RCI Hospitality: Short-Term Weakness, Mid-Term Opportunity (Rating Upgrade)
Rogers Communications(RCI) Seeking Alpha·2024-06-17 09:23
My Rating History on RICK (Seeking Alpha) The final revenues show year-over-year growth of 1.1%, down from 5.6% in Q1 – sales growth seems to be slowing down with weak same-store sales shown in Q2. No specific reason for the underperformance in same-store sales was mentioned, but I expect that the decline is at least partly attributable to a turbulent macroeconomic backdrop. RCI Hospitality continues to open new locations and continues to acquire new locations, offsetting weak same-store sales – revenues gr ...