{"id":385019,"date":"2020-11-19T08:33:18","date_gmt":"2020-11-19T13:33:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385019"},"modified":"2020-11-19T08:33:18","modified_gmt":"2020-11-19T13:33:18","slug":"rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/","title":{"rendered":"RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">HOUSTON<\/span>, <span class=\"xn-chron\">Nov. 19, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced first quarter Fiscal 2021 sales trends, current cash levels, and plans to double the number of company-owned locations of its Bombshells Restaurant &amp; Bar chain.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/321135\/rci_hospitality_holdings_inc_logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/321135\/rci_hospitality_holdings_inc_logo.jpg\" title=\"RCI Hospitality Holdings Corporate Logo (PRNewsFoto\/RCI Hospitality Holdings, Inc.)\" alt=\"RCI Hospitality Holdings Corporate Logo (PRNewsFoto\/RCI Hospitality Holdings, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Sales Trends &amp; Cash<\/b>\n      <\/p>\n<p>October sales for clubs and restaurants totaled <span class=\"xn-money\">$15.3 million<\/span>, their best monthly performance since April when all locations were closed due to government related Covid-19 measures. October sales were up 34% compared to September and equaled 97% of year ago October sales.<\/p>\n<p>During October, 47 of 48 locations were open (37 clubs and all 10 Bombshells). All locations continued to limit occupancy in accordance with coronavirus safety plans. Many clubs and restaurants continued to experience strong sales and a steady flow of business. Not all clubs operated at full schedules, in line with other restrictions. That included some of our biggest clubs in <span class=\"xn-location\">South Florida<\/span> and <span class=\"xn-location\">New York City<\/span>.<\/p>\n<p>As of today, the latest wave of Covid is leading to increased restrictions, including reduced occupancy levels and operating hours for some clubs, causing some to close temporarily. Currently, 32 clubs and all 10 Bombshells are open. If there are no additional closings or restrictions, November revenues should total around <span class=\"xn-money\">$11 million<\/span> to <span class=\"xn-money\">$12 million<\/span>. RCI currently has approximately <span class=\"xn-money\">$18 million<\/span> cash on hand.<\/p>\n<p>\n        <b>&#8220;The Next 10&#8221; Bombshells<\/b>\n      <\/p>\n<p>RCI plans to develop 10 new Bombshells over the next three years assuming it can find the right locations and structure the development of each in line with the company&#8217;s capital allocation strategy. The expansion is being launched due to the chain&#8217;s overall success since its 2013 founding, including its particularly strong performance through the coronavirus, Bombshells&#8217; ability to easily self-fund the new units, and a significantly improved market for accessing prime locations and\/or buying and leasing them at attractive prices.<\/p>\n<p>For the fourth fiscal quarter ended <span class=\"xn-chron\">September 30, 2020<\/span>, total Bombshells sales were <span class=\"xn-money\">$15.5 million<\/span>, up more than 80% year over year and 50% on a same-store basis. Since inception of the concept through Fiscal 2020, the cash on cash return of &#8220;The First 10&#8221; has met RCI&#8217;s capital allocation objectives and more than paid back all of the cash invested in them, including the cash invested in the four most recent locations, which opened in FY19 and FY20.<\/p>\n<p>RCI is currently negotiating leases or real estate purchases and bank financing for four of the proposed new locations. Target markets are <span class=\"xn-location\">Dallas-Fort Worth<\/span>, where the first Bombshells is located; <span class=\"xn-location\">Houston<\/span>, where there are eight Bombshells; and <span class=\"xn-location\">Miami<\/span>&#8211;<span class=\"xn-location\">Fort Lauderdale<\/span>, where RCI subsidiaries own two large nightclubs.<\/p>\n<p>\n        <b>Sidoti Virtual Investor Conference Today<\/b>\n      <\/p>\n<p>RCI plans to discuss the above developments in its presentation today at the Sidoti Virtual Investor Conference at <span class=\"xn-chron\">12:15 PM ET<\/span> \/ <span class=\"xn-chron\">11:15 AM CT<\/span>. To access the live webcast, slides, ask questions, and replay, visit: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2986958-1&amp;h=2738425496&amp;u=https%3A%2F%2Fsidoti.zoom.us%2Fwebinar%2Fregister%2FWN_iSrSEJllSs-KZB1Zw0fAPQ&amp;a=https%3A%2F%2Fsidoti.zoom.us%2Fwebinar%2Fregister%2FWN_iSrSEJllSs-KZB1Zw0fAPQ\" rel=\"nofollow noopener noreferrer\">https:\/\/sidoti.zoom.us\/webinar\/register\/WN_iSrSEJllSs-KZB1Zw0fAPQ<\/a>. Visit the webcast link in advance to pre-register or download any necessary software.<\/p>\n<p>\n        <b>About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)<\/b>\n      <\/p>\n<p>With more than 40 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country&#8217;s leading company in gentlemen&#8217;s clubs and sports bars\/restaurants. Clubs in <span class=\"xn-location\">New York City<\/span>, <span class=\"xn-location\">Chicago<\/span>, <span class=\"xn-location\">Dallas\/Ft. Worth<\/span>, <span class=\"xn-location\">Houston<\/span>, <span class=\"xn-location\">Miami<\/span>, <span class=\"xn-location\">Minneapolis<\/span>, <span class=\"xn-location\">St. Louis<\/span>, Charlotte, <span class=\"xn-location\">Pittsburgh<\/span>, and other markets operate under brand names such as Rick&#8217;s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars Club, Tootsie&#8217;s Cabaret, and Scarlett&#8217;s Cabaret. Sports bars\/restaurants operate under the brand name Bombshells Restaurant &amp; Bar. Please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2986958-1&amp;h=1629586667&amp;u=http%3A%2F%2Fwww.rcihospitality.com%2F&amp;a=http%3A%2F%2Fwww.rcihospitality.com%2F\" rel=\"nofollow noopener noreferrer\">http:\/\/www.rcihospitality.com\/<\/a>.