Welcome to our dedicated page for Rci Hospitality news (Ticker: RICK), a resource for investors and traders seeking the latest updates and insights on Rci Hospitality stock.
RCI Hospitality Holdings, Inc. reports company developments for an operating business built around adult nightclubs and Bombshells sports bars-restaurants. Updates commonly cover quarterly and annual results, segment sales, same-store performance, club acquisitions and openings, location closures or reformatting, and revenue mix across service, alcoholic beverages, food, merchandise, and other categories.
Recurring releases also address capital allocation, including cash dividends and share repurchase authorizations, as well as SEC report timing, Nasdaq compliance notices, and conference-call materials tied to Form 10-K and Form 10-Q filings. The company’s disclosures distinguish nightclub operations from the Bombshells restaurant and sports-bar concept and may exclude non-core operations from preliminary sales releases.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported a strong October with sales of $15.3 million, a 34% increase from September and just 3% shy of last year’s figures. Currently, the company has $18 million in cash. It plans to double its Bombshells Restaurant & Bar locations, aiming for ten new units in three years, capitalizing on favorable market conditions. Despite some clubs facing temporary closures due to COVID-19 restrictions, November revenue is projected between $11 million and $12 million.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will present at the Sidoti Virtual Investor Conference on November 19, 2020, at 12:15 PM ET. CEO Eric Langan will lead the presentation, with Bradley Chhay, CFO, and Ryan Parker, Director of Financial Planning and Analysis, participating in the Q&A session. Investors can schedule virtual 1x1 meetings with management. The presentation aims to provide insights into RCI's business growth within the gentlemen's clubs and sports bars sector.
On November 11, 2020, Bombshells Restaurant & Bar in Texas will honor veterans and active service members by offering free meals and soft drinks. Families accompanying the service members will benefit from a 20% discount. To qualify, service members must present a valid military ID. The restaurant chain, part of RCI Hospitality Holdings (Nasdaq: RICK), emphasizes safety with Covid-19 measures in place. Each location will also set a 'Missing Man Table' to pay tribute to fallen soldiers. This initiative reflects Bombshells' commitment to recognizing military service amidst the ongoing pandemic.
RCI Hospitality Holdings, Inc. (RICK) reported a significant rebound in sales for the 4Q20 fiscal year, with total sales reaching $28.4 million, up 98.5% from 3Q20. Bombshells restaurants contributed $15.5 million in sales, reflecting an increase of 82.1%. Nightclubs generated $12.9 million, a 122.7% rise. For FY20, total sales were $130.3 million. As of the report, 46 of 48 locations were operational, significantly aiding recovery post-Covid closures. The company plans to file its full financial results by December 14.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced the settlement of a civil administrative proceeding with the SEC on September 22, 2020. CEO Eric Langan and former CFO Phillip Marshall were involved in the settlement, agreeing to a cease-and-desist order without admitting or denying findings related to the Securities Exchange Act. The company will pay a civil penalty of $400,000, while Langan and Marshall will pay $200,000 and $35,000, respectively. The SEC acknowledged RCI’s cooperation and implemented internal controls to enhance compliance and governance.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has appointed Bradley Chhay as the new Chief Financial Officer, effective immediately, following Phillip Marshall's 13-year tenure. Mr. Marshall, who will continue with the company, has played a key role in RCI's financial foundation. Mr. Chhay, with nearly 15 years in finance, will oversee financial functions, corporate strategy, and mergers and acquisitions. His prior experience includes roles at RigNet and Live Nation Entertainment. RCI operates over 40 clubs and restaurants nationwide.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported continued sales improvement for August 2020, with club and restaurant revenues reaching $9.4 million, a 23% increase over July's $7.6 million. Weekly revenue averaged $2.2 million, up 22% from July. The company now operates 34 locations, a rise from 31 on August 10, as government restrictions eased. All Bombshells locations reopened, and two mid-sized clubs in Phoenix and Pittsburgh also resumed operations. RCI plans to discuss these developments at the LD Micro 500 Investor Conference today.
RCI Hospitality Holdings has declared a quarterly cash dividend of $0.04 per common share for the fourth quarter of fiscal 2020, consistent with the previous year's amount. This dividend is payable on September 28, 2020, to shareholders on record as of September 15, 2020, with an ex-dividend date of September 14, 2020. With this announcement, RCI marks its 19th consecutive quarterly cash dividend. Total dividends for FY20 will rise to $0.14 per share, a 7.7% increase from $0.13 in FY19.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will present at the LD Micro 500 virtual investor conference on September 4, 2020, at 2:00 PM ET. CEO Eric Langan will be accompanied by Controller Bradley Chhay and Director of Capital Markets Ryan Parker during the Q&A session. Attendees can register for the live webcast and access presentation materials. RCI Hospitality operates over 40 venues across major U.S. cities, focusing on gentlemen's clubs and sports bars. The event aims to connect microcap companies with investors.
RCI Hospitality Holdings reported Q3 financial results impacted by the Covid-19 pandemic. Total revenues fell to $14.7 million, with $156,000 in April, $5.7 million in May, and $8.9 million in June. The net loss attributable to shareholders was $5.5 million or $0.60 per share. Despite challenges, the company noted positive operating cash flow of $166,000 and cash reserves of $14.8 million. Bombshells restaurants achieved a 22.3% operating margin. Currently, 31 locations are operational, and July revenues reached $7.6 million.