Yahoo Finance MINISO (MNSO) Focuses on Expansion, Unveils 20 New Stores
MINISO Group Holding Limited MNSO expanded its presence in the United States by unveiling over 20 new stores across more than 20 states. The company's robust expansion in the world's largest economy includes entering 10 new states in the current year — Michigan, Oregon, South Carolina, Arizona, Connecticut, Louisiana, Maine, Georgia, Indiana and Oklahoma.
In October 2023, MINISO opened five new stores, including one in Castleton Square Mall, the largest shopping center in Indiana. This marked the company’s inaugural store in Indiana, covering an area of approximately 3,500 square feet.
MNSO’s expansion efforts extend to the central region of the United States, where the brand opened its first stores in Louisiana (at the Mall of Louisiana), Baton Rouge and Michigan (at the Great Lakes Crossing), the state's largest indoor outlet shopping center and entertainment venue.
The company continues to strengthen its presence in key shopping destinations, securing prime retail spaces in the Fashion Show in Nevada and Northridge Fashion Center in California. The Fashion Show retail space, known as one of the largest shopping malls in the United States, spreads across nearly 3,000 square feet.
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What’s More?
MINISO plans to further expand its footprint by entering two new states, North Carolina and New Hampshire, before fiscal 2024. These strategic locations align with its trend of selecting major areas, such as shopping malls, business districts, transportation hubs and community centers, to enhance brand visibility and attract a diverse customer base.
As of June 2023, MINISO operated around 5,800 stores worldwide, with more than 2,200 stores located overseas. The U.S. market has become a vital directly operated market for the company, with the Gross Merchandise Value (GMV) per store nearly doubling from the pre-COVID levels. The company has consistently set new sales records since the grand opening of its global flagship store at Times Square in New York in May.
MINISO plans to open at least 15 more stores in the United States by the end of fiscal 2024, as part of its continued expansion strategy. The company is also pursuing a brand upgrade policy, introducing concepts like Super Store, Super IP and Super Product, and showcasing these initiatives at its global flagship store in Times Square.
Additionally, MNSO has rolled out products featuring popular IPs such as Barbie, Snoopy, Disney 100 and Sanrio as part of its strategy to offer aesthetically pleasing and functional products to American consumers.
MINISO’s focus on store expansion and product introductions is likely to fuel its growth. Shares of this Zacks Rank #2 (Buy) company have risen 170.1% in the past year compared with the industry’s growth of 5.5%.
Other Stocks to Consider
A few other top-ranked stocks in the same space are American Eagle Outfitters Inc. AEO, Abercrombie & Fitch Co. ANF and Deckers Outdoor Corporation DECK.
American Eagle Outfitters is a specialty retailer of casual apparel, accessories and footwear. It sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for American Eagle Outfitters’ current fiscal-year earnings and sales indicates growth of 36.1% and 2.4%, respectively, from the previous year’s reported figures. AEO has a trailing four-quarter average earnings surprise of 43.2%.
Abercrombie & Fitch is a specialty retailer of premium, high-quality casual apparel. The company currently carries a Zacks Rank #2. ANF delivered a significant earnings surprise in the last reported quarter.
The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal-year sales implies growth of 10.3% from the previous year’s reported number. ANF has a trailing four-quarter average earnings surprise of 724.8%.
Deckers Outdoor is a leading designer, producer and brand manager of innovative, niche footwear and accessories. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Deckers’ current fiscal-year earnings and sales indicates growth of 20.8% and 11.1%, respectively, from the previous year’s reported figures. DECK has a trailing four-quarter average earnings surprise of 26.3%.
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Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report
American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report
MINISO Group Holding Limited Unsponsored ADR (MNSO) : Free Stock Analysis Report
