Miniso has achieved double-digit sales growth and improved China same-store sales during the first quarter.

The variety retailer posted revenue of RMB4.427 billion ($610.1 million) for the quarter ended March 31, up 18.9 per cent year-on-year. The growth was primarily driven by a 16.5 per cent increase in average store count.

Revenue from the Miniso brand rose by 16.5 per cent to RMB4.085 billion, including a 9.1 per cent uplift in mainland China and 30.3 per cent increase in overseas markets. Toy Toy revenue grew 58.9 per cent to RMB339.9 million.

The company noted that Miniso Mainland China has significantly narrowed its same-store sales decline to mid-single digits during the quarter.

On the bottom line, net profit decreased 28 per cent to RMB416.5 million.

Founder and CEO Guofu Ye said the company kicked off the year with the “solid” first quarter.

“Through our steady progress in product mix optimization and strategic store network refinement, we are confident in achieving sustainable and high-quality growth.

“Entering into 2025, we are facing an increasingly volatile macroeconomic environment. Yet, with over ten years’ experience of globalization, unparalleled scale and diversified footprint, we will stay resilient and agile in order to deliver long-term profitable growth,” Ye added.

Group-level store count was 7768 as of March 31, representing a year-over-year increase of 978 net new locations. Miniso had 4275 stores in Mainland China and 3213 in overseas markets, while Toy Toy had 280 locations.

The chain opened its Thai flagship store at Bangkok’s The Mall LifeStore Bangkapi earlier this month.