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April 10, 2019

RCI reports total club and restaurant sales up by 8.2% in 2Q19

US-based RCI Hospitality Holdings has reported an 8.2% increase in total club and restaurant sales to $44.1m for the second quarter (2Q19) ending 31 March 2019.

US-based RCI Hospitality Holdings has reported an 8.2% increase in total club and restaurant sales to $44.1m for the second quarter (2Q19) ending 31 March 2019.

Consolidated same-store sales were down by 2.8% to $38.8m compared to $39.9m the prior year.

Total sales of the company’s nightclubs were up by 4% to $36.6m, compared to $35.2m while the same-store sales of its nightclubs were down by 1.2% to $33.9m compared to $34.3m in 2018.

In addition, the company’s Bombshells restaurants reported a 34.4% increase in total sales to $7.5m, compared to $5.6m, and a 12.7% decline in same-store sales to $4.9m, compared to $5.6m during the prior year.

RCI Hospitality president and CEO Eric Langan said: “New Nightclubs and Bombshells restaurants performed very well in Q219, helping to generate record total club and restaurant sales in what we knew would be a tough quarter for same-store sales.

“While Bombshells same-store sales are still rebounding from year-ago levels, we are making noticeable progress, significantly reducing the percentage decline from its low in 4Q18.”

“Nightclubs same-store sales were up against strong year-ago increases from our three large Minneapolis clubs due to high traffic from the pro football championship there, whereas the big game was not in any of our markets in 2Q19. However, it will be in North Miami next year near two of our largest locations.

“While Bombshells same-store sales are still rebounding from year-ago levels, we are making noticeable progress, significantly reducing the percentage decline from its low in 4Q18.”

New clubs added approximately $2.5m from the November 2018 Pittsburgh and Chicago acquisitions and the acquisition of a smaller club in Kappa in May 2018.

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.

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