News

RCI Hospitality Holdings (RICK) – Sweet Home Alabama

Retail and Consumer
0 min read

Friday, May 06, 2022

RCI Hospitality Holdings (RICK)
Sweet Home Alabama

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Adding more Restaurants. RCI Hospitality announced the signing of a franchise agreement for Bombshells Restaurant & Bar that brings three franchise locations of the restaurant to the state of Alabama. The franchisee of the locations will be a newly established entity by Jerry Westland, a hospitality entrepreneur who owns nightclubs, bars, and restaurants. These locations will be opening over the next five years, with the first one being placed in Huntsville.

Continuing to Grow Bombshells. This announcement is a testament to RCI’s strategy of expanding Bombshells into various states as well as expanding on the franchising model for the restaurant. Recall, management’s goal is to have 80-100 locations over the next five years, and the Company is actively looking at different areas of Texas and Florida in which to expand the brand….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

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