Business
RCI Reports 2Q19 Club & Restaurant Total Sales Up 8.2%
HOUSTON, April 9, 2019 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced total and same-store sales for its Nightclubs and
About this update from Rci Hospitality Holdings, Inc.
[{"type":"text","content":"\n HOUSTON, April 9, 2019 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced total and same-store sales for its Nightclubs and Bombshells restaurants for the Fiscal 2019 second quarter ended March 31, 2019. The company plans to report 2Q19 results on May 9, 2019.\n\n \n2Q19 vs. 2Q18\nTotal club and restaurant sales: $44.1 million compared to $40.8 million – up 8.2% Consolidated same-store sales: $38.8 million compared to $39.9 million – down 2.8% Nightclubs total sales: $36.6 million compared to $35.2 million (39 units vs. 38) – up 4.0% Nightclubs same-store sales: $33.9 million compared to $34.3 million – down 1.2% Bombshells total sales: $7.5 million compared to $5.6 million (8 units vs. 5) – up 34.4% Bombshells same-store sales: $4.9 million compared to $5.6 million – down 12.7%CEO Comment\nEric Langan, President and CEO, commented: \"New Nightclubs and Bombshells restaurants performed very well in 2Q19, helping to generate record total club and restaurant sales in what we knew would be a tough quarter for same-store sales.\n\"Nightclubs same-store sales were up against strong year-ago increases from our three large Minneapolis clubs due to high traffic from the pro football championship there, whereas the big game was not in any of our markets in 2Q19. However, it will be in North Miami next year near two of our largest locations.\n\"While Bombshells same-store sales are still rebounding from year-ago levels, we are making noticeable progress, significantly reducing the percentage decline from its low in 4Q18.\"\nNightclubs\nNew clubs added approximately $2.5 million from the November 2018 Pittsburgh and Chicago acquisitions and the May 2018 acquisition of a smaller club in Kappa, IL. All three continue to perform in line with expectations. Excluding Minneapolis locations, Nightclubs same-store sales increased 1.0%, continuing to reflect effective marketing, management and appeal, combined with a good economy. This was partially offset by unusually cold weather from the \"polar vortex\" in the northern half of the US late January-early February 2019.Bombshells\nNew units added approximately $2.6 million from Houston area locations that opened April 2018 (Pearland), December 19, 2018 (I-10), and March 27, 2019 (Tomball). Bombshells I-10 continued to run strong while Tomball had a solid opening week....