11月24日，幸运咖宣布：全球门店数量正式突破10000家。2025年以来，仅用约10 个月，幸运咖门店数 便实现翻倍增长。同时，其还加速布局北上广深、长三角、珠三角等区域。截至目前，幸运咖门店已覆 盖全国超 300 座城市。其中，一线市场的门店数已超千家，北京地区门店数达到100家。8 月，幸运咖 也在马来西亚开设首家海外门店。 在产品方面，截至10 月，幸运咖椰椰拿铁累计销售超 1亿杯，销售额突破 10 亿元；招牌冰萃咖销售额 已突破 2 亿元。同时，幸运咖进一步加快产品上新节奏，已推出多达47 款新品，包括草莓系列、荔枝 系列、真果咖系列等多系列咖啡新品。 责任编辑：刘万里 SF014 据悉，幸运咖兼具原料直采、自有烘焙基地、自建物流体系，共享集团五大生产基地与29个仓储中心， 12小时配送圈确保原料新鲜，实现咖啡豆直采、烘焙、物流等环节的高效整合。5月，蜜雪集团跟巴西 签署40亿元农产品采购意向大单，其中大多数是咖啡豆。在咖啡烘焙端，幸运咖今年产能大幅扩充，新 投产的大咖海南工厂烘焙线年产能超 2 万吨，咖啡烘焙总产能达 2.8万吨。 另外，幸运咖也预告：11 月 29 日当天，幸运咖将在位于郑州的总 ...

瑞幸咖啡三季度 营收同比增超 50%！门店直逼 3万家_南方+_南 方plus 日前，瑞幸咖啡 发布2025年第三 季度财报。报告 期内，瑞幸咖啡 营收达152.9亿 元，同比增长 50.2%，净利润 12.78亿元，较 2024年同期的 13.14亿元下滑 2.7%，净利润率 从去年同期的 12.9%降至 8.4%。 营收增速创年内 新高，门店增至 2.92万家 从全年增长节奏 看，瑞幸三季度 营收增速明显加 快。数据显示， 瑞幸2025年一季 度营收88.65亿 元，同比增长 41.2%，二季度 营收123.59亿 元，同比增长 47.1%。到了三 季度，瑞幸的营 收仿佛"拉了倍 记者发现，瑞幸 前三季度营收总 和已达365.14亿 元，对照2024年 全年437亿元的 营收，瑞幸此时 的完成度已达 83.5%，其2025 年营业收入或将 超越2024年。 瑞幸的高营收增 速，主要来源于 其门店扩张速 度。财报显示， 截至三季度末， 瑞幸门店总数达 29214家，较二 季度末净增3008 家。其中，中国 大陆（含香港） 新增2979家，海 外市场新加坡、 马来西亚、美国 分别新增5家、 21家、3家，线 ...

门店接近3万家的瑞幸咖啡仍在保持增长。 北京时间11月17日晚间，瑞幸咖啡公布2025年第三季度业绩情况，营收同比增长超过50%，公司单季净新开门店超3000家，月均交易客户数也突破1.1 亿。 然而，这份强劲的扩张势头之下，是利润率的明显收缩。财报显示，一项关键成本（配送费用）同比激增超200%，导致公司整体经营利润率承压。 外卖大战的行业背景下，配送费用的增长是瑞幸适配平台生态、抢占线上份额的阶段性选择，还是需要持续优化的成本结构？面对规模扩张与盈利平衡的 行业命题，瑞幸如何在顺应市场趋势的同时，找到成本与收益的更佳平衡点？ 一个关键指标是，自营门店同店销售增长率达到了14.4%，这不仅是对去年同期（-13.1%）的明显改善，也显示出其存量门店的运营效率正在提升。 然而，这份近乎全面的增长背后，是经营利润率的阶段性承压。 数据显示，本季度GAAP经营利润为17.8亿元，同比仅增长12.9%，低于50.2%的营收增幅。其GAAP经营利润率，也因此从去年同期的15.5%收缩至 11.6%。 其根源直指一项关键成本的大幅上涨，财报显示，配送费用达到28.89亿元，相较去年同期的9.28亿元，同比激增211.4% ...

