(Luckin Coffee) The total revenues of Luckin Coffee Inc. amounted to RMB2.432 billion or US$381.7 million in the fourth quarter of 2021, up 80.7% from the prior year.
The company said that revenues from self-operated stores increased by 61% to RMB1.837 billion or $288.3 million in the fourth quarter from the prior year.
The sales-store sales for the self-operated stores improved by 43.6%, up from a gain of 9.2% in the comparable quarter of 2020.
Luckin said that it hit 20.9% self-operated store level profit in the fourth quarter.
The company announced that it opened 353 net store outlets in the quarter, taking its footprint to one of the largest in China of at least 6,000.
Following the robust quarter, Luckin’s GAAP operating loss narrowed to RMB120.8 million in the fourth quarter, down from RMB488.9 million in the prior year.
