HOUSTON, Jan. 9, 2020 /PRNewswire/ -- RCI Hospitality
Holdings, Inc. (Nasdaq: RICK) today announced sales for its
Nightclubs and Bombshells restaurants for the Fiscal 2020 first
quarter ended December 31, 2019.
1Q20 vs. 1Q19
- Total club and restaurant sales: $47.8
million compared to $43.4
million – up 10.1%
- Consolidated same-store sales: $39.7
million compared to $39.5
million – up 0.7%
- Nightclubs total sales: $37.4
million compared to $37.4
million (38 units vs. 39) – up 0.1%
- Nightclubs same-store sales: $34.2
million compared to $34.8
million – down 1.8%
- Bombshells total sales: $10.3
million compared to $6.0
million (9 units vs. 7) – up 72.1%
- Bombshells same-store sales: $5.5
million compared to $4.6
million – up 19.2%
CEO Comment
Eric Langan, President and CEO,
said: "Total sales were up 10%, which was good. It was a great
quarter for Bombshells. Same-store sales continued to rebound, new
Bombshells continued to do very well, and we benefitted from the
Houston Astros in the playoffs. Nightclubs did okay. New clubs
continued to perform well, two moderate sized clubs were closed
part of the quarter, we had one less prime revenue week, and we
were comping against year ago increases of 7% in total sales and 4%
in same-store sales."
Nightclubs
- New clubs added $2.9 million from
Rick's Cabarets in Pittsburgh and
Chicago (both acquired
November 2018).
- Scarlett's Cabaret St. Louis enjoyed a successful reopening in
late November-early December after being closed for remodeling
after a fire in May.
- Rick's Cabaret Odessa was closed for less than half a month in
October for maintenance.
- There were three full weeks between Thanksgiving and Christmas
in 1Q20 versus four in 1Q19. These weeks are typically a large
seasonal period for Nightclubs.
Bombshells
- Contribution from new units increased 249.7% to $4.8 million in 1Q20 from four Houston area locations—Pearland (opened
April 2018), I-10 (December 2018), Tomball (March
2019), and a partial quarter of Katy (October 22,
2019), which experienced a record month for a Bombshells in
November.
- All of the "first five" locations were included in the 19.2%
same-store sales increase in 1Q20 and in 1Q19.
- Similar to 1Q18, most locations in 1Q20 benefitted from
increased traffic as a result of the Houston Astros playing through
the 7th game of the championship series.
- An upcoming Houston location
on US 59 is anticipated to open this month, which would expand the
chain to a total of 10 units in Texas.
Notes
- Current and historical Nightclubs and Bombshells sales data in
quarterly sales news releases do not include revenues from non-core
operations.
- Sales numbers are preliminary and subject to final
closing.
- 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.
- Planned opening dates are subject to change due to weather,
which could affect construction schedules, and scheduling of final
municipal inspections.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With more than 40 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, Chicago, Dallas/Ft.
Worth, Houston,
Miami, Minneapolis, St.
Louis, Charlotte, Pittsburgh, and other markets operate under
brand names such as Rick's Cabaret, XTC, Club Onyx, Vivid Cabaret,
Jaguars Club, Tootsie's Cabaret, and Scarlett's Cabaret. Sports
bars/restaurants operate under the brand name Bombshells Restaurant
& Bar. 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, but not limited to, the risks and
uncertainties associated with (i) operating and managing an adult
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) our ability to regain and
maintain compliance with the filing requirements of the SEC and the
Nasdaq Stock Market, and (vii) 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.