瑞幸2025Q3营收增 50.2%，净利降1.9%，外卖配送费用激增三倍 瑞幸方面解释，配送费用大幅增长主要受第三方外卖平台配送量激增推动，且外卖渠道前期较大的补贴力度，进一步带动了订单量与客户数的 爆发式增长。值得注意的是，其他成本控制表现稳健：材料成本增长40.6%至55.4亿元，店租金及其他运营成本增长35.5%至30.97亿元，两项 成本增速均低于营收增速，体现出规模效应带来的成本优化优势。 财报显示，瑞幸咖啡营收增长势头持续强劲，自营与合作门店业务均实现高速增长。其中，自营门店收入110.8亿元，同比增长47.7%，门店层 面营业利润19.41亿元，同比增长10.2%，同店销售增长率提升至14.4%；合作门店表现更为亮眼，收入达37.99亿元，同比增幅高达62.3%，成 为拉动整体营收增长的重要引擎。 针对外卖业务对盈利的影响，瑞幸CEO郭谨一在业绩会上明确表态，咖啡行业长期发展仍将以自提为核心，外卖仅是阶段性补充。他指出，外 卖履约成本与国内咖啡主流价格带不匹配，单杯经济模型并非最优解，且配送时长会影响即时消费体验。 产品结构上，鲜酿饮品作为核心支柱持续发力，本季度净收入106.33亿元，同比增长 ...

（资讯） 这也体现了本地生活服务领域的新趋势——以用户真实行为路径为基础的场景融合正成为行业增长的重要驱动力。哈啰所 覆盖的广泛骑行用户与瑞幸"在线点单、门店取餐"的运营模式高度契合，共同构建了"即想即得"的新型服务体验。 当前，本地生活服务市场竞争正逐步由流量获取深化为场景融合能力的比拼。哈啰通过平台能力开放，为行业提供了提升 用户价值与商业效率的创新路径。哈啰相关业务负责人表示："我们致力于推动出行场景与生活服务的深度融合。此次与瑞 幸的合作，充分验证了哈啰平台在连接多元消费需求方面的能力。我们期待与更多优秀品牌携手，共同拓展更丰富的消费 场景。" 骑行路上可顺手买咖啡了！哈啰与瑞幸咖啡于近日正式宣布达成合作：自11月17日至11月30日，用户通过哈啰App扫码骑 行时，可在同一界面直接完成瑞幸饮品的选购与支付，并有机会享受骑行免单权益。 据悉，用户打开哈啰App或使用扫码开锁功能后，即可进入瑞幸-哈啰联合活动专区，点击后可跳转至瑞幸支付宝小程序完 成下单。订单生成后，用户可在哈啰App或瑞幸支付宝小程序内同步查看取餐码信息。除支持到店自提外，用户也可选择 配送服务。此外，用户当日首次下单可获得1.5元骑 ...

经济观察网 近日，瑞幸咖啡（中国）有限公司凭借在优质运营、创新突破、服务升级、品牌影响力构 建以及企业社会责任履行等多领域的出色表现，成功入围《经济观察报》2025美好生活年度企业榜单。 此次评选深度聚焦高质量发展与消费升级的时代大势，旨在挖掘在新消费浪潮中积极践行高质量发展理 念、推动消费升级创新的企业，为行业树立标杆典范，进而推动新消费行业持续、健康、高质量发展。 ...

Core Insights - Luckin Coffee reported a total net revenue of 15.287 billion RMB for Q3 2025, representing a year-on-year growth of 50.2% [1] - The company achieved a GAAP operating profit of 1.777 billion RMB, with an operating profit margin of 11.6% [1] - The Gross Merchandise Volume (GMV) for the third quarter was approximately 17.32 billion RMB [1] Revenue Breakdown - Self-operated store revenue reached 11.08 billion RMB, showing a year-on-year increase of 47.7% [1] - Operating profit from self-operated stores was 1.941 billion RMB, up 10.2% year-on-year, with same-store sales growth rate improving to 14.4% [1] - Revenue from partner stores grew by 62.3% year-on-year, totaling 3.799 billion RMB [1] Store Expansion - In Q3, Luckin Coffee opened a net of 3,008 new stores, bringing the total number of stores globally to 29,214 by the end of the quarter [1] - In the Chinese market, the company added 2,979 new stores, reaching a total of 29,096 stores, which includes 18,809 self-operated stores and over 10,287 partner stores [1] - Internationally, Luckin Coffee opened a net of 29 new stores, with a total of 118 stores, including 68 self-operated stores in Singapore, 5 in the USA, and 45 franchise stores in Malaysia [1]

