Business
RCI 2Q21 Total Club & Restaurant Sales Up 9.5% Year-over-Year
HOUSTON, April 8, 2021 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported sales for its Nightclubs and Bombshells restaurants for
About this update from Rci Hospitality Holdings, Inc.
[{"type":"text","content":"HOUSTON, April 8, 2021 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported sales for its Nightclubs and Bombshells restaurants for the fiscal 2021 second quarter ended March 31, 2021. Results reflected a continued rebound through the COVID-19 pandemic.\n\n \n \n \n \n \n \n\n \n2Q21 vs. 2Q20\nTotal club and restaurant sales: $43.5 million compared to $39.8 million (+9.5%) Total club and restaurant same-store sales: $16.9 million compared to $13.4 million (+26.3%) Nightclubs total sales: $30.4 million compared to $31.0 million (-1.9%) Nightclubs same-store sales: $6.9 million compared to $6.6 million (+3.6%) Bombshells total sales: $13.2 million compared to $8.8 million (+49.5%) Bombshells same-store sales: $10.0 million compared to $6.7 million (+48.6%) Many locations were not open enough days in 2Q21 and 2Q20 to be part of same-store sales. This was due to different restrictions in both periods and weather in 2Q21 that primarily affected clubs.CEO Comment\nEric Langan, President & CEO, said, \"We are very excited about our first quarterly increase in total club and restaurant sales in 12 months and ending the quarter with approximately $20 million in cash.\n\"Total sales in January were better than December. February was affected by the Texas Freeze. In March, RCI recorded the highest monthly club and restaurant sales in company history. We believe the continued sequential quarterly improvement reflects more locations open on a more consistent basis, less restrictive curfews, and the ongoing return of our loyal customer base, all of which are generally benefitting from increased vaccinations. This was despite the fact that most of our larger locations in northern states still operated under more restrictive curfews, which are starting to end.\n\"We continue to move full speed ahead with our growth plans. The first of our previously announced 10 new company owned Bombshells planned over the next three years is now under construction in Arlington, TX, while we continue to look for new locations. Our first franchisee is about to begin construction on the first of its three planned locations in San Antonio, TX. Now that we have all of our appraisals, we are working on finalizing the refinancing of our bank real estate debt. We expect to report 2Q21 financial results by May 10th, and we look forward to EXPO,...