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An announcement from Luckin Coffee ( (LKNCY) ) is now available.
Luckin Coffee announced its financial results for the fourth quarter and fiscal year 2024, reporting significant growth in revenues and store openings. The company achieved a 36.1% year-over-year increase in fourth-quarter revenues, totaling RMB9,613.3 million, alongside a notable expansion in its store network, ending the year with 22,340 stores. The strategic partnership with Hextar Industries Berhad to enter the Malaysian market signifies Luckin Coffee’s expanding international footprint. The company’s operational efficiency improved, as evidenced by the increase in GAAP operating margin to 10.4% in the fourth quarter, highlighting its strengthened market position and ability to capitalize on China’s growing coffee demand.
More about Luckin Coffee
Luckin Coffee Inc. is a prominent player in the coffee industry, known for its extensive network of self-operated and partnership stores. Primarily focused on the Chinese market, the company offers high-quality coffee products and has recently expanded its market presence internationally.
YTD Price Performance: 10.25%
Average Trading Volume: 1,548,545
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $8.64B
See more data about LKNCY stock on TipRanks’ Stock Analysis page.
