HOUSTON, Jan. 10, 2017 /PRNewswire/ -- RCI
Hospitality Holdings, Inc. (Nasdaq: RICK) today announced total and
same store sales at nightclubs and restaurants for the first fiscal
quarter ended December 31, 2016. The
company plans to report complete 1Q17 results February 9, 2017.
1Q17 vs. 1Q16
- Total club and restaurant sales: $33.3
million compared to $32.9
million.
- Same store sales: $32.2 million
compared to $31.1 million.
- Nightclubs segment sales: $29.0
million compared to $28.5
million (37 units vs. 38).
- Bombshells restaurant segment sales: $4.3 million compared to $4.4 million (4 units vs. 5).
CEO Comment
Eric Langan, President and CEO,
commented: "Club and restaurant sales continued their upward trend
in 1Q17.
"Nightclubs segment sales increased 2.8% on a same store basis
and 1.8% on a total basis. Results reflected particularly strong
performances from units in Minneapolis with the return of the Vikings to
their new downtown stadium, and from clubs in New York City and parts of Texas. Units that were reformatted or moved
also did well. In addition, same store sales benefitted from
eliminating underperforming clubs in 4Q16 as we improved our
portfolio.
"Bombshells segment sales increased 9.6% on a same store basis
and declined just $84,000 on a total
basis. Results reflected the closing of an early, underperforming
unit at the end of 4Q16, enabling the stellar performance of
existing Bombshells at better locations to shine through. Customers
continue to be attracted to our military themed sports bar concept
with our Bombshells Girls, where you can have a great time and
great food, watch the game and listen to music, and hang out with
friends or family."
Notes
- As of 1Q16, revenues (including prior comparable periods) are
being reported net of sales taxes and other revenue related taxes,
in line with new revenue accounting standards.
- Unit counts are at period end.
- All references to the "company," "we," "our," and similar terms
include RCI Hospitality Holdings, Inc. and its subsidiaries, unless
the context indicates otherwise.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With 41 units, RCI Hospitality Holdings, Inc., through its
subsidiaries, is the country's leading company in gentlemen's clubs
and sports bars/restaurants. Clubs in New
York City, Miami,
Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis and other cities operate under
brand names, such as "Rick's Cabaret," "XTC," "Club Onyx," "Vivid
Cabaret," "Jaguars" and "Tootsie's Cabaret." Sports
bars/restaurants operate under the brand name "Bombshells." Please
visit http://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
in this press release, including the risks and uncertainties
associated with operating and managing an adult business, the
business climates in cities where it operates, the success or lack
thereof in launching and building the company's businesses, risks
and uncertainties related to cybersecurity, conditions relevant to
real estate transactions, and numerous other factors such as laws
governing the operation of adult entertainment businesses,
competition and dependence on key personnel. The company has no
obligation to update or revise the forward-looking statements to
reflect the occurrence of future events or circumstances.
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SOURCE RCI Hospitality Holdings, Inc.