Luckin Coffee's Breakneck Expansion Comes at a Price
Luckin Coffee (NASDAQ: LK) issued its first earnings report since its May 2019 debut on the public markets Wednesday morning. The technology-driven retail chain, which aims to usurp Starbucks (NASDAQ: SBUX) as China's largest coffee network (by number of units) by the end of 2019, posted a wide loss in its second quarter of 2019. Let's review the quarter's details below, as well as management's outlook. Note that all comparative numbers are presented against those of the prior-year quarter.
Data source: Luckin Coffee. RMB=renminbi.
In Luckin's earnings press release, CEO Jenny Zhiya Qian extolled the company's rapid growth while focusing on the improvement in store-level economics:
Source Fool.com
