This article only represents the author's own views.
China’s coffee wars are scalding a lot of companies these days. The overheated landscape, which has seen companies slash prices to a new norm of just 9.9 yuan ($1.37) per cup of premium brew, is on the front burner in the latest quarterly results from market leader Luckin Coffee Inc. (LKNCY.US), which reported falling profits and plunging same-store sales.
Luckin certainly isn’t the only one suffering in China’s coffee wars, as former market leader Starbucks (SBUX.US) disclosed equally dismal trends for its China operation in its own latest quarterly report also released this week.
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