Core Insights - Luckin Coffee reported a total net revenue of RMB 15.287 billion for Q3 2025, representing a year-on-year growth of 50.2% [1] - The company achieved a GAAP operating profit of RMB 1.777 billion, with an operating profit margin of 11.6% [1] - The average monthly transacting customer count reached 112 million, with a total of 29,214 stores globally by the end of Q3 [1] Revenue Breakdown - Self-operated store revenue for Q3 was RMB 11.08 billion, a year-on-year increase of 47.7% [1] - Operating profit from self-operated stores was RMB 1.941 billion, up 10.2% year-on-year, with same-store sales growth rate improving to 14.4% [1] - Revenue from partnership stores grew by 62.3% year-on-year to RMB 3.799 billion [1] Store Expansion - A total of 3,008 new stores were opened in Q3, bringing the global store count to 29,214 [1] - In the Chinese market, 2,979 new stores were added, totaling 29,096 stores, including 18,809 self-operated and 10,287 partnership stores [1] - In the international market, 29 new stores were opened, with a total of 118 stores, including 68 self-operated in Singapore, 5 in the U.S., and 45 franchise stores in Malaysia [1] Customer Growth - Over 42 million new transacting customers were added in Q3, with a year-on-year increase of 40.6%, reaching an average monthly customer count of 112 million [2] - The cumulative number of transacting customers surpassed 420 million by the end of Q3 [2]

Core Viewpoint - Luckin Coffee continues its rapid expansion, achieving a 50% revenue growth in Q3, with monthly active transaction customers surpassing 100 million for the first time, but profitability remains under pressure due to soaring delivery costs driven by increased orders from third-party delivery platforms [1][3][9]. Business Progress - The company added 3,008 new stores in the quarter, bringing the total to 29,214 stores (18,882 self-operated and 10,332 franchised), a quarter-on-quarter increase of 11.5% [3][5]. - Monthly active transaction customers reached 112.3 million, a year-on-year increase of 40.6%, marking a significant milestone [3][13]. - Q3 total revenue was 15.3 billion RMB (approximately 2.14 billion USD), a year-on-year increase of 50.2%, with GMV growing 48.1% to 17.3 billion RMB [3][5]. Profitability Challenges - Net profit attributable to ordinary shareholders was 1.278 billion RMB, a decrease of 2.7% year-on-year, with net profit margin dropping from 12.9% to 8.4% [3][6]. - The operating cash flow was 2.07 billion RMB, up 57.2% year-on-year, with cash and equivalents reaching 9.35 billion RMB, a 57.5% increase from the beginning of the year [3]. Cost Pressures - Delivery costs surged by 211.4% to 2.89 billion RMB, primarily due to a spike in orders from third-party delivery platforms [4][8]. - The operating expense ratio increased from 84.5% to 88.4%, eroding profit margins [4][9]. Store Performance - Same-store sales for self-operated stores grew by 14.4%, reversing the negative growth of -13.1% from the previous year [5][10]. - The profitability of self-operated stores declined, with profit margin dropping from 23.5% to 17.5%, despite an absolute profit increase of 10.2% to 1.94 billion RMB [6][10]. Franchise Business - The franchise business showed strong performance, with revenue of 3.8 billion RMB, a year-on-year increase of 62.3%, accounting for 24.9% of total revenue [7]. - Franchise revenue components included 2.02 billion RMB from material sales, 870 million RMB from delivery service fees, and 580 million RMB from profit sharing and licensing fees [7]. Customer Engagement - The average monthly active transaction customers reached 112.3 million, contributing approximately 51.3 RMB per customer for the quarter, or about 17 RMB per month [13][15]. - It is important to note that this figure includes customers from franchise stores and those using free coupons [14].

福布斯新闻网站报道称，本月早些时候的调查显示，超过四分之三的美国人对个人财务状况感到忧虑， 而政府却质疑民调的真实性，称其为"虚假信息"。然而，多数民众正经历的是物价上涨带来的支出增 加。尽管特朗普政府宣称"生活成本已大幅下降"，但电费、家具、电子产品及食品杂货等价格自其就职 以来便普遍上涨。 转自：中国日报网 中国日报网11月17日电 综合外媒报道，最新公布的密歇根大学消费者信心指数初值显示，11月美国消 费者信心指数由10月的53.6降至50.3，不仅低于预期，更创下三年来的新低。这反映出，目前美国经济 正面临物价持续上涨、企业成本传导压力加大、政府政策与民众实际感受脱节等多重挑战。 专家：信心下滑在于美民生压力持续加重 美国"共同梦想"网站日前报道指出，尽管特朗普政府曾承诺在上任首日即着手降低民众生活成本，但十 个月过去，政府却表示民生负担危机可能要到2026年才会真正显现。与此同时，美国失业人数已突破百 万，信用卡债务持续攀升，加剧了家庭财务压力。 "基层合作组织"（Groundwork Collaborative）政策与倡导部门主管亚历克斯·雅克兹指出，美民众对经济 的信心下滑源于实际生活压力的加重 ...