Luckin Coffee net revenue surges 41.2% in Q1

Revenues from self-operated stores also increased by 41.5%.

Luckin Coffee saw its total net revenues increase by 41.2% year-on-year (YoY) to $1.2b (RMB8.87b) in Q1 2025, according to its latest financial report.

Revenues from self-operated stores were $892.2m (RMB6.48b), representing a 41.5% YoY increase.

Same-store sales at company-operated locations rose 8.1%, marking a sharp rebound from a 3.4% decline in the prior quarter and a substantial recovery from the 20.3% drop recorded in the same period last year.

Store-level operating profit from self-operated stores was $152.3m (RMB1.1b), representing a 244.8% YoY increase. Store-level operating margin increased by 10.1 percentage points YoY to 17.1%.

Revenues from partnership stores were $286.5m (RMB2b), representing a 38% YoY increase.

A total of 1,757 new stores were opened, including 1,743 in China (including five stores in Hong Kong), six in Singapore, and eight in Malaysia.

The total number of stores increased to 24,097 at the first quarter end, comprising 15,598 self-operated stores and 8,499 partnership stores, which represented a store unit growth of 7.9% from the total store count as of the end of Q4 2024.