<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the company&#8217;s actual results to differ materially from those indicated in this press release, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company&#8217;s businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) the impact and uncertainty of the coronavirus pandemic, and (vii) numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI&#8217;s annual report on Form 10-K for the year ended <span class=\"xn-chron\">September 30, 2019<\/span> and its latest Form 10-Q as well as its other filings with the U.S. Securities and Exchange Commission. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. <\/p>\n<p>\n        <b>Media &amp; Investor Contacts<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-person\">Gary Fishman<\/span> and <span class=\"xn-person\">Steven Anreder<\/span> at 212-532-3232 or <a target=\"_blank\" href=\"mailto:gary.fishman@anreder.com\" rel=\"nofollow noopener noreferrer\">gary.fishman@anreder.com<\/a>\u00a0and <a target=\"_blank\" href=\"mailto:steven.anreder@anreder.com\" rel=\"nofollow noopener noreferrer\">steven.anreder@anreder.com<\/a><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA97032&amp;sd=2020-11-19\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans-301177128.html\">http:\/\/www.prnewswire.com\/news-releases\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans-301177128.html<\/a><\/p>\n<p>SOURCE  RCI Hospitality Holdings, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA97032&amp;Transmission_Id=202011190830PR_NEWS_USPR_____DA97032&amp;DateId=20201119\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire HOUSTON, Nov. 19, 2020 \/PRNewswire\/ &#8212;\u00a0RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced first quarter Fiscal 2021 sales trends, current cash levels, and plans to double the number of company-owned locations of its Bombshells Restaurant &amp; Bar chain. Sales Trends &amp; Cash October sales for clubs and restaurants totaled $15.3 million, their best monthly performance since April when all locations were closed due to government related Covid-19 measures. October sales were up 34% compared to September and equaled 97% of year ago October sales. During October, 47 of 48 locations were open (37 clubs and all 10 Bombshells). All locations continued to limit occupancy in accordance with coronavirus safety plans. Many clubs and restaurants continued to experience strong &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-385019","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire HOUSTON, Nov. 19, 2020 \/PRNewswire\/ &#8212;\u00a0RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced first quarter Fiscal 2021 sales trends, current cash levels, and plans to double the number of company-owned locations of its Bombshells Restaurant &amp; Bar chain. Sales Trends &amp; Cash October sales for clubs and restaurants totaled $15.3 million, their best monthly performance since April when all locations were closed due to government related Covid-19 measures. October sales were up 34% compared to September and equaled 97% of year ago October sales. During October, 47 of 48 locations were open (37 clubs and all 10 Bombshells). All locations continued to limit occupancy in accordance with coronavirus safety plans. Many clubs and restaurants continued to experience strong &hellip; Continue reading &quot;RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-19T13:33:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/321135\/rci_hospitality_holdings_inc_logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans\",\"datePublished\":\"2020-11-19T13:33:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\\\/\"},\"wordCount\":784,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/321135\\\/rci_hospitality_holdings_inc_logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\\\/\",\"name\":\"RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans - 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(Nasdaq: RICK) today announced first quarter Fiscal 2021 sales trends, current cash levels, and plans to double the number of company-owned locations of its Bombshells Restaurant &amp; Bar chain. Sales Trends &amp; Cash October sales for clubs and restaurants totaled $15.3 million, their best monthly performance since April when all locations were closed due to government related Covid-19 measures. October sales were up 34% compared to September and equaled 97% of year ago October sales. During October, 47 of 48 locations were open (37 clubs and all 10 Bombshells). All locations continued to limit occupancy in accordance with coronavirus safety plans. Many clubs and restaurants continued to experience strong &hellip; Continue reading \"RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-19T13:33:18+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/321135\/rci_hospitality_holdings_inc_logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans","datePublished":"2020-11-19T13:33:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/"},"wordCount":784,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/321135\/rci_hospitality_holdings_inc_logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/rci-announces-1q21-sales-trends-current-cash-levels-and-bombshells-expansion-plans\/","name":"RCI Announces 1Q21 Sales Trends, Current Cash Levels, and Bombshells Expansion Plans - 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