- RCI Hospitality Holdings ( NASDAQ: RICK ) reported Tuesday a 28.8% jump in nightclubs and bombshells restaurants sales to reach $70M in the three months to September.
- The segment break-up showed nightclubs sales rose 40.4% as new club acquisitions contributed sales of $14.9M during the quarter, while there was a drop of 3.6% at bombshells restaurants and bars business when compared with a year ago revenue.
- "Fourth quarter Nightclub sales benefited from same-store growth and acquisitions. Bombshells had a soft July, but sales improved through the quarter and were up 7.4% year-over-year in September," said RCI President and CEO Eric Langan.
- The company ended the year with $35.6M in cash and cash equivalents after accounting for the $3M buybacks made in fourth quarter and $12.6M spent to acquire clubs and property for new Bombshells locations.
- "As sales return to traditional seasonal patterns, we look forward to a strong 1Q23," added Langan.
- Stock is up 1%.
For further details see:
RCI Hospitality's Q4 revenue rise double-digit despite soft bombshells season