Luckin Coffee Books Accelerated Growth and Reveals a New Retail Model
China's fastest-growing coffee enterprise, Luckin Coffee (NASDAQ: LK), surprised investors with another quarter of torrid growth on Wednesday, though bottom-line losses continued. In its second earnings release since its May 2019 IPO, the coffee chain relayed substantial progress on a number of key metrics. Luckin's third-quarter report delighted investors, and the growth stock rose 13% on the trading session. Note that all comparative numbers that follow are presented against those of the prior-year quarter.
Data source: Luckin Coffee. RMB = renminbi.
Image source: Getty Images.
Source Fool.com
