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Luckin Coffee revenue rises 28.5% as stores top 36,000
The company added 2,714 net new stores in the quarter, but same-store sales at self-operated locations fell 5.3% year over year.
Luckin Coffee said second-quarter 2026 total net revenue rose 28.5% year over year to RMB 15.89 billion, helped by continued expansion and higher customer activity, while operating and net margins narrowed modestly.
The chain grew its store network by 2,714 net new locations to 36,310 sites across China, Singapore, Malaysia, and the United States. Average monthly transacting customers reached a record 112.7 million, up 22.9% from a year earlier, and gross merchandise value climbed 29.8% to RMB 18.4 billion.
Despite the growth, self-operated same-store sales declined 5.3%, with the company pointing to a difficult prior-year comparison tied to elevated delivery platform subsidies. Luckin also reported GAAP operating income increased 22.0% to RMB 2.12 billion and net income rose 16.1% to RMB 1.49 billion.
Luckin repurchased US$195.1 million of shares during the quarter under its US$300 million buyback program. Yahoo Finance also noted that partnership store revenue rose 27.9% and self-operated store revenue increased 26.6%.
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