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Luckin Coffee: When More Stores Stop Meaning More Growth
Luckin Coffee opened 2,714 net new stores in a quarter. Revenue surged, but comparable store sales declined. What its numbers tell us about expansion, promotions and capital allocation in Indonesian coffee.
N
Neverlater
31 October 2026
A first look
Luckin Coffee opened 2,714 net new stores in three months. Revenue climbed 28.5%. Yet sales at comparable self-operated stores fell 5.3%.
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