MissFresh Limited (NASDAQ:MF), which is one of the leaders in the neighbourhood retail space in China, was in the focus of investors yesterday after the company made a key announcement with regards to its flower sales.
The company announced that its flower sales during the Qixi Festival, popularly known as the ‘Valentine’s Day’ of China, soared by a staggering 467%. The Qixi Festival was held on August 14. It goes without saying that it was a major announcement from the company and the investors seemed to have been suitably excited. The stock went up by as much as 6% yesterday after the news emerged.
The senior manager of the company’s flower business spoke about the performance. The senior manager, Bo Qi, stated that flowers were sold out during the course of the festival in all the 17 cities in China in which the company operates its flower business.
However, in this regard, it should also be noted that MissFresh seemed to have anticipated the massive demand for flowers on the day and had started taking in advanced orders from August 5. The growth in the online sales of flowers went up by as much as 467% on a month to month basis.