$LK Just doubled to 20k shares @ $31.48 because this company is going to torch $SBUX sexy "China growth story" of adding 600 stores per year in china. Co is already dramatically outpacing SBUX growth in china & already operating profitably at the store level despite that stunning growth. More good news to come, but here is a recap of 3Q19 results that lit up the stock: Rev 1.49 million RMB exceeded the high end guided of between 1.35 billion and 1.45 billion RMB. Ave mo transacting customers jumped by 398% to 9.3 million. Stores increased by 210% to 3,680 stores! Net rev from freshly brewed drinks up hard but down to 74% of total revenue vs 80% 3Q18 reflecting massive ramp baked goods, juices & new teas. Big progress decreasing costly delivery sales on ramping store density. Big margin progress coming as delivery cost down to 3.1% of total net rev vs 5.7% prior yr. In July, the company launched Luckin Tea brand w/products available in both full and Luckin Tea store formats
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