Restaurant sales

RCI announces 2Q22 club and restaurant sales; Continued strong performance

  • Total club and restaurant sales: RCI reported total club and restaurant sales of $63.0 million and $124.2 million for the second quarter and first six months of FY22, respectively.
  • Record $24 million March sales: While January was affected by Omicron and February by bad weather, March was a record month, with approximately $24 million in sales.
  • Improved October Acquisitions: The 11 acquired clubs added $8.4 million in sales or around 93% of their pre-COVID, Jan-March 2019 sales and 95% of their March 2019 Sales.
  • Northern clubs bounce back: Sales at eight northern clubs (excluding recent acquisitions) hit a 12-month high in March. These clubs, which traditionally do significant VIP business, have been hit the hardest by past COVID restrictions.
  • Other new locations are doing well: Another club acquired in November and the Bombshells which opened in December also continued to perform well in 2Q22.
  • Share buybacks in progress: Over 55,000 shares have been purchased during 2Q22 and 3Q22 to date, for approximately $3.4 millioni.e. an average of $62.02 per share.
  • Sales of non-income generating properties: A surplus parcel of real estate was sold for $2.1 million in 2Q22. Two others under contract for sale, for a total of $7.7 millionare expected to close by the end of FY22.
  • New and reopened locations: Scarlett’s Cabaret Louisiana (formerly Temptations) opened in late 2Q22. Another rebranded/reformatted club and first Bombshells franchise set to open in San Antonio in 3Q22. During 2Q22, a property of the 12th Bombshells company was acquired through bank financing.
  • Leverage new technologies to generate traffic in clubs: Tootsie’s and Scarlett’s Cabarets at Miami became the first clubs in the company in March to accept Bitcoin. Later in 3Q22, RCI plans to launch the AdmireMe fan site and create the non-fungible token (NFT) Tip-N-Strip guest benefits program.

(in millions of dollars)

Total 2Q22 sales

Total sales vs. 2Q21

Same-store sales vs. 2Q21*













*Eight clubs were not included in the SSS calculations because they were not open enough days in the previous year’s quarter.

(in millions of dollars)

Total sales 6M22

Total sales vs 6M21

Same-store sales vs 6M21













To note: The COVID pandemic first impacted RCI’s 2Q20 sales when all locations had to close mid-March 2020. Bombs and some nightclubs have started to reopen May 2020. Not all nightclubs were fully reopened to full operating hours until 4Q21. All references to “RCI Hospitality Holdings, Inc.”, “the company”, “we”, “our” and similar terms refer to RCI and/or its affiliates, unless the context otherwise requires.

About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)

With more than 50 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the national leader in gentlemen’s clubs and sports bars/restaurants. clubs in New York City, Chicago, Dallas-Fort Worth, Houston, Miami, Minneapolis, denver, Saint Louis, Charlotte, Pittsburgh, Raleigh, Louisville, and other markets operate under brands such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars Club, Tootsie’s Cabaret, and Scarlett’s Cabaret. Sports bars/restaurants operate under the Bombshells Restaurant & Bar brand.

FForward-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, including, but not limited to, risks and uncertainties associated with (i) operating and managing a mature business, (ii) the business climate in the cities in which it operates, (iii) the success or failure of launching and growing the business of the business, (iv) cybersecurity, (v) conditions relating to real estate transactions, (vi) the impact of the COVID-19 pandemic, and (vii) many other factors such as laws governing the operation of businesses adult entertainment industry, competition and dependence on key personnel. For a more detailed discussion of these factors and certain risks and uncertainties, see RCI’s Annual Report on Form 10-K for the year ended. September 30, 2021, as well as its other filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements to reflect the occurrence of future events or circumstances.

Media and investor contacts

Gary Fishman and Steven Andreder at 212-532-3232 or [email protected] and [email protected]

SOURCE RCI Hospitality Holdings, Inc.