HOUSTON, Oct. 8, 2015 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced total sales at adult clubs and bars/restaurants for the fiscal fourth quarter and year ended September 30, 2015. RCI expects to announce 4Q15 and FY15 results on December 14, 2015.
FY15 vs. FY14
- Total club and restaurant sales reached $142.1 million compared to $127.4 million.
- Same store sales were $110.6 million compared to $111.3 million.
- Nightclubs segment sales totaled $123.0 million compared to $121.2 million.
- Bombshells segment sales totaled $19.1 million compared to $6.2 million.
4Q15 vs. 4Q14
- Total club and restaurant sales reached $34.0 million compared to $32.7 million.
- Same store sales were $29.9 million compared to $31.6 million.
- Nightclubs segment sales totaled $29.4 million compared to $30.1 million.
- Bombshells segment sales totaled $4.6 million compared to $2.5 million.
In 4Q15, there were 45 units (40 clubs and 5 Bombshells) versus 46 in 4Q14 (43 clubs and 3 Bombshells). During 4Q15, Union Square nightclub in Fort Worth was closed.
CEO Comment
Eric Langan, President and CEO, commented, "We're pleased to see a 3.9% year over year increase in quarterly sales and an 11.6% increase in annual sales.
"This continues to demonstrate the soundness of our bar/restaurant strategy, which saw Bombshells segment sales up 84% in 4Q15 and up more than 200% in FY15, and the success of our January acquisition of Down in Texas Saloon in Austin, TX, and the May acquisition of The Seville Club of Minneapolis.
"For FY15, same store sales were nearly level, but down 5.6% for 4Q15. During the quarter, selected units in Texas were soft, but larger clubs around the country did well, with Tootsie's Cabaret up 5.5%, Rick's Cabaret New York up 5.2%, Vivid Cabaret New York up 7.6%, and Jaguars Phoenix up 12.3%.
"Over the course of the year, while customer traffic was good, spending per customer eased, perhaps reflecting general economic uncertainty. We also saw more traditional patterns in our business, where we experience a stronger first half and a softer second half. In response, we're making major adjustments in promotions and other factors."
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With 45 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.