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. (LKNCY) regularly publishes detailed financial and operating updates that generate a steady flow of company news. Its announcements typically cover unaudited quarterly financial results, annual report filings, and conference call schedules, providing investors with insight into revenues, store network development, and customer activity.
In its quarterly earnings releases, Luckin Coffee reports total net revenues, revenues from self-operated stores, and revenues from partnership stores, along with key operating data such as total number of stores, self-operated and partnership store counts, same-store sales growth for self-operated stores, and average monthly transacting customers. These releases often explain net revenue growth in terms of GMV (gross merchandise value), which the company defines as the transaction amount from the sales of freshly brewed and non-freshly brewed items through self-operated and partnership stores.
News about Luckin Coffee also includes commentary from management on its scale-driven strategy, store expansion, and cost structure, as well as discussions of GAAP and non-GAAP operating income, operating margins, and net income. The company highlights store level operating profit and store level operating margin for self-operated stores, and it breaks down operating expenses into categories such as cost of materials, store rental and other operating costs, depreciation and amortization, delivery expenses, sales and marketing, general and administrative, and store preopening and other expenses.
Investors following LKNCY news can also see announcements about the timing of earnings releases and related conference calls, along with references to filings such as the annual report on Form 20-F. This news page aggregates these updates, allowing readers to review Luckin Coffee’s reported performance, store network evolution, and key metrics over time.
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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