Welcome to our dedicated page for Luckin Coffee news (Ticker: LKNCY), a resource for investors and traders seeking the latest updates and insights on Luckin Coffee stock.
Luckin Coffee Inc. (OTC: LKNCY) is a China-based company that has revolutionized the coffee industry with a technology-driven retail network. Founded in 2017, Luckin Coffee offers high-quality, convenient, and affordable coffee products to its customers, aiming to become a world-class coffee brand integrated into daily life. In 2023, the company saw significant growth in revenue, store count, and customer base, with a focus on expanding its presence and delivering exceptional products and services.
Luckin Coffee (LKNCY) reported strong Q4 2024 financial results with total net revenues of RMB9,613.3 million (US$1,317.2 million), up 36.1% year-over-year. The company's store network expanded to 22,340 locations, with 997 net new store openings in Q4.
Key Q4 highlights include improved same-store sales growth for self-operated stores at -3.4% (up from -13.1% in Q3), GAAP operating margin expansion to 10.4%, and average monthly transacting customers reaching 77.8 million (+24.5% YoY). Store-level operating profit margin increased by 610 basis points to 19.6%.
For full-year 2024, Luckin achieved total net revenues of RMB34,474.8 million (US$4,723.9 million), representing 38.4% YoY growth. The company added 6,092 new stores throughout the year and expanded internationally, forming a strategic partnership to enter the Malaysian market.
Luckin Coffee (OTC: LKNCY) has announced it will release its Q4 and full-year 2024 financial results before U.S. market opens on February 20, 2025. The company will host a conference call on the same day at 8:00 AM Eastern Time (9:00 PM Beijing Time) to discuss the results and take questions.
Investors can access the call through various toll-free numbers provided for the United States, Mainland China, and Hong Kong participants. A replay of the call will be available through February 27, 2025. The earnings release, presentation slides, and webcast recording will be accessible on Luckin Coffee's Investor Relations website at investor.lkcoffee.com.
Luckin Coffee (LKNCY) reported strong Q3 2024 results with total net revenues reaching RMB10,180.8 million (US$1,452.1 million), up 41.4% year-over-year. The company added 1,382 net new stores, ending the quarter with 21,343 stores. GAAP operating income was RMB1,557.5 million with a 15.3% margin. Average monthly transacting customers increased 36.5% to 79.8 million. However, same-store sales growth for self-operated stores declined 13.1%. The company continues international expansion, particularly in Singapore where it operates 45 stores, and is evaluating opportunities in the United States.
Luckin Coffee (OTC: LKNCY) announced it will release its third quarter 2024 financial results before U.S. market open on Wednesday, October 30, 2024. The company will host a conference call at 8:00 am Eastern Time (8:00 pm Beijing Time) on the same day to discuss the results and take questions. The earnings release, slides, and webcast will be available on the company's Investor Relations website. A replay of the call will be accessible through November 6, 2024.
Luckin Coffee (OTC: LKNCY) reported Q2 2024 financial results showing net revenues increased by 35.5% to RMB8,402.6 million (US$1,156.2 million). The company achieved a GAAP operating margin of 12.5%, an improvement from the previous quarter.
Key highlights include:
- 1,371 new stores opened, including five in Singapore, ending the quarter with 19,961 stores.
- Average monthly transacting customers surged 61.8% to 69.7 million.
- Revenues from self-operated stores rose 39.6% to RMB6,277.0 million (US$863.7 million).
- However, same-store sales growth for self-operated stores declined by 20.9%.
- GAAP operating income was RMB1,050.7 million (US$144.6 million), down from RMB1,172.8 million the previous year.
The company attributes the decrease in margins to reduced average selling prices and market competition. Luckin Coffee's expansion and increased store footprint aim to enhance market share and product quality.
Luckin Coffee (OTC: LKNCY) has announced it will release its second quarter 2024 financial results on July 30, 2024, before the U.S. market opens. The company will hold a conference call at 8:00 am Eastern Time (8:00 pm Beijing Time) on the same day to discuss the results. Shareholders can submit questions for the earnings call through a dedicated platform. The call will be accessible via various toll-free and international numbers, with a replay available until August 6, 2024. A live and archived webcast of the conference call will also be available on Luckin Coffee's investor relations website.
On May 23, 2024, Luckin Coffee (OTC: LKNCY) announced changes to its Board of Directors. Each director's term is two years, with reappointment possible upon term expiration. The terms of Jinyi Guo, Wenbao Cao, Feng Liu, Yang Cha, Sean Shao, Weihao (Michael) Chen, Shaoqiang (Gary) Liu, Jun Liu, and Qianli Liu expired in May 2024. Yang Cha chose not to seek reappointment but will remain an external strategic advisor. The other directors were reappointed. The Board now includes nine directors, with specific members assigned to the Audit, Compensation, and Nominating and Corporate Governance Committees.
Luckin Coffee Inc. announced a strong first quarter for 2024 with a 41.5% increase in net revenues, a 103.2% rise in average monthly customers, and 2,342 new store openings, reaching a total of 18,590 stores. However, same-store sales for self-operated stores declined by 20.3%. The Company's GAAP operating loss was RMB65.1 million compared to an operating income of RMB678.4 million in the same quarter of 2023. Non-GAAP operating income decreased to RMB5.0 million from RMB730.5 million in Q1 2023.
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