Luckin Coffee Q2 revenue jumps 28.5% as global store network surpasses 36,000 locations

CHINA – Luckin Coffee has reported a 28.5% year-on-year increase in net revenue for the second quarter of 2026, supported by aggressive store expansion and growing customer numbers despite a decline in same-store sales. 

The Chinese coffee chain generated revenue of RMB15.86 billion (US$2.33 billion) during the three months ended June 30, 2026, as its global network expanded beyond 36,000 outlets. 

The company said average monthly transacting customers reached a record 112.7 million during the quarter, reinforcing its position as one of the world’s largest coffee chains. 

Revenue from self-operated stores increased to RMB11.56 billion (US$1.70 billion), while partnership stores generated RMB3.67 billion (US$539.5 million). 

Although same-store sales declined by 5.3%, compared with growth of 13.8% in the corresponding quarter of 2025, the addition of 2,714 new stores helped offset the slowdown and contributed to overall revenue growth. 

Most of the new outlets were opened in mainland China and Hong Kong, which accounted for 2,668 locations. The company also added seven stores in Singapore, 31 in Malaysia and eight in the United States. 

Luckin Coffee co-founder and chief executive officer Dr Jinyi Guo said the company’s expansion strategy continued to deliver strong results. 

“Our second quarter performance reflects the strength of our high-quality, scaled growth strategy and the resilience of our business model. We continue to translate growing consumer demand into market share gains, with our store network surpassing 36,000 locations and cumulative transacting customers approaching 500 million,” Guo said. 

He added that continued investment in expansion, product development and customer engagement had strengthened the company’s competitive position. 

“Through industry-leading store expansion, continuous product innovation and deeper customer engagement, we further reinforced Luckin Coffee’s market leadership, underpinned by our differentiated digital capabilities and strong brand equity,” he said. 

“As China’s coffee market continues to evolve, we remain confident in our ability to capture the significant growth opportunities ahead while creating long-term value for our shareholders.” 

Total operating expenses increased by 29.6% to RMB13.7 billion (US$2.02 billion), reflecting the company’s rapid expansion strategy. Operating expenses represented 86.6% of total revenue, compared with 85.5% in the same period last year. 

Luckin Coffee also continued its share repurchase programme, buying back 48.9 million Class A ordinary shares for a total consideration of US$195.1 million during the quarter. The programme, introduced in April 2026, authorises share repurchases of up to US$300 million. Luckin Coffee Q2 revenue jumps 28.5% as global store network surpasses 36,000 locations 

CHINA – Luckin Coffee has reported a 28.5% year-on-year increase in net revenue for the second quarter of 2026, supported by aggressive store expansion and growing customer numbers despite a decline in same-store sales. 

The Chinese coffee chain generated revenue of RMB15.86 billion (US$2.33 billion) during the three months ended June 30, 2026, as its global network expanded beyond 36,000 outlets. 

The company said average monthly transacting customers reached a record 112.7 million during the quarter, reinforcing its position as one of the world’s largest coffee chains. 

Revenue from self-operated stores increased to RMB11.56 billion (US$1.70 billion), while partnership stores generated RMB3.67 billion (US$539.5 million). 

Although same-store sales declined by 5.3%, compared with growth of 13.8% in the corresponding quarter of 2025, the addition of 2,714 new stores helped offset the slowdown and contributed to overall revenue growth. 

Most of the new outlets were opened in mainland China and Hong Kong, which accounted for 2,668 locations. The company also added seven stores in Singapore, 31 in Malaysia and eight in the United States. 

Luckin Coffee co-founder and chief executive officer Dr Jinyi Guo said the company’s expansion strategy continued to deliver strong results. 

“Our second quarter performance reflects the strength of our high-quality, scaled growth strategy and the resilience of our business model. We continue to translate growing consumer demand into market share gains, with our store network surpassing 36,000 locations and cumulative transacting customers approaching 500 million,” Guo said. 

He added that continued investment in expansion, product development and customer engagement had strengthened the company’s competitive position. 

“Through industry-leading store expansion, continuous product innovation and deeper customer engagement, we further reinforced Luckin Coffee’s market leadership, underpinned by our differentiated digital capabilities and strong brand equity,” he said. 

“As China’s coffee market continues to evolve, we remain confident in our ability to capture the significant growth opportunities ahead while creating long-term value for our shareholders.” 

Total operating expenses increased by 29.6% to RMB13.7 billion (US$2.02 billion), reflecting the company’s rapid expansion strategy. Operating expenses represented 86.6% of total revenue, compared with 85.5% in the same period last year. 

Luckin Coffee also continued its share repurchase programme, buying back 48.9 million Class A ordinary shares for a total consideration of US$195.1 million during the quarter. The programme, introduced in April 2026, authorises share repurchases of up to US$300 million. 

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