Why is Miniso stock sliding 6% today?

Miniso's stock is sliding 6% today following a significant earnings miss in its Q2 2026 results. The company reported EPS of ¥-0.94, which was far below the consensus expectation of ¥1.95, and revenue of ¥5.75 billion, which fell short of the estimated ¥5.81 billion. The company's CEO, Guofu Ye, acknowledged that overseas performance had fallen short of expectations, with profit contribution from international operations collapsing from 35-40% in 2023 to just 10-15% in the first half of 2026.

The earnings miss has triggered a flurry of analyst actions, with HSBC downgrading Miniso from Buy to Hold and Citi initiating coverage at Neutral, both reflecting skepticism about the pace of the overseas recovery. The broader market backdrop also contributed to the stock's decline, with major indices down slightly. The stock is now trading near its 52-week low and has shed over 58% over the past 12 months, highlighting persistent concerns about margin compression and the company's ability to sustain its international expansion strategy profitably.

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