Get Cash Back and $0 Commissions
+ The Power of TradeStation
PRNewswire 9-Apr-2024 4:05 PM
HOUSTON, April 9, 2024 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (NASDAQ:RICK) reported sales for its Nightclubs and Bombshells restaurants for the fiscal second quarter ended March 31, 2024 of $71.7 million, an increase of 1.3% or $0.9 million compared to the year-ago period. Sales do not include non-core operations and are subject to final closing. Full 2Q24 financial results are expected by May 9, 2024.
RCI is holding a related conference call on X Spaces at 4:30 PM ET. The call is being hosted by RCI President & CEO Eric Langan, CFO Bradley Chhay, and Mark Moran of Equity Animal. Links to the call and presentation will be available at https://www.rcihospitality.com/investor-relations/. To ask questions during Q&A, you need to use a mobile phone. To listen only, you can use a computer. If you haven't done so, sign up for X as there will be no telephone or webcast access.
Eric Langan, President & CEO of RCI, said: "During 2Q24, increases in sales from last year's acquisitions and new locations more than offset year-over-year declines in same-store sales and from clubs in transition. While we continue to work at improving SSS, we have made noticeable progress with our development schedule, acquisitions, capital management, and share buybacks."
Sales
Development Schedule & Acquisitions
Capital Management
Club & Restaurant Sales ($ in Millions)
2Q24 | Total Sales | Total Sales vs. 2Q23 | Same-Store Sales vs. 2Q23 |
Combined | $71.7 | +1.3 % | -8.6 % |
Nightclubs | $59.0 | +4.2 % | -5.7 % |
Bombshells | $12.8 | -10.4 % | -20.5 % |
6M24 | Total Sales | Total Sales vs. 6M23 | Same-Store Sales vs. 6M23 |
Combined | $145.1 | +3.5 % | -9.2 % |
Nightclubs | $119.6 | +6.3 % | -6.5 % |
Bombshells | $25.5 | -7.6 % | -20.4 % |
Notes
About RCI Hospitality Holdings, Inc. (NASDAQ:RICK) (X: @RCIHHinc)
With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult nightclubs and sports bars-restaurants. See all of our brands at www.rcihospitality.com.
Forward-Looking Statements
This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) the impact of the COVID-19 pandemic, and (vii) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2023, as well as its other filings with the U.S. Securities and Exchange Commission. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
Media & Investor Contacts
Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/rci-reports-2q24-sales-development-updates--share-buybacks-holding-x-spaces-call-at-430-pm-et-today-302112226.html
SOURCE RCI Hospitality Holdings, Inc.