Luckin Coffee Announces First Quarter 2026 Financial Results and Share Repurchase Program

Luckin Coffee Inc. reported its first quarter 2026 financial results, with total net revenues increasing by 35.3% year-over-year to RMB12.0 billion. The company saw a 25.3% increase in average monthly transacting customers, reaching 93.1 million. They opened 2,548 net new stores, expanding their total store count to 33,596. Revenues from self-operated stores grew by 32.6%, while same-store sales growth for these stores was slightly negative at -0.1%. Partnership store revenues increased by 44.9%. GAAP operating income was RMB715.9 million, a slight decrease from the previous year, with a GAAP operating margin of 6.0%. Non-GAAP operating income saw a 4.1% increase to RMB898.0 million. Net income decreased to RMB506.1 million. The company also announced a new share repurchase program authorizing the repurchase of up to US$300 million of its Class A ordinary shares over a one-year period.