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. (Nasdaq: RICK) is a multi‑location operator of adult nightclubs and sports bar‑restaurant concepts in the arts, entertainment, and recreation sector. Through its Nightclubs, Bombshells, and Other segments, the company reports that it has more than 60 locations and describes itself as the country’s leading company in adult nightclubs and sports bars‑restaurants. The news flow around RCI provides insight into sales trends, portfolio changes, financing decisions, and legal developments affecting the business.
On this page, readers can follow RICK stock news related to quarterly and annual club and restaurant sales updates, including separate figures for Nightclubs and Bombshells, same‑store sales performance, and contributions from newly acquired or opened locations. RCI’s releases often highlight acquisitions of clubs in new markets, openings of Bombshells units in cities such as Denver and Lubbock, reformatting of existing venues like XTC 2.0 in Dallas, and the closing or divestiture of underperforming or non‑income producing properties.
News coverage also includes information on RCI’s “Back to Basics” 5‑Year Capital Allocation Plan, which the company links to asset sales, debt management, share repurchases, partnerships with experienced club operators, and development projects such as new Bombshells locations and the rebuilding or renovation of club properties. Investors can see how these actions relate to free cash flow, debt levels, and share count over time, as described in company communications.
In addition, RCI issues releases on recurring cash dividends, changes in executive leadership, and legal matters such as the New York state indictment involving the company, certain executives, employees, and New York City club subsidiaries. Together, these updates provide a detailed view of operational performance, capital allocation, governance, and regulatory context for RCI Hospitality Holdings, Inc.
RCI Hospitality Holdings (Nasdaq: RICK) has declared its 36th consecutive quarterly cash dividend of $0.07 per common share for the fiscal 2025 first quarter ending December 31, 2024. The dividend will be paid on December 30, 2024, to shareholders of record as of December 16, 2024. This continuation of quarterly dividends demonstrates the company's commitment to shareholder returns since initiating the dividend program in fiscal 2Q16.
RCI Hospitality Holdings (Nasdaq: RICK) announced that its Bombshells Restaurant & Bar locations in Texas will offer a free entree to veterans on Veterans Day, November 11, 2024. Veterans and active service members must present valid military ID to qualify. The offer includes a 20% discount on other items for veterans, and the same discount applies to families accompanying veterans or active service members. The promotion excludes alcoholic beverages and cannot be used for rain checks, gift cards, or take-out. Throughout the year, veterans and active service members receive a 20% discount on non-alcoholic items.
RCI Hospitality Holdings (Nasdaq: RICK) announced strategic moves to enhance its Bombshells segment performance by closing two underperforming leased locations in Texas - Bombshells Spring and Bombshells Houston-South. Additionally, the company plans to sell its Bombshells Austin location in Pflugerville. Financial details related to these divestitures will be disclosed in the upcoming fourth quarter and year-end results report, expected by December 16, 2024.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported club and restaurant sales for fiscal 4Q24 and FY24 ended September 30, 2024. Nightclub sales in 4Q24 were $60.2 million, down 0.5% year-over-year, with same-store sales up 2.2%. Bombshells sales in 4Q24 were $11.9 million, down 12.2% year-over-year, with same-store sales down 16.2%. Combined 4Q24 sales were $72.1 million, down 2.6% year-over-year.
For FY24, nightclub sales increased 3.1% to $242.2 million, while Bombshells sales decreased 9.1% to $50.5 million. The company repurchased 174,790 shares for $7.8 million in 4Q24 and 442,639 shares for $20.6 million in FY24. RCI plans to open six more club and restaurant locations in fiscal 2025, including rebuilding Baby Dolls Fort Worth, which was destroyed by fire in July.
RCI Hospitality Holdings (Nasdaq: RICK) is set to participate in the H.C. Wainwright 26th Annual Global Investment Conference from September 9-11, 2024, in New York City. The event, held at the Lotte New York Palace Hotel, will feature both in-person and virtual presentations from over 550 companies.
CEO Eric Langan will engage in one-on-one meetings with investors and present on Wednesday, September 11, at 12 PM ET. Langan will discuss RCI's 'Back to Basics' strategy, focusing on the company's adult nightclubs business and capital allocation approach. Institutional investors interested in attending can register at www.hcwevents.com/annualconference.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has announced a 16.7% increase in its quarterly cash dividend for the fiscal 2024 fourth quarter ending September 30, 2024. The dividend has been raised from $0.06 to $0.07 per common share. This increased dividend will be payable on September 30, 2024, to shareholders of record as of the close of business on September 16, 2024. This move demonstrates the company's confidence in its financial position and commitment to returning value to shareholders.
RCI Hospitality Holdings (Nasdaq: RICK) announced major wins at the Annual Gentlemen's Club EXPO in Dallas. Scarlett's Cabaret Miami was named "Overall Club of the Year", while Country Rock Cabaret St. Louis won "Small Club of the Year" in the Midwest Region. Additionally, Heidi Santanello of Diamond Cabaret St. Louis was honored as "General Manager of the Year".
These awards, based on voting by approximately 3,000 industry professionals, highlight RCI's excellence in hospitality and entertainment. Scarlett's Cabaret Miami, opened in 1998, is renowned as a premier South Florida cabaret/nightclub hybrid with a top-rated steakhouse. Country Rock St. Louis offers a relaxed atmosphere near downtown, while Santanello's 33-year industry experience contributes to her success as a compassionate and dedicated GM.
RCI Hospitality Holdings (Nasdaq: RICK) reported fiscal 2024 third quarter results for the period ended June 30, 2024. Key highlights include:
- Total revenues of $76.2 million, down slightly from $77.1 million in 3Q23
- Net loss of $5.2 million compared to net income of $9.1 million in 3Q23
- Non-GAAP EPS of $1.35, up from $1.30 in 3Q23
- Free cash flow of $13.8 million, down from $14.3 million in 3Q23
The company repurchased 202,630 shares for $9.2 million in 3Q24 and an additional 133,244 shares for $6.0 million after quarter-end. Nightclubs segment revenue increased 0.6% to $62.8 million, while Bombshells segment revenue decreased 8.7% to $13.1 million. The company recorded non-cash impairments of $17.9 million related to clubs and Bombshells locations.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has announced plans to release its fiscal 2024 third quarter financial results on Thursday, August 8, 2024, after market close. The company will host an exclusive X Spaces conference call to discuss the results, featuring CEO Eric Langan, CFO Bradley Chhay, and Mark Moran of Equity Animal.
Key points:
- 10-Q filing and financial results for the quarter ended June 30, 2024
- X Spaces call link provided (X login required)
- Presentation available on RCI Hospitality website
- Q&A participation requires joining via mobile device
- Listen-only option available on computers
- No alternative telephone or webcast access
RCI Hospitality Holdings (RICK) reported its fiscal third-quarter 2024 sales. Nightclubs saw a 0.7% YoY increase to $62.4 million, driven by a 1.7% same-store sales growth and new club openings. Bombshells experienced an 8.9% YoY decline to $13.1 million due to a 16.2% same-store sales decrease. Total combined sales dipped by 1.1% YoY, totaling $75.5 million. Sequentially, Nightclubs and Bombshells reported sales increases of 5.9% and 2.7%, respectively. RCI also announced a $25 million increase in its share buyback program, the withdrawal of its Colorado casino license applications, and an update on post-Hurricane Beryl operations. CEO Eric Langan emphasized the company's focus on core businesses, cost-cutting, and optimizing locations. RCI opened two new locations in FY24 and is working on five more openings. Full 3Q24 financial results are expected by August 8, 2024.