Luckin Coffee (LKNCY.US) reported a 35.5% YoY revenue of Rmb840mn in Q2, with the total store count surpassing 20,000.
1min read We learned from Zhitong Finance that on Tuesday, July 30, Luckin Coffee (LKNCY.US) announced its 2024 Q2 earnings report. The report showed that the total net revenue in Q2 2024 was Rmb840.3 million, up 35.5% YoY, and set a new quarterly revenue record; operating profit under GAAP was Rmb1.051 billion, with operating margin of 12.5%. In general, the total net revenue of Luckin Coffee in the first half of the year reached Rmb1.468 billion, up 38% YoY.
The average monthly transaction customers in Q2 were 69.7 million, up 61.8% YoY.
Luckin Coffee opened 1371 new stores in Q2, including 5 new stores in Singapore, with a 7.4% MoM increase in store count compared to the end of Q1 2024.
As of the end of July, the total number of Luckin Coffee stores reached 19,961, including 1,3056 self-owned stores and 6,905 franchised stores. In July, the 20,000th store of Luckin Coffee officially opened in Beijing, and the store layout was further deepened.
On the revenue side, the self-owned store revenue of Luckin Coffee in Q2 was Rmb6.277 billion, with self-owned store level profit of Rmb1.351 billion, with a rate of return of 21.5%, and franchise store revenue in Q2 was Rmb1.85 billion.