U NITED S TATES

Securities and Exchange Commission

Washington, D.C. 20549

 

FORM 8-K

 

Current Report

 

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report: July 11, 2017

 

RCI HOSPITALITY HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Texas   001-13992   76-0458229
(State or Other Jurisdiction
of Incorporation) 		 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

10737 Cutten Road

Houston, Texas 77066

(Address of Principal Executive Offices, Including Zip Code)

 

(281) 397-6730

(Issuer’s Telephone Number, Including Area Code)

 

 

 

     
   

 

ITEM 2.02 Results of Operations and Financial Condition.

 

On July 11, 2017, we issued a press release announcing total and same-store sales at nightclubs and restaurants for the third fiscal quarter ended June 30, 2017. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

 

(d) Exhibits

 

Exhibit Number   Description

 

99.1   Press release of RCI Hospitality Holdings, Inc. dated July 11, 2017

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

 

  RCI Hospitality Holdings, INC .
     
Date: July 11, 2017 By: /s/ Eric Langan
    Eric Langan
    President and Chief Executive Officer

 

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RCI 3Q17 Club & Restaurant Total & Same-Store Sales Increase

 

● Total Club & Restaurant Sales of $36.9 Million—Up 11.5% from 3Q16
   
● Same-Store Sales of $33.4 Million—Up 6.8% from 3Q16

 

HOUSTON—July 11, 2017—RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced total and same-store sales for its Nightclubs and Bombshells restaurant segments for the third fiscal quarter ended June 30, 2017. The company plans to report complete 3Q17 results August 9, 2017.

 

3Q17 vs. 3Q16

 

● Total club and restaurant sales: $36.9 million compared to $33.1 million.
   
● Consolidated same-store sales: $33.4 million compared to $31.3 million.
   
● Nightclubs segment sales: $32.3 million compared to $28.1 million (40 units vs. 38).
   
● Bombshells restaurant segment sales: $4.6 million compared to $5.0 million (4 units vs. 5).

 

 

CEO Comment

 

Eric Langan, President and CEO, commented: “In 3Q17, RCI generated one of the largest quarterly increases in same-store sales in the last five years. This was primarily due to the Nightclubs segment, where sales rose 8.0% on a same-store basis and 14.9% on a total basis.

 

“In same-store sales, we are seeing a broad based recovery around the country both in VIP spend and in customer count. This was a nice surprise given our third quarter is normally seasonally weaker. Total sales also benefited from our acquisitions of Hollywood Showclub in St. Louis (April 25 th ) and of Scarlett’s Cabaret Miami (May 8 th ), which contributed a combined $2.2 million in new volume. We were particularly pleased with the performance of Scarlett’s Cabaret Miami.

 

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“Sales at our four existing Bombshells grew slightly on a same-store basis. Our fifth Bombshells is expected to open next week, on July 17 th . We have broken ground on our sixth, picked out a property for our seventh, and plan to develop three more in 2018-2019. Customers continue to be attracted to our military theme and social dining concept with our Bombshells Girls, where you can have a great time, great food, watch the game, listen to music, and hang out with friends or family.

 

“Overall, we appear to be gaining momentum the same time as the economy appears to be. With our increases in same-store sales and our return to acquisition mode, management at all levels is excited about the prospects going forward.”

 

Notes

 

● Nightclubs and Bombshells segment sales do not include sales from non-core operations.
 
● Unit counts are at period end.
 
● All references to the “company,” “we,” “our,” and similar terms include RCI Hospitality Holdings, Inc. and its subsidiaries, unless the context indicates otherwise.

 

About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)

 

With 44 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in gentlemen’s clubs and sports bars/restaurants. Clubs in New York City, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis and other cities operate under brand names, such as “Rick’s Cabaret,” “XTC,” “Club Onyx,” “Vivid Cabaret,” “Jaguars,” “Tootsie’s Cabaret,” and “Scarlett’s Cabaret.” Sports bars/restaurants operate under the brand name “Bombshells.” Please visit http://www.rcihospitality.com/

 

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 in this press release, including the risks and uncertainties associated with operating and managing an adult business, the business climates in cities where it operates, the success or lack thereof in launching and building the company’s businesses, risks and uncertainties related to cybersecurity, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.

 

Media & Investor Contacts

 

Gary Fishman and Steven Anreder at 212-532-3232 or [email protected] and [email protected]

 

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