Strip-club operator RCI Hospitality stock down 9% in the week so far
RCI Hospitality Holdings Inc.'s stock (RICK) fell another 5% on Thursday to bring its week-to-date losses to 9%, after the operator of adult nightclubs, or strip clubs, offered an update on its business that lagged analyst estimates. The Houston-based company, which also operates Bombshells restaurants, said this week that sales came to $74.1 million in its fiscal fourth quarter, up 5.6% from the year-earlier period, but below the $76.6 million FactSet consensus. "The 4Q23 sales increase primarily reflected the benefit of acquisitions," Chief Executive Eric Langan said in a statement. "This was partially offset by the continued effect of vacation travel and the Texas heat in July-August. But the situation began to improve in September." Same-store sales fell 10.5% and were down 9.6% at nightclubs and down 14.1% at its restaurants. The company is expecting to release fourth-quarter earnings on or around Dec. 14. The stock is down 44% in the year to date, while the S&P 500 has gained 13%.
-Ciara Linnane
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
10-12-23 1356ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth