Apr 12, 2016 9:00 AM
Highlights (2Q16 vs. 2Q15)
CEO Comment
"2Q16's performance was particularly impressive given the fact the year ago period was our largest revenue quarter ever. In addition, even with two units temporarily closed, total sales grew 2.5% from our first fiscal quarter, which is typically our largest seasonal quarter.
"As a result, 2Q16 appears to represent the start of a rebound from when we reported same store sales fell 5.6% in 4Q15 and 6.3% in 1Q16.
"The Bombshells segment performed well in 2Q16 as we continue to fine tune the concept. Same store sales increased 4.1% year over year and total sales grew 5.7% from 1Q16.
"The Nightclubs segment began to come back with 2Q16 total sales up 2.0% compared to 1Q16. This reflects what looks like an initial turnaround in purchasing by big spending customers and increases from new marketing strategies.
"Looking ahead, nightclub sales should benefit from the reopening of two clubs in 3Q16 and the opening of a new club in
Sales data does not include the company's other subsidiaries. As previously announced, sales data for Fiscal 2016 and year ago periods is being reported net of sales taxes and other revenue related taxes, as RCI has chosen to early adopt new revenue accounting standards.
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