RICK - RCI Hospitality reports record FQ4 revenue as clubs reopen
RCI Hospitality (NASDAQ:RICK) shares after the company reports record FQ4 revenue of $54.9M (+90.4% Y/Y) due the reopening of its restaurants and clubs. Compared to pre-COVID FQ4 2019, revenues increased 12% and income from operations increased 4% in the Nightclubs segment. For Bombshells restaurants, revenues increased 69% on 25% more units and operating margin expanded 11.9%. Margins improved compared to FQ4 2020 in cost of goods sold (14.9% vs. 15.6%), salaries and wages (25.6% vs. 28.5%), and SG&A (27.6% vs. 41.0%) due to higher sales and cost-savings initiatives. The company ended the quarter with $35.7M in cash and cash equivalents. Shares are flat AH. Read an analysis of RCI's model which SA contributor Ben Howard believes could make the stock the ultimate reopening play.
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RCI Hospitality reports record FQ4 revenue as clubs reopen