RCI Announces First Bombshells Franchise Agreement
December 23, 2020 · ·
Houston, TX (
Restaurant News Release) RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced the signing of the first Franchise Development Agreement for Bombshells Restaurant & Bar. Terms call for the opening of three locations over five years in San Antonio, TX, and the right of first refusal for three more locations in Corpus Christi, New Braunfels, and San Marcos, also in Texas.
The agreement was signed with a newly formed entity established by six Houston-based private investors who have extensive experience in retail and hospitality, as well as multiple other industries. This experience includes franchise management and restaurant ownership.
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HOUSTON, Dec. 23, 2020 /PRNewswire/ RCI Hospitality Holdings, Inc. (NASDAQ:RICK) today announced the signing of the first Franchise Development Agreement for Bombshells Restaurant & Bar. Terms call for the opening of three locations over five years in San Antonio, TX, and the right of first refusal for three more locations in Corpus Christi, New Braunfels, and San Marcos, also in Texas.
The agreement was signed with a newly formed entity established by six Houston-based private investors who have extensive experience in retail and hospitality, as well as multiple other industries. This experience includes franchise management and restaurant ownership.
With the San Antonio agreement, Bombshells will be in the four largest cities in Texas. The brand currently has 10 company-owned locations: eight in the Houston area and one each in Dallas and Austin. Bombshells recently announced plans for 10 more company-owned locations, initially targeting additional units in Houston and
Quarterly Results
Earnings per share decreased 75.41% year over year to $0.15, which beat the estimate of $0.02.
Revenue of $28,786,000 decreased by 36.29% year over year, which beat the estimate of $28,500,000.
Guidance
RCI Hospitality Sees Sales For Clubs And Restaurants Are Expected To Total $35M-$37M And Assuming No Additional Closings And Restrictions; Co. Also Says It Has Currently 36 Locations Open
Recent Stock Performance
52-week low: $6.52
Company Overview
RCI Hospitality Holdings Inc through its subsidiaries owns and operates establishments that offer live adult entertainment, restaurant, and or bar operations. The company also owns and operates communication company serving the adult nightclubs industry. The company s operating business segments are Nightclubs and Bombshells restaurants and bars. It operates nightclubs through the following brands Rick s Cabaret, Vivid Cabaret, Tootsie s Cabaret, Club Onyx, and Jaguars Club. In the restaurants segment, the company
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