RCI Hospitality Holdings Reports First Quarter Sales for Clubs and Restaurants
RCI Hospitality Holdings' 1Q25 Sales Report
RCI Hospitality Holdings, Inc., listed on Nasdaq under the ticker RICK, has unveiled its financial performance for the first fiscal quarter ending December 31, 2024. The company has specifically detailed the sales figures from its core operations in clubs and restaurants, marking a pivotal point in its business trajectory.
In recent updates, Eric Langan, President and CEO of RCI, expressed satisfaction regarding the year-over-year performance of same-store sales at nightclubs, which have seen an increase for the third consecutive quarter. However, it's important to note that the total sales for Bombshells, another brand under the company's umbrella, have seen a significant decline. This downturn reflects the earlier announced divestiture and the closure of several underperforming locations.
The detailed sales figures for the first quarter are as follows:
| Category | 1Q25 Sales ($M) | Change vs. 1Q24 | Same-Store Sales Change vs. 1Q24 |
|---|---|---|---|
| --- | --- | ---- | ------- |
| Nightclubs | $61.3 | +1.2% | +3.7% |
| Bombshells | $9.6 | -24.7% | -7.5% |
| Combined | $70.9 | -3.3% | +2.3% |
The positive sales in the nightclub segment can be attributed to several factors. RCI has opened three new and rebranded clubs in Texas, which have proven successful. Additionally, the absence of a nightclub that was affected by a fire incident in July 2024 has contributed to the improved same-store sales performance.
In the Bombshells segment, the decline is largely due to the strategic decision to dispose of five locations during the fourth quarter of 2024 and the first quarter of 2025. Furthermore, the Stafford, Texas location, which began operations in mid-November 2023, accounted for a full quarter of reporting, but it wasn’t sufficient to offset lower sales figures elsewhere.
It is worth mentioning that the sales data presented here does not account for revenues from non-core operations. These include third-party rents and other revenue streams from different sectors under RCI's portfolio. The company is set to disclose full financial results for 1Q25 by February 10, 2025, offering a more comprehensive view of its fiscal health.
As RCI Hospitality continues to navigate its operational landscape, understanding the trends in both its nightclub and restaurant segments will be crucial. The fluctuating performances highlight the complexities of managing a diversified portfolio in the hospitality industry, especially in the aftermath of previous economic disruptions and changing consumer preferences.
Overall, RCI Hospitality Holdings maintains a significant footprint in the adult entertainment and dining industries, boasting more than 60 locations. Stakeholders will be monitoring the forthcoming reports closely to gauge the company's strategic directions and operational adjustments in response to the evolving market dynamics.
For more details about RCI Hospitality and its offerings, you can visit www.rcihospitality.com.
Topics Consumer Products & Retail）
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