RICK - RCI unveils 1Q21 sales trends and bombshells expansion plans

RCI Hospitality Holdings (RICK) reports 47 of 48 locations were opened in October.Total club and restaurant sales for October up 34% M/M to $15.3M and equaled 97% of year ago sales.For FQ4, total Bombshells sales increased 80% Y/Y to $15.5M and 50% on a same-store basis.RCI plans to develop 10 new Bombshells over the next three years assuming it can find the right locations and structure the development of each in line with the company's capital allocation strategy.November revenues to be around $11M-$12M. The company currently has ~$18M cash on hand.

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RCI unveils 1Q21 sales trends and bombshells expansion plans