HOUSTON, April 9, 2019 /PRNewswire/ -- RCI
Hospitality Holdings, Inc. (Nasdaq: RICK) today announced total and
same-store sales for its Nightclubs and Bombshells restaurants for
the Fiscal 2019 second quarter ended March
31, 2019. The company plans to report 2Q19 results on
May 9, 2019.
2Q19 vs. 2Q18
- Total club and restaurant sales: $44.1
million compared to $40.8
million – up 8.2%
- Consolidated same-store sales: $38.8
million compared to $39.9
million – down 2.8%
- Nightclubs total sales: $36.6
million compared to $35.2
million (39 units vs. 38) – up 4.0%
- Nightclubs same-store sales: $33.9
million compared to $34.3
million – down 1.2%
- Bombshells total sales: $7.5
million compared to $5.6
million (8 units vs. 5) – up 34.4%
- Bombshells same-store sales: $4.9
million compared to $5.6
million – down 12.7%
CEO Comment
Eric Langan, President and CEO,
commented: "New Nightclubs and Bombshells restaurants performed
very well in 2Q19, helping to generate record total club and
restaurant sales in what we knew would be a tough quarter for
same-store sales.
"Nightclubs same-store sales were up against strong year-ago
increases from our three large Minneapolis clubs due to high traffic from the
pro football championship there, whereas the big game was not in
any of our markets in 2Q19. However, it will be in North Miami next
year near two of our largest locations.
"While Bombshells same-store sales are still rebounding from
year-ago levels, we are making noticeable progress, significantly
reducing the percentage decline from its low in 4Q18."
Nightclubs
- New clubs added approximately $2.5
million from the November 2018
Pittsburgh and Chicago
acquisitions and the May 2018
acquisition of a smaller club in Kappa,
IL. All three continue to perform in line with
expectations.
- Excluding Minneapolis
locations, Nightclubs same-store sales increased 1.0%, continuing
to reflect effective marketing, management and appeal, combined
with a good economy. This was partially offset by unusually cold
weather from the "polar vortex" in the northern half of the US late
January-early February 2019.
Bombshells
- New units added approximately $2.6
million from Houston area
locations that opened April 2018
(Pearland), December 19, 2018 (I-10), and March 27, 2019 (Tomball). Bombshells I-10 continued to run
strong while Tomball had a solid
opening week.
- On a sequential quarter basis, sales for the five locations
open more than 12 months increased 5.5% from 1Q19 to 2Q19,
reflecting increases at all five, compared to a 3.9% decline from
1Q18 to 2Q18.
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, 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 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.