LKNCY Stock Recent News

Luckin Coffee is a fast-growing company with over 10,000 stores in Beijing and locations in 300+ Chinese cities, showing strong revenue growth. Despite intense competition and declining margins, Luckin Coffee remains a growth company with a current ratio of 1.33, indicating financial flexibility. Trading at a P/E ratio of 16.09, Luckin Coffee is attractively priced for growth investors, with expected revenue of $4.66 billion this year.

Luckin Coffee Inc. (OTCPK:LKNCY) Q2 2024 Earnings Conference Call July 30, 2024 8:00 AM ET Company Participants Alicia Guo - Head of IR Jinyi Guo - Chairman & CEO Jing An - CFO Conference Call Participants Operator Ladies and gentlemen, welcome to Luckin Coffee's Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode, during management's prepared remarks and there will be a question-and-answer session to follow.

Second Quarter Net Revenues Increased 35.5% to RMB8,402.6 Million Profitability Improved From Last Quarter with GAAP Operating Margin of 12.5% More than 1,370 Net New Store Openings; Ended Quarter with Nearly 20,000 Stores BEIJING, July 30, 2024 (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (OTC: LKNCY) today announced its unaudited financial results for the three months ended June 30, 2024. SECOND QUARTER 2024 HIGHLIGHTS 1 Total net revenues in the second quarter were RMB8,402.6 million (US$1,156.2 million), representing an increase of 35.5% from RMB6,201.4 million in the same quarter of 2023.

China's Luckin Coffee has overtaken Starbucks as the country's top coffee retailer. That's a remarkable rebound from less than four years ago, when the company filed for bankruptcy.

China's coffee market is booming, and it is now likely the world's biggest. After doubling its store count in 2023, Luckin holds a market-leading position in China, with its nearest competitors, Starbucks and Cotti Coffee, struggling to catch up. Luckin's Gross Margin of 55% meant that despite the high SG&A costs associated with rapid expansion, it remained profitable.

Luckin Coffee stock price was little changed in the pre-market session after the company published its first-quarter results. It was trading at $21.13 in New York, where it ended the day on Monday.

Starbucks (NASDAQ: SBUX) and Luckin Coffee stock prices have come under intense pressure this year amid rising robusta coffee prices and demand. SBUX shares crashed to a low of $88.50 on Thursday, its lowest level since October 2023.

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BEIJING, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (OTC: LKNCY) will release its fourth quarter and full year 2023 financial results before the U.S. market open on Friday, February 23, 2024.