HOUSTON, Jan. 8, 2015 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (NasdaqGM: RICK) today announced total sales at adult clubs and sports bars/restaurants for the first fiscal quarter ended December 31, 2014. The figures do not include internet, media and other subsidiaries. RCI expects to announce 1Q15 results on February 9, 2015.
- Total club and restaurant sales reached $36.1 million – a quarterly record – compared to $29.1 million in the year ago quarter.
- There were 44 units in 1Q15 versus 40 in 1Q14.
- Same store sales were $28.4 million compared to $27.3 million.
- Nine units generated more than $1 million in sales each versus four in the year ago quarter.
- Restaurants contributed 15.8% of sales compared to 5.6% in 1Q14.
CEO Comment
Eric Langan, President and CEO, commented, "We are very pleased Fiscal 2015 is off to a good start. In the first quarter, nearly all major brands achieved increases. Sales of units opened less than a year benefited from new adult clubs Vivid Cabaret New York in Manhattan and Rick's Cabaret in Odessa, TX; and from new Bombshells sports bars/restaurants in Texas in Austin, Webster, Spring and Houston.
"We look forward to an even stronger second quarter. Our clubs should benefit from big sporting events, such as the pro football championship in Phoenix and the pro basketball all-star game in New York. Bombshells' patio business should also benefit from warmer weather in Texas."
About RCI Hospitality Holdings, Inc. (NasdaqGM: RICK)
With 44 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.
