RCI Hospitality Holdings, Inc. (RICK) announced a 3.3% decrease in preliminary combined sales for the first quarter, largely attributed to a 24.7% reduction in Bombshells sales and a 7.5% drop in Bombshells same-store sales. However, combined same-store sales saw an increase of 2.3%.
Nightclub sales experienced a 1.2% rise, amounting to $61.3 million for the quarter, with same-store sales improving by 3.7%.
This sales performance was influenced by the sale and closure of five locations during the fourth quarter of 2024 and the first quarter of 2025, the downturn in same-store sales, and a full quarter's operation of the location in Stafford, TX.
RCI anticipates releasing its complete first-quarter financial results by February 10, 2025. As of now, RCI's shares are trading at $56.71, a decline of 1.06% on the Nasdaq.
