According to its website, RCI Hospitality Holdings, Inc. (RICK) owns and operates upscale gentlemen's clubs and restaurants. In addition to these businesses, the group also runs websites and has a media division.
Q4 2020 hedge fund letters, conferences and more
Pandemic problems
Before the coronavirus pandemic, the company had reported several years of strong growth.
From fiscal 2016 to fiscal 2019, sales grew from $126 million to nearly $170 million, and gross profit increased by around 40%.
Unfortunately, like all other hospitality businesses, the pandemic has slammed growth. For the financial year ending September 30, 2020, revenues fell back to $124 million.
Still, it seems as if the business is on the edge of...
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