RCI Hospitality Holdings Q1 Club & Restaurant Sales Up 5.9%

(RTTNews) - RCI Hospitality Holdings, Inc. (RICK) Tuesday reported sales for its Nightclubs and Bombshells restaurants of $73.3 million, an increase of 5.9% year over year, for the first quarter ended December 31, 2023.

Eric Langan, President & CEO of RCI, said: "First quarter sales benefited from acquisitions and new locations. While same-store sales declined year-over-year, the trend improved over the course of the quarter, as we had hoped, due to the strength of Nightclubs, which is a good sign."

Nightclubs' sales totaled $60.6 million, an increase of 8.4% year-over-year. This reflected an increase of $8.9 million from full-year 2023 acquisitions that are not in same-store sales and an approximately $349 thousand increase from a reformatted club which is also not in SSS.

Bombshells' sales totaled $12.7 million, a decline of 4.6% year-over-year. This reflected an increase of $2.1 million from full year 2023 acquisitions that are not in same-store sales of Bombshells San Antonio and Cherry Creek Food Hall, and the November 15 opening of a new Bombshells location in the Houston suburb of Stafford.