Luckin Coffee's earnings weighed down by costly battle with Starbucks

Luckin Coffee's earnings weighed down by costly battle with Starbucks

FILE PHOTO: A cup of 'Luckin Coffee' coffee is poured during the company's IPO at the Nasdaq Market site in New York, U.S., May 17, 2019. REUTERS/Brendan McDermid/File Photo

Luckin Coffee Inc posted a bigger-than-expected quarterly loss in its first results as a public company, hurt by soaring costs as it opened stores at a rapid clip and invested aggressively to take on Starbucks Corp.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter