RCI Hospitality Holdings, Inc. (RICK), a renowned operator of clubs and restaurants, reported a decrease in both total sales and same-store sales for the fourth quarter on Tuesday.
For the quarter ending September 30, RCI recorded total revenues of $72.1 million, reflecting a 2.6% decline compared to the previous year. Same-store sales decreased by 1.1% during this period.
Nightclub sales experienced a slight reduction of 0.5%, amounting to $60.2 million. However, same-store sales for nightclubs saw an increase of 2.2%.
The Bombshells chain reported sales of $11.9 million, marking a 12.2% decrease from last year. Same-store sales for Bombshells declined by 16.2%, significantly impacted by 26 days of closures at five locations in the Houston area due to Hurricane Beryl in July.
The new Stafford location, which launched in November last year, contributed to sales, although a decline was noted at the San Antonio location following its sale at the beginning of September.
