Luckin Coffee’s revenue exceeds forecasts as it chases Starbucks in China
13 November 2019 - 16:50
Mumbai — Luckin Coffee, the chain that is trying to overtake Starbucks in China, reported better-than-expected revenue in its second set of quarterly results since going public.
The Xiamen, China-based company had net revenue of 1.54-billion yuan (R3.28bn) for the September quarter, according to a filing on Wednesday, compared with analyst estimates of 1.47-billion yuan. Net loss widened to 531.9-million yuan from 484.9-million yuan a year earlier...
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