Search Results for: luckin

While Starbucks’ sales in China fell 44%, according to the company’s latest report, Luckin Coffee has gained ground, reporting an impressive 72% jump in net revenue in the latest quarter that ended in June. According to Reuters, the lift in revenue has given the company its first quarterly operating profit and sets the stage for

Luckin Coffee, China’s biggest coffee chain, has recently announced its unaudited financial results for the first quarter of 2022. The figures show promise amid the COVID-19 pandemic, but its continued success is still affected by lockdowns and store closures. With a net revenue increase of 89.5 per cent and same-store sales growth of over 40

Starbucks’ biggest competitor in the Chinese market, Luckin Coffee, has restructured and stabilised its finances after a massive accounting fraud two years ago. The company announced that it is once again a major player in the Chinese market and set the course for future capital raisings. In 2020, the company was delisted from Nasdaq and

Luckin narrowly fell short of posting a profit according to unaudited results. The company has made a dramatic recovery following a close brush with bankruptcy after admitting fraud in 2019,  forcing it to delist from the US stock market.  Under new management, and in sharp contrast to Starbuck’s anaemic results in the region, the company

Chinese coffee company Luckin Coffee reported that its net revenue for the first half of this year increased 106% to RMB 3.1 billion (approximately US $492.9 million) year-on-year. This financial report, announced on October 1st, is the company’s first normalised one since the incident in April 2020, when the company admitted to reporting fraudulent sale

If You had asked me a year ago where Luckin coffee would be today. I would have told you it would be down the drain. With Chinese stocks taking a hammering after regulators in China moved to limit the power of Chinese companies seeking money from foreign investors, you would have thought that Luckin’s days