Business · Companies · 1 hr ago
Luckin Coffee adds 2,599 stores as quarterly profit reaches a record
Chinese coffee chain Luckin Coffee added 2,599 stores in the third quarter, bringing its global total to 38,909 by the end of September.
The company reported revenue of 17.891 billion yuan, up 17% from a year earlier, and record non-GAAP net profit of 2.145 billion yuan.
Its company-run stores saw same-store sales fall 11.1%, partly because delivery platforms reduced subsidies after boosting sales a year earlier.
Store-level operating profit at company-run locations rose 55.5%, as delivery costs and the share of orders for delivery fell.
Luckin said its average monthly number of transacting customers reached 123 million, while its cumulative customer total passed 520 million.
The board approved a new one-year, $500 million share buyback plan, saying it reflected confidence in the company’s long-term prospects.
Luckin Coffee added 2,599 stores in the third quarter of 2026, bringing its global total to 38,909.
The company reported non-GAAP net profit of 2.145 billion yuan, its highest quarterly level on record.
Third-quarter revenue rose 17% year on year to 17.891 billion yuan.
Luckin said average monthly transacting customers reached 123 million, up 9.6% from a year earlier.
The board approved a new one-year share buyback plan worth $500 million.
- Who
- Luckin Coffee, the China-based coffee chain.
- What
- It added 2,599 stores and reported record quarterly non-GAAP net profit of 2.145 billion yuan.
- When
- In the third quarter of 2026; the results were announced on November 3.
- Where
- Its stores are in China and overseas; the company had 38,909 locations worldwide at quarter-end.
- Why
- The company said it was expanding to meet growing market demand and pursue long-term growth.
This story does not have two clearly opposing sides.
Luckin added 2,599 stores, including 2,543 in China, including Hong Kong, and 56 overseas.
The company had 38,909 stores worldwide and more than 520 million cumulative transacting customers.
Luckin announced its third-quarter results and said its board had approved a one-year, $500 million share buyback plan.
- Net new stores
- 2,599 in the third quarter
- Global store count
- 38,909 at the end of the third quarter
- Non-GAAP net profit
- 2.145 billion yuan, a quarterly record
- Total revenue
- 17.891 billion yuan, up 17% year on year
- Monthly transacting customers
- 123 million on average, up 9.6% year on year
- Share buyback plan
- $500 million over one year
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What people are saying
We continue to advance our high-quality scale growth strategy and have achieved positive results.
These operating results further validate the company's full-chain digital business model and give us more confidence to seize the long-term growth opportunities in China's coffee market.
Based on this, with the board's approval, we have decided to launch a new one-year share buyback plan worth a total of $500 million.