HOUSTON, July 9, 2015 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (NasdaqGM: RICK) today announced total sales at adult clubs and bars/restaurants for the third fiscal quarter ended June 30, 2015. RCI expects to announce 3Q15 results on August 10, 2015.
- Total club and restaurant sales reached $35.4 million compared to $33.1 million in the year ago quarter.
- Same store sales were $30.2 million compared to $31.9 million in the year ago quarter.
- There were 46 units in 3Q15 versus 43 in 3Q14.
- Nightclub segment sales (includes adult clubs and nightclubs) totaled $30.6 million compared to $31.5 million in 3Q14.
- Bombshells segment sales totaled $4.8 million compared to $1.6 million in 3Q14.
CEO Comment
Eric Langan, President and CEO, commented, "We're pleased at seeing a 6.9% year over year increase in total 3Q15 sales. This continues to demonstrate the soundness of our bar/restaurant strategy, which saw Bombshells segment sales up more than threefold year over year. On the other hand, the unusually severe rain and flooding in Texas contributed to a 5.3% decline in same store sales that affected our nightclub segment, in particular.
"Total club and restaurant sales benefitted from new adult clubs–Rick's Cabaret in Odessa, TX, the January acquisition of Down in Texas Saloon in Austin, TX, and the May acquisition of The Seville Club of Minneapolis—and from new Bombshells in Austin, Spring, and Houston, TX. In addition to weather, many units opened for more than a year faced tough comparisons against last year's strong line up of sporting events. While showing the Mayweather-Pacquiao fight at many locations helped 3Q15, it was difficult to overcome the benefit in 3Q14 of the New York Rangers in the Stanley Cup Finals and both the Miami Heat and the San Antonio Spurs in the NBA Finals."
About RCI Hospitality Holdings, Inc. (NasdaqGM: RICK)
With 46 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult gentlemen clubs and sports bars/restaurants. Adult clubs in New York City, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities operate under brand names, such as "Rick's Cabaret," "XTC," "Club Onyx," "Vivid Cabaret," "Jaguars" and "Tootsie's Cabaret." Sports bars/restaurants operate under the brand name "Bombshells." 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 the operational and financial results of our Web sites, 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.
All references to, the "company," "we," "our," and similar terms include RCI Hospitality Holdings, Inc. and its subsidiaries, unless the context indicates otherwise.
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SOURCE RCI Hospitality Holdings, Inc.