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Luckin Coffee reports surge in quarterly revenue

Published 13/11/2019, 11:13
Luckin Coffee reports surge in quarterly revenue
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LKNCY
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(Reuters) - China's Luckin Coffee Inc (O:LK) reported a more than six-fold increase in quarterly revenue on Wednesday, as the Starbucks Corp (O:SBUX) rival rapidly opened stores and pulled in new customers.

Net loss attributable to the company's shareholders widened to 531.86 million yuan (£59.43 million) in the third quarter ended Sept. 30, from 484.93 million yuan a year earlier.

Total net revenue rose 540% to 1.54 billion yuan.

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