steadily with purpose toward our long-term goals.”
Miniso CFO Eason Zhang said: “Our sustained top-line excellence underlines our competitive advantage in capturing market share and our unwavering brand influence, driven by another strong SSSG at the group level. Excluding foreign exchange, adjusted operating profit would have increased 14.3% with a margin of 14.7%, underlining the healthy growth of our core business.”
“Miniso’s Q1 2026 profit triples to 1.25 billion yuan” was originally created and published by Retail Insight Network, a brand owned by GlobalData.
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