By Dean Seal
Shares of RCI Hospitality Holdings fell on Tuesday after the company said bad winter weather forced temporary closures of certain clubs and Bombshells restaurant locations, weighing on sales.
The stock was down 5.6% at $36.84 in early trading. Shares have fallen 36% since the start of the year. They were trading at $54.77 at this time 12 months ago.
The Houston-based company said same-store sales across its clubs and restaurants were down 4.7% in the fiscal second quarter that ended March 31. The Bombshells chain saw a 13.4% drop while RCI's nightclubs had a 3.5% shortfall.
Bad weather in January and February forced 18 clubs and Bombshells locations to close for 1 to 2 days each, Chief Executive Eric Langan said.
"Even if they were able to open, a number of those and other locations experienced slower business, particularly on weekends when temperatures were below zero or had heavy snow and ice," he said, citing Dallas and Houston as particularly affected regions.
Sales started to improve in March as the weather warmed, the CEO said.
RCI will report full financial results for the second quarter on May 12.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 08, 2025 09:40 ET (13:40 GMT)
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