Luckin Coffee’s Revenue Surges Amidst Global Expansion Plans
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Luckin Coffee (LKNCY) has released an update.
Luckin Coffee’s third-quarter results for 2024 show a robust financial performance, with a 41.4% year-on-year revenue increase reaching over RMB10 billion, alongside significant operational expansion with 1,382 new store openings. The company achieved a GAAP operating margin of 15.3%, reflecting improved profitability, and continues to focus on global expansion, particularly in Singapore. Despite challenges in same-store sales, Luckin remains a dominant player in the Chinese coffee market, driven by increased customer transactions and a strategic focus on innovation and efficiency.
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