HOUSTON, April 10, 2018 /PRNewswire/ -- RCI
Hospitality Holdings, Inc. (Nasdaq: RICK) today announced total and
same-store sales for its Nightclubs and Bombshells restaurant
segments for the second fiscal quarter ended March 31, 2018. The company plans to report
complete 2Q18 results on May 10,
2018.
2Q18 vs. 2Q17
- Total club and restaurant sales: $40.8
million compared to $34.0
million
- Consolidated same-store sales: $35.3
million compared to $33.7
million
- Nightclubs segment sales: $35.2
million compared to $29.7
million (38 units vs. 37)
- Bombshells restaurant segment sales: $5.6 million compared to $4.4 million (5 units vs. 4)
CEO Comment
Eric Langan, President and CEO,
commented: "Fiscal 2018 sales have continued to do well with record
second quarter club and restaurant sales and strong same-store
sales, in line with the positive year over year trends we've been
seeing.
"Sales improved across the board in 2Q18. Nightclubs increased
18.5% in total sales and 5.1% on a same-store basis, while
Bombshells grew 28.0% in total sales and 2.7% on a same-store
basis. New units added $5.4 million
in sales, primarily due to Scarlett's Cabaret Miami, which we
acquired in 3Q17, and the second full quarter of Bombshells
Restaurant & Bar on Highway 290 in Houston.
"January was good despite tough weather in some markets.
February benefitted from traffic in multiple markets created by the
pro football championship. March was our strongest month in the
quarter for both segments, in particular, our Bombshells sports
bars in Texas, which were driven
by the continued success of the Houston Rockets and major college
basketball tournaments.
"During 2Q18, the status of two small clubs changed. We decided
to close Club Onyx Dallas after numerous attempts to improve
results. We are now actively marketing the property. We also closed
Hollywood Hunt Club and are now renting out the property.
"To sum up, our existing portfolio of clubs and restaurants are
doing well. On top of this, we have the imminent opening of our
newest Bombshells in the fast growing Houston suburb of Pearland, and three more Bombshells in various
stages of development in the Greater
Houston market. In addition, we have renewed our discussions
with prospective club acquisition targets."
Notes
- Nightclubs and Bombshells segment sales do not include sales
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.
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, 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
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SOURCE RCI Hospitality Holdings, Inc.