We've been tracking Luckin Coffee, the world's fastest-growing chain in the world, since its high-speed beginnings. We've known that this moment would come, but now that it's here, the excitement is, well, it's palpable.
So here it is: As of today, Luckin Coffee ($LK) now has as many locations in China as does Starbucks ($SBUX).
That's right: both Luckin and Starbucks now list 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 on 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 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 terribly surprising that the company continues to lose money, as it's still in full brand-build mode.
And now that it at least matches Starbucks in terms of location outlay, it will likely be even more focused on growing its customer base in China.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Saks Fifth Avenue's parent company sells out to duck the retail apocalypse
- The real problem for Hudson's Bay and Lord + Taylor? Too many stores, too little space
- Luxury retailer Barneys files Chapter 11 - this is the company's alternative data
