RCI Reports 4Q23 Club & Restaurant Sales And Share Buybacks; Sales For Its Nightclubs And Bombshells Restaurants Of $74.1M, An Increase Of 5.6% YoY, For Q4 Ended September 30, 2023
Portfolio Pulse from Benzinga Newsdesk
RCI Hospitality Holdings, Inc. (NASDAQ:RICK) reported a 5.6% YoY increase in Q4 sales for its Nightclubs and Bombshells restaurants, totaling $74.1 million. The increase was primarily due to acquisitions, partially offset by the effect of vacation travel and Texas heat. Nightclubs sales increased by 7.5% YoY, while Bombshells sales decreased by 2.2%. The company also repurchased 32,586 common shares for $2.13 million in 4Q23.
October 10, 2023 | 1:13 pm
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RCI Hospitality's Q4 sales increased by 5.6% YoY, driven by acquisitions. However, Bombshells sales decreased by 2.2%. The company also repurchased shares, which could indicate confidence in its stock.
The increase in sales, particularly in the Nightclubs segment, indicates a positive performance for RCI Hospitality. However, the decrease in Bombshells sales could be a concern. The share repurchase could indicate the company's confidence in its stock, potentially leading to a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100