HOUSTON, July 11, 2017 /PRNewswire/ -- RCI
Hospitality Holdings, Inc. (Nasdaq: RICK) today announced total and
same-store sales for its Nightclubs and Bombshells restaurant
segments for the third fiscal quarter ended June 30, 2017. The company plans to report
complete 3Q17 results August 9,
2017.
3Q17 vs. 3Q16
- Total club and restaurant sales: $36.9
million compared to $33.1
million.
- Consolidated same-store sales: $33.4
million compared to $31.3
million.
- Nightclubs segment sales: $32.3
million compared to $28.1
million (40 units vs. 38).
- Bombshells restaurant segment sales: $4.6 million compared to $5.0 million (4 units vs. 5).
CEO Comment
Eric Langan, President and CEO,
commented: "In 3Q17, RCI generated one of the largest quarterly
increases in same-store sales in the last five years. This was
primarily due to the Nightclubs segment, where sales rose 8.0% on a
same-store basis and 14.9% on a total basis.
"In same-store sales, we are seeing a broad based recovery
around the country both in VIP spend and in customer count. This
was a nice surprise given our third quarter is normally seasonally
weaker. Total sales also benefited from our acquisitions of
Hollywood Showclub in St. Louis
(April 25th) and of
Scarlett's Cabaret Miami (May
8th), which contributed a combined $2.2 million in new volume. We were particularly
pleased with the performance of Scarlett's Cabaret Miami.
"Sales at our four existing Bombshells grew slightly on a
same-store basis. Our fifth Bombshells is expected to open next
week, on July 17th. We
have broken ground on our sixth, picked out a property for our
seventh, and plan to develop three more in 2018-2019. Customers
continue to be attracted to our military theme and social
dining concept with our Bombshells Girls, where you can have a
great time, great food, watch the game, listen to music, and hang
out with friends or family.
"Overall, we appear to be gaining momentum the same time as the
economy appears to be. With our increases in same-store sales and
our return to acquisition mode, management at all levels is excited
about the prospects going forward."
Notes
- Nightclubs and Bombshells segment sales do not include sales
from non-core operations.
- 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 44 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," "Tootsie's Cabaret," and "Scarlett'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.
Media & Investor Contacts
Gary Fishman and Steven Anreder at 212-532-3232 or
gary.fishman@anreder.com and steven.anreder@anreder.com
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SOURCE RCI Hospitality Holdings, Inc.