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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) 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.