Rick's Cabaret (RICK) Comps Uo 0.3% in Q1
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Price: $30.76 -0.71%
Financial Fact:
Net income (in dollars per share): 0.27
Today's EPS Names:
XYF, SQZB, RENO, More
Financial Fact:
Net income (in dollars per share): 0.27
Today's EPS Names:
XYF, SQZB, RENO, More
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Rick's Cabaret International I (Nasdaq: RICK) announced total sales at adult clubs and sports bar/restaurants for the first quarter ended December 31, 2013.
-- Total sales were $29.1 million, a quarterly record, up 8.4% from $26.8 million in the year ago quarter. There were 41 units in the 1Q14 count versus 34 in the year ago quarter. The figures do not include the Company's internet or media divisions.
-- Sales at units open more than one year were $26.6 million, also a quarterly record, up 0.3% from a year ago. There were 33 units in this category in 1Q14.
-- Total sales were positively impacted by the performance of adult clubs acquired and sports bar/restaurants launched within the past year, as well as sales growth at existing adult clubs.
-- The quarter's sales were achieved despite mid-December ice storms that caused Rick's to close many units in Texas for as many as five days, resulting in at least $500,000 in lost sales. Most of these clubs were among those open more than a year. Texas is Rick's largest single market.
-- The Company expects to announce 1Q14 results on February 10, 2014.
Eric Langan, President and CEO, commented, "We continue to be very pleased with our overall performance, including our recently acquired adult clubs and newly launched sports bar/restaurants, with the exception of bad weather in Texas. Sales at clubs open more than a year were up year over year for the first time since the December 2012 quarter. This reflects the initial benefits of our post-recession strategy of increasing patronage from bigger ticket, higher margin customers at many of our locations."
-- Total sales were $29.1 million, a quarterly record, up 8.4% from $26.8 million in the year ago quarter. There were 41 units in the 1Q14 count versus 34 in the year ago quarter. The figures do not include the Company's internet or media divisions.
-- Sales at units open more than one year were $26.6 million, also a quarterly record, up 0.3% from a year ago. There were 33 units in this category in 1Q14.
-- Total sales were positively impacted by the performance of adult clubs acquired and sports bar/restaurants launched within the past year, as well as sales growth at existing adult clubs.
-- The quarter's sales were achieved despite mid-December ice storms that caused Rick's to close many units in Texas for as many as five days, resulting in at least $500,000 in lost sales. Most of these clubs were among those open more than a year. Texas is Rick's largest single market.
-- The Company expects to announce 1Q14 results on February 10, 2014.
Eric Langan, President and CEO, commented, "We continue to be very pleased with our overall performance, including our recently acquired adult clubs and newly launched sports bar/restaurants, with the exception of bad weather in Texas. Sales at clubs open more than a year were up year over year for the first time since the December 2012 quarter. This reflects the initial benefits of our post-recession strategy of increasing patronage from bigger ticket, higher margin customers at many of our locations."
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