HOUSTON, April 9, 2015 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (NasdaqGM: RICK) today announced total sales at adult clubs and restaurant/bars for the second fiscal quarter ended March 31, 2015. RCI expects to announce 2Q15 results on May 11, 2015.
- Total club and restaurant sales reached $36.7 million – a quarterly record – compared to $32.6 million in the year ago quarter.
- Same store sales were $29.1 million compared to $28.5 million in the year ago quarter.
- There were 44 units in 2Q15 (39 adult clubs and nightclubs and 5 restaurants) versus 43 in 2Q14 (41 adult clubs and nightclubs and 2 restaurants).
- Nightclub segment sales (includes adult clubs and nightclubs) totaled $31.9 million compared to $31.2 million in 2Q14.
- Bombshells segment sales totaled $4.8 million compared to $1.4 million in 2Q14.
CEO Comment
Eric Langan, President and CEO, commented, "We are very pleased Fiscal 2015 continues to perform well, in line with our plans. Average revenue per unit increased 10.2% year over year. This reflected the closing of four older, under-performing units and the addition of five with higher revenues.
"Units opened less than a year benefited from new adult clubs – Rick's Cabaret in Odessa, TX and the recently acquired Down in Texas Saloon in Austin, TX. New store sales also benefited from Bombshells in Austin, Spring and Houston, TX.
"Same store sales reflected growth at many clubs. This was partially offset by adverse weather in March, especially in the Dallas-Fort Worth market, where the company has 11 locations. New York City units had difficult comparisons to the year ago quarter, when the pro football championship was played locally."
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 restaurant/bars. 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." Restaurant/bars 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.
