Milan – According to figures provided by Thinknum Alternative Data, Luckin Coffee now has as many locations as Starbucks in China. As of November 11th, both Luckin and Starbucks listed 4,260 locations, after Luckin pledged to open an average of 9 stores per day for the past year.
This news comes as Luckin prepares to release earnings today (November 12), when early estimates expect the company to continue to burn more cash than its making. Earning-per-share estimates are at -$0.38 on revenues of $208.84 million.
Luckin Coffee missed estimates last quarter, surprising investors with a two-cent EPS drop on top of earnings that missed by over $4 million.
Given Luckin’s rapid expansion, it’s not surprising that the company continues to lose money, as it’s still in full brand-build mode.