Reports Q4 revenue RMB 3.69B vs. RMB 2.43B last year. Net new store openings in the fourth quarter was 368, resulting in a quarter-over-quarter store unit growth of 4.7% from the number of stores at the end of the third quarter of 2022, ending the fourth quarter with 8,214 stores which include 5,652 self-operated stores and 2,562 partnership stores. Average monthly transacting customers in the fourth quarter were 24.6 million, representing an increase of 51.3% from 16.2 million in the same quarter of 2021.Same-store sales growth for self-operated stores in the fourth quarter was 9.2%, compared to 43.6% in the same quarter of 2021. "We delivered another year of strong operational and financial performance despite being materially impacted by COVID-19 in the fourth quarter of 2022," said Dr. Jinyi Guo, Chairman and Chief Executive Officer of Luckin Coffee. "We had more than 2,100 net new store openings in 2022, bringing our total stores in China to more than 8,200 and demonstrating our ability to effectively navigate a dynamic and evolving business landscape and maintaining our leading position in the Chinese coffee market. Our team has continued to deliver improvements across key operating and financial metrics, and we are pleased to have achieved substantial revenue growth in 2022 while further improving our profitability profile." Dr. Guo continued, "Under our long-term goal of supply chain integration, we were pleased to break ground on our second roastery in Kun Shan in December 2022, which will supply us with roasted coffee beans of consistent quality. We are also proud to have launched our ESG initiative in November 2022, with the publication of our 2020-2022 Corporate Governance Report. This report underscores ongoing commitment to pursuing sustainable development and growth."
Published first on TheFly
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