Luckin Coffee (LKNCY) has released an update.
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Luckin Coffee Inc. reported a strong second quarter in 2024, with net revenues soaring by 35.5% to RMB 8.4 billion, bolstered by the addition of 1,371 new stores, bringing the total to nearly 20,000. The company also saw a 61.8% rise in average monthly transacting customers and an improved GAAP operating margin of 12.5%. Despite negative same-store sales growth, Luckin Coffee continues to expand rapidly and enhance its market presence.
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