Restaurant sales

RCI sets new record for total quarterly club and restaurant sales of $56.7 million in 3Q21

HOUSTON, July 8, 2021 /PRNewswire/ — RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced sales of its Nightclubs and Bombshells restaurants for the third quarter of fiscal 2021 ended June 30, 2021. The results reflect a continued rebound from the COVID-19 pandemic.

3T21 vs. 3T20

  • Total club and restaurant sales: $56.7 million compared to $14.3 million (+296.0%)
  • Total nightclub sales: $40.6 million compared to $5.8 million (+602.1%)
  • Total Bombshell Sales: $16.1 million compared to $8.5 million (+88.4%)
  • There is no comparable store sales comparison for the quarter as no stores were open enough days in 3Q20 to qualify

3Q21 vs. 3Q19

*For illustrative purposes, the following compares 3Q21 data to 3Q19 data to provide a better understanding of sales trends over the past two years given the significant impact of the pandemic in 3Q20.

  • Total club and restaurant sales: $56.7 million compared to $46.2 million (+22.6%)
  • Total same-store club and restaurant sales*: $53.0 million compared to $45.2 million (+17.2%)
  • Total nightclub sales: $40.6 million compared to $37.5 million (+8.4%) on 36 units vs 38
  • Same-store sales in nightclubs*: $40.6 million compared to $36.5 million (+11.3%)
  • Total Bombshell Sales: $16.1 million compared to $8.8 million (+83.6%) out of 10 units vs 8
  • Explosive same-store sales*: $12.4 million compared to $8.8 million (+41.6%)

CEO Commentary

Eric LanganPresident and Chief Executive Officer, said, “We are very pleased to set a new record for total quarterly club and restaurant sales in $56.7 million in the June quarter, reflecting new quarterly sales records for our Nightclubs segment with $40.6 million and our Bombshells segment with $16.1 million.

“In May, RCI recorded the highest monthly club and restaurant sales in company history, followed by June and then March. Total same-store club and restaurant sales for 3Q21 compared in 3Q19 increased by 17.2% trends given the significant impact of the pandemic in 3Q20.

“We believe the continued sequential quarterly improvement in total club and restaurant sales reflects the elimination of all restrictive curfews and occupancy restrictions at our northern clubs by early June and the continued return of our loyal clientele, all of whom generally benefit from increased vaccinations.

“About 43% of the clubs sequential quarterly improvement came from our northern sites, about 30% from our clubs in the Texasand approximately 27% of our sites in Florida and other areas. All Bombshells sites generated sequential double-digit increases in quarterly sales.

“We greatly appreciate the loyalty of our customers. A special thank you to our team members for making it all possible. We urge all customers to get vaccinated so that we can remain open to serve you and maintain the work of our members team.”

RCI expects to publish its 3Q21 financial results by August 9.

Remarks

  • Sales do not include non-essential transactions and are preliminary and subject to final closing.
  • The number of units is at the end of the period.
  • 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 40 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/Ft. Value, Houston, Miami, Minneapolis, Saint LouisCharlotte, Pittsburgh, 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. 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, but not limit thereto, the risks and uncertainties associated with (i) operating and managing an adult business, (ii) the business climate in the cities in which it operates, (iii) the success or failure of launching and developing 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 adult entertainment businesses, 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, 2020, 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.

Related links

http://www.rcihospitality.com