RCI Reports 4Q24 Club & Restaurant Sales and Share Buybacks
Nightclubs: Total 4Q24 sales of
- 2.2% same-store sales growth, which was negatively impacted by ten closure days at three clubs in the
Houston area due to Hurricane Beryl in July - Sales from three new and reformatted clubs in
Texas (Harlingen ,Lubbock , andTye ) - The temporary closing of two clubs in
Texas for most of the quarter (Baby Dolls Fort Worth due to fire in early July and a location inEl Paso until it reopened as a Chicas Locas BYOB bikini bar in late September) - The transition of two clubs to new formats and/or hours to accommodate recent restrictions on
Dallas businesses (Dallas Showclub andSilver City Cabaret )
Bombshells: Total 4Q24 sales of
- 16.2% same-store sales decline, which was negatively impacted by 26 closure days at five locations in the
Houston area due to Hurricane Beryl in July - New sales from the
Stafford location, which opened inNovember 2023 , partially offset by a decline in sales from theSan Antonio location, which was sold at the beginning of September
Share Repurchases
- 4Q24: RCI repurchased 174,790 common shares for
$7.8 million (average$44.81 per share), resulting in 8,955,000 shares of common stock outstanding and$21.0 million in remaining purchase authorization. - FY24: RCI repurchased 442,639 shares for
$20.6 million (average$46.55 per share).
Club & Restaurant Sales ($ in Millions)
4Q24 |
Total Sales |
Total Sales vs. 4Q23 |
Same-Store Sales vs. 4Q23 |
Nightclubs |
|
-0.5 % |
+2.2 % |
Bombshells |
|
-12.2 % |
-16.2 % |
Combined |
|
-2.6 % |
-1.1 % |
FY24 |
Total Sales |
Total Sales vs. FY23 |
Same-Store Sales vs. FY23 |
Nightclubs |
|
+3.1 % |
-2.1 % |
Bombshells |
|
-9.1 % |
-18.4 % |
Combined |
|
+0.7 % |
-5.1 % |
Notes
- Revenues from non-core operations, such as third-party rents, and revenues from RCI's Other segment, are not included in Nightclubs and Bombshells sales above.
- All references to "
RCI Hospitality Holdings, Inc. ," "company," "we," "our," and similar terms refer to RCI and/or its subsidiaries, unless the context indicates otherwise.
About
With more than 60 locations,
Forward-Looking Statements
This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) the impact of the COVID-19 pandemic, and (vii) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended
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