RCI Hospitality reports rise in total club and restaurant sales

10th July 2019 (Last Updated July 11th, 2019 09:14)

RCI Hospitality Holdings reports total club and restaurant sales up by 9.9% in 2019.

US-based RCI Hospitality Holdings has reported a 9.9% increase in total club and restaurant sales to $46.2m for the third quarter (3Q19) ending 30 June 2019.

Consolidated same-store sales were down by 1.4% to $39.1m compared to $39.6m for the corresponding period the prior year.

Total sales of its nightclubs brand increased 7.2% to $37.5m, compared to $34.9m the prior year while the same-store sales of the brand increased by 0.1% to $34.2m.

In addition, the company’s Bombshells brand reported a 23% increase in total sales to $8.8m, compared to $7.1m the prior year while same-store sales of the brand was down 10.6% to $4.9m.

RCI Hospitality president and CEO Eric Langan said: “New Nightclubs and Bombshells restaurants continued to perform very well in 3Q19, helping to generate record total club and restaurant sales.

“Looking at same-store sales, Nightclubs were slightly ahead year-over-year, which was particularly impressive given that it was on top of Q318’s 5.1% increase, while Bombshells continued to rebound, crossing over into positive year-over-year monthly comparisons in June 2019 for the first time in 12 months.

“During Q319, we also sold or leased four more non-income producing-properties in line with our capital allocation strategy. We hope to conclude the sale or lease of remaining non-income-producing properties by year-end FY19 or early FY20.”

RCI subsidiaries own more than 40 Gentlemen’s clubs, sports bars and restaurants across the US including New York City, Miami, Charlotte, Houston, Minneapolis and St. Louis.

Brands include Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars, Tootsie’s Cabaret, and Scarlett’s Cabaret.