Reported Earlier, RCI Reports Q3 2023 Sales For Its Nightclubs And Bombshells Restaurants Of $76.4M, Up 8.9% YoY
Portfolio Pulse from Happy Mohamed
RCI Hospitality Holdings, Inc. (NASDAQ:RICK) reported Q3 2023 sales of $76.4 million for its Nightclubs and Bombshells restaurants, an 8.9% YoY increase. Nightclubs sales increased by 14.1% YoY to $62.0 million, while Bombshells sales declined by 9.0% YoY to $14.4 million. The company expects new projects and acquisitions to contribute to sales in 4Q23 and FY24.
July 11, 2023 | 5:03 pm
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RCI Hospitality's Q3 2023 sales increased by 8.9% YoY, driven by a 14.1% increase in Nightclubs sales. However, Bombshells sales declined by 9.0% YoY. The company expects new projects and acquisitions to boost sales in the coming quarters.
The increase in sales for RCI Hospitality's Nightclubs segment indicates strong performance, which could positively impact the company's stock price. However, the decline in Bombshells sales could be a concern for investors. The company's expectation of sales growth from new projects and acquisitions could also positively influence the stock price.
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