Why Miniso Group Stock Skyrocketed Today
Shares of Miniso Group (NYSE: MNSO) were climbing today after the Chinese discount retail chain posted better-than-expected results in its third-quarter earnings report.
As of 2:55 p.m. EST, the stock was up 34.7%.
Miniso operates more than 5,000 stores total, including over 3,000 in China and the remainder in other countries. While the China business has struggled amid crushing COVID-19 lockdowns, the international business has picked up the slack and drove total revenue in the quarter up 4.5% to $389.7 million, which beat estimates at $383.4 million.
Source Fool.com
