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RCI Hospitality Reports Sales For Its Nightclubs And Bombshells Restaurants

RCI Hospitality Holdings, Inc. (RICK) reported that its total and same-store sales were up 11.8% and 5.3%, respectively, through the first 10 weeks of second quarter, until mid-March. Nightclubs total sales for the second quarter declined 15.3%. Same-store sales decreased 14.8%. Bombshells total sales for the second quarter increased 17.0% compared to a year ago and same-store sales decreased 13.8%.

RCI Hospitality noted that it is no longer operating at earlier fiscal 2020 $30 million free cash flow run rate. The Group believes it ended March with sufficient working capital on hand to fund operations into July without additional borrowings.

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