RCI Hospitality reports Q2 sales for Nightclubs and Bombshells up 1.3%

RCI Hospitality Holdings reported sales for its Nightclubs and Bombshells restaurants for the Q2 of $71.7M, an increase of 1.3% or $900,000 compared to the year-ago period. Sales do not include non-core operations and are subject to final closing. Full Q2 financial results are expected by May 9. Eric Langan, President & CEO of RCI, said: “During 2Q24, increases in sales from last year’s acquisitions and new locations more than offset year-over-year declines in same-store sales and from clubs in transition. While we continue to work at improving SSS, we have made noticeable progress with our development schedule, acquisitions, capital management, and share buybacks.” Nightclubs sales totaled $59.0M, an increase of 4.2% or $2.4M year-over-year. Q2 reflected increases of $7.4M from acquisitions not in SSS. 2Q24 also reflected declines of 5.7% or $2.9M in SSS and of $2.1M from clubs reopened, reformatted or closed during or prior to the quarter. Sales totaled $12.8M, a decline of 10.4% or $1.5M year-over-year. Q2 reflected increases of $1.2M from locations not in SSS: Cherry Creek Food Hall in Greenwood Village with its Bombshells Kitchen, Bombshells San Antonio, and Bombshells Stafford. Q2 also reflected declines of 20.5% or $2.7M in SSS. Bombshells didn’t start implementing previously announced management and marketing changes and cost cutting until mid-February 2024.