Luckin Coffee Inc posted a bigger-than-expected quarterly loss in its first resu...
FILE PHOTO: Men check their mobile phones outside a Luckin Coffee store in Beijing, China July 17, 2018. REUTERS/Jason Lee/File Photo
Luckin’s operating expenses surged more than three times in the June quarter, as it opened 593 new stores taking its total to 2,963, about 1,000 fewer than Starbucks. Luckin has also expanded beyond coffee, allowing customers to buy food and other beverages via its app.
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