RCI Hospitality Holdings, Inc. Reported Sales For Its Nightclubs And Bombshells Restaurants Of $73.3M, An Increase Of 5.9% YoY, For Q1 Ended December 31, 2023
Portfolio Pulse from Benzinga Newsdesk
RCI Hospitality Holdings, Inc. (NASDAQ:RICK) reported a 5.9% YoY increase in sales for its Nightclubs and Bombshells restaurants, totaling $73.3 million for Q1 ended December 31, 2023. Nightclubs sales rose by 8.4%, while Bombshells sales declined by 4.6%. The company noted an improvement in same-store sales trends and is exploring strategic opportunities for Bombshells. Full financial results are expected before February 9, 2024.
January 09, 2024 | 2:09 pm
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RCI Hospitality reported a 5.9% increase in sales for Q1, with Nightclubs performing strongly and Bombshells experiencing a sales decline. The company is optimistic about the improvement in same-store sales and is considering strategic options for Bombshells.
The reported increase in sales, particularly the strong performance of the Nightclubs segment, is likely to be viewed positively by investors. The decline in Bombshells sales is a concern, but the company's proactive approach to exploring strategic opportunities may mitigate negative sentiment. The overall positive sales growth and the anticipation of full financial results could lead to a short-term positive impact on RICK's stock price.
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