RCI Hospitality (RICK) Posts Preliminary Q3 Results, Stock Up

Following the results, the stock moved up 14.6% during trading hours on Jul 11. Positive investor sentiments were witnessed as the company revealed to increase its share repurchase program by $25 million. The move aligns with the management's strategic emphasis on operational efficiency, cost reduction and maximizing shareholder returns. During the quarter, sales from Nightclubs came in at $62.4 million, rising 5.9% from the fiscal second quarter and 1.7% year over year. The upside was primarily backed by c ...