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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 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.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will file its 10-Q financial results for Fiscal 3Q20, ending June 30, 2020, after market close on August 10, 2020. A conference call is scheduled for the same day at 4:30 PM ET, with details for participation provided. RCI, operating over 40 units, is a leader in gentlemen's clubs and sports bars/restaurants across major U.S. cities. The company highlights potential risks such as operating adult businesses, competition, and the impact of COVID-19 on its operations.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced its 3Q20 sales, reporting total revenues of $14.3 million for the fiscal quarter ending June 30, 2020. This marks a decline from $46.2 million during the same quarter in 2019. The company faced challenges due to the coronavirus pandemic, resulting in the closure of all 48 locations in April 2020. Sales from Bombshells reached $8.5 million, while Nightclubs generated $5.8 million. As of the quarter's end, 29 locations were operational under COVID-19 restrictions. CEO Eric Langan emphasized resilience and customer loyalty amid ongoing challenges.
RCI Hospitality Holdings (Nasdaq: RICK) announced several reopenings and closings of its subsidiary locations due to evolving COVID-19 regulations.
In Illinois, Rick's Cabaret Chicago and Kappa Men's Club reopened on June 26 at 25% capacity. However, nine Texas locations closed due to new state restrictions, and Rick's Cabaret Pittsburgh will close due to local regulations. CEO Eric Langan expressed confidence with an anticipated cash reserve of $12-$13 million by June 30 and noted an increase in weekly revenues, from $500,000 in May to $2.4 million by late June.