RCI Hospitality Q3 Club & Restaurant Combined Same-store Sales Down 0.1%

(RTTNews) - RCI Hospitality Holdings, Inc. (RICK) reported total sales for its Nightclubs and Bombshells restaurants of $70.1 million for the third quarter, an increase of 23.7% from prior year. The company noted that its revenues hit the higher end of target annual run rate of $260-$280 million.

Combined same-store sales were down 0.1% from prior year. Bombshells same-store sales declined 12.3% from prior year. Nightclubs same-store sales were up 4.8%, for the quarter.

"Bombshells faced comparisons to an unusually strong year-ago quarter, when it was one of the few bar and restaurant chains open in Texas, with little competition due to the state of COVID at the time. Otherwise, Bombshells saw typical seasonal trends," said Eric Langan, President and CEO

The company also announced it bought back 168,069 shares in its third quarter totaling $9.2 million.

RCI Hospitality Holdings ended the quarter with $37.5 million cash and cash equivalents.

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