HOUSTON, July 8, 2021 /PRNewswire/ -- RCI Hospitality
Holdings, Inc. (Nasdaq: RICK) today reported sales for its
Nightclubs and Bombshells restaurants for the fiscal 2021 third
quarter ended June 30, 2021. Results
reflected a continued rebound from the COVID-19 pandemic.
3Q21 vs. 3Q20
- Total club and restaurant sales: $56.7
million compared to $14.3
million (+296.0%)
- Nightclubs total sales: $40.6
million compared to $5.8
million (+602.1%)
- Bombshells total sales: $16.1
million compared to $8.5
million (+88.4%)
- There are no same-store sales comparisons for the quarter
because no locations were open enough days in 3Q20 to qualify
3Q21 vs. 3Q19
*For illustrative purposes, the following compares data for
3Q21 to 3Q19 to provide a better understanding of sales trends over
the last two years given the significant impact of the pandemic on
3Q20.
- Total club and restaurant sales: $56.7
million compared to $46.2
million (+22.6%)
- Total club and restaurant same-store sales*: $53.0 million compared to $45.2 million (+17.2%)
- Nightclubs total sales: $40.6
million compared to $37.5
million (+8.4%) on 36 units vs. 38
- Nightclubs same-store sales*: $40.6
million compared to $36.5
million (+11.3%)
- Bombshells total sales: $16.1
million compared to $8.8
million (+83.6%) on 10 units vs. 8
- Bombshells same-store sales*: $12.4
million compared to $8.8
million (+41.6%)
CEO Comment
Eric Langan, President and CEO,
said, "We are very pleased to set a new record for total quarterly
club and restaurant sales of $56.7
million in the June quarter, reflecting new quarterly sales
records for both our Nightclubs segment with $40.6 million and our Bombshells segment with
$16.1 million.
"In May, RCI recorded the highest monthly club and restaurant
sales in company history, followed by June and then March. Total
club and restaurant same-store sales for 3Q21 versus 3Q19 increased
17.2%. We believe this comparison provides a better understanding
of sales trends given the significant impact of the pandemic
on 3Q20.
"We believe the continued sequential quarterly improvement in
total club and restaurant sales reflects the elimination of all
restrictive curfews and occupancy restrictions on our northern
clubs by the beginning of June and the ongoing return of our loyal
customer base, all of which are generally benefitting from
increased vaccinations.
"Approximately 43% of the sequential quarterly improvement
in clubs came from our northern locations, about 30% from our clubs
in Texas, and approximately 27%
from our locations in Florida and
other areas. All Bombshells locations generated double-digit
percentage sequential quarterly sales increases.
"We greatly appreciate the loyalty of our customers. Special
thanks to our team members for making everything possible. We urge
all customers to get their vaccines so we can remain open to serve
you and keep our team members working."
RCI expects to report 3Q21 financial results by August 9th.
Notes
- Sales do not include non-core operations and are preliminary
and subject to final closing.
- Unit counts are at period end.
- All references to "RCI Hospitality Holdings, Inc.," "company,"
"we," "our," and similar terms refer to RCI and/or its
subsidiaries, unless the context indicates otherwise.
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) the impact of the COVID-19
pandemic, and (vii) numerous other factors such as laws governing
the operation of adult entertainment 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, 2020, 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 and 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.