Why Miniso Group Stock Popped Today
Shares of Miniso Group (NYSE: MNSO) were climbing today after the Chinese retailer issued a promising update on recent store openings. As of 3:07 p.m. EST on Wednesday, the stock was up 11.7%.
The opening of a Miniso store in India. Image source: Miniso.
In a press release this morning, the company said it had opened its 100th store since its IPO last month, a blistering expansion rate at a time when much of the global retail sector is still reeling from the COVID-19 pandemic. Miniso has expanded rapidly, not just in China -- where it opened 54 stores on Oct. 1 ahead of the Golden Week shopping festival -- but also in Europe. It recently opened stores in Paris and across Spain, where it now has 16 locations after opening four this month.
Source Fool.com
