HOUSTON, Oct. 10, 2017 /PRNewswire/ -- RCI Hospitality
Holdings, Inc. (Nasdaq: RICK) today announced total and same-store
sales for its Nightclubs and Bombshells restaurant segments for the
fourth fiscal quarter ended September 30,
2017. The company plans to report complete 4Q17 results
December 14, 2017.
4Q17 vs. 4Q16
- Total club and restaurant sales: $38.1
million compared to $32.0
million.
- Consolidated same-store sales: $32.4
million compared to $30.4
million.
- Nightclubs segment sales: $32.6
million compared to $27.3
million (40 units vs. 38).
- Bombshells restaurant segment sales: $5.6 million compared to $4.7 million (5 units vs. 5).
CEO Comment
Eric Langan, President and CEO,
commented: "We're pleased to report both strong same-store and
total club and restaurant sales for our fourth quarter, resulting
in full year Fiscal 2017 growth of 4.9% in same-store sales and
8.1% in total club and restaurant sales.
"The Nightclubs segment increased 19.2% in total sales and 7.3%
on a same-store basis, while the Bombshells segment grew 18.8% in
total sales and 2.1% on a same-store basis. These results are a
credit to our outstanding staffs across the country, in particular,
everybody who went above and beyond the call of duty to help our
restaurants and clubs reopen within days after the hurricanes.
"In the Greater Houston area,
our three Bombshells lost four days in August due to Hurricane
Harvey, but were among some of the first restaurants and bars to
reopen. There were relatively minor impacts on our smaller
nightclubs in the area. In South
Florida, our larger Tootsie's Cabaret Miami and Scarlett's
Cabaret Miami lost one weekend and some important weekdays in
September due to Hurricane Irma.
"We expect complete 4Q17 results will be impacted by some
expenses from helping our most severely impacted employees deal
with the aftermath of the hurricanes. We also plan to submit claims
under our business interruption insurance, but have not recognized
any potential proceeds at this time under GAAP.
"Otherwise, total sales for the quarter were positively impacted
by $4.5 million from our first full
quarter of Scarlett's Cabaret Miami and Scarlett's Cabaret St.
Louis, both of which were acquired in 3Q17, along with a partial
quarter of the highly successful debut of our new Bombshells
Restaurant & Bar on Highway 290 in Houston.
"Both same-store and total sales benefitted from strong
marketing related to televised professional football, boxing, and
mixed martial arts sporting events. In addition, we are continuing
to see a broad based recovery around the country both in VIP spend
and customer count. This was a pleasant surprise given our fourth
quarter is normally a seasonally weaker period."
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 45 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 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
View original content with
multimedia:http://www.prnewswire.com/news-releases/rci-4q17-club--restaurant-total--same-store-sales-increase-despite-hurricanes-300533814.html
SOURCE RCI Hospitality Holdings, Inc.