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RCI Reports 2Q24 Sales, Development Updates & Share Buybacks; Holding X Spaces Call at 4:30 PM ET Today
HOUSTON, April 9, 2024 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (NASDAQ:RICK) reported sales for its Nightclubs and Bombshells restaurants for the fiscal second quarter ended March 31, 2024 of $71.7 million, an increase of 1.3% or $0.9 million compared to the year-ago period. Sales do not include non-core operations and are subject to final closing. Full 2Q24 financial results are expected by May 9, 2024.
RCI is holding a related conference call on X Spaces at 4:30 PM ET. The call is being hosted by RCI President & CEO Eric Langan, CFO Bradley Chhay, and Mark Moran of Equity Animal. Links to the call and presentation will be available at https://www.rcihospitality.com/investor-relations/. To ask questions during Q&A, you need to use a mobile phone. To listen only, you can use a computer. If you haven't done so, sign up for X as there will be no telephone or webcast access.
Eric Langan, President & CEO of RCI, said: "During 2Q24, increases in sales from last year's acquisitions and new locations more than offset year-over-year declines in same-store sales and from clubs in transition. While we continue to work at improving SSS, we have made noticeable progress with our development schedule, acquisitions, capital management, and share buybacks."
Sales
Nightclubs: Sales totaled $59.0 million, an increase of 4.2% or $2.4 million year-over-year. 2Q24 reflected increases of $7.4 million from acquisitions not in SSS. 2Q24 also reflected declines of 5.7% or $2.9 million in SSS and of $2.1 million from clubs reopened, reformatted or closed during or prior to the quarter.
Bombshells: Sales totaled $12.8 million, a decline of 10.4% or $1.5 million year-over-year. 2Q24 reflected increases of $1.2 ...