Rick's Cabaret International, Inc. Reports 35.8 Percent Increase In October Nightclub Sales
HOUSTON-(November 6, 2007)-Rick's Cabaret International, Inc.
operator of upscale gentlemen's clubs, reported October 2007 sales of
$2,872,085, a 35.85 percent increase over sales in October 2006.
Several Rick's Cabaret nightclubs, including the flagship New York City
location, posted strong sales increases over the previous October. The
New Orleans Nights location in Fort Worth, TX, acquired by the company
in April 2007, and the Club Onyx location in Charlotte, NC, also contributed
to the sales growth.
Same store sales were up nearly 16 percent over the previous year's total
"Our New York City location continues to have exceptional growth."
according to Eric Langan, President and CEO of Rick's Cabaret International.
"We are also particularly pleased with the development of our Club
Onyx in Charlotte and strong contribution from the new Fort Worth club."
October is the first month of the company's 2008 fiscal year. Results
for the full 2007 fiscal year will be reported in December.
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates
upscale adult nightclubs serving primarily businessmen and professionals
that offer live adult entertainment, restaurant and bar operations.
The company owns and operates or licenses adult nightclubs in New
York City, New Orleans, Charlotte, Houston, Minneapolis and other
cities under the names "Rick's Cabaret," "XTC"
and "Club Onyx." No sexual contact is permitted at any
of these locations. Rick's Cabaret also owns the adult Internet
membership Web site, couplestouch.com,
and a network of online adult auction sites under the flagship URL
Cabaret common stock is traded on NASDAQ under the symbol RICK.
For further information contact [email protected].
This document contains forward-looking statements that involve a
number of risks and uncertainties that could cause the company's
actual results to differ materially from those indicated in this
document, including: the risks and uncertainties associated
with operating and managing an adult business; the business
climates in New York City and elsewhere; the success or lack thereof
in launching and building the company's businesses in New York City
and elsewhere; the Company's ability to identify and secure suitable
locations for new nightclubs on acceptable terms, open the anticipated
number of new nightclubs on time and within budget; achieve anticipated
rates of same-store sales; hire and train additional nightclub personnel
and integrate new nightclubs into its operations; unexpected increases
in costs of sales or employee, pre-opening or other expenses; the
economic conditions in the new markets into which the Company expands
and possible uncertainties in the customer base in these areas;
fluctuations in quarterly operating results; the impact of any negative
publicity or public attitudes; competitive pressure from other national
and regional nightclub chains; risks and uncertainties related to
the operational and financial results of our Web sites, conditions
relevant to real estate transactions, and numerous other factors
such as laws governing the operation of adult entertainment businesses,
competition and dependence on key personnel. Rick's has no obligation
to update or revise the forward-looking statements to reflect the
occurrence of future events or circumstances. For further information
go to www.ricks.com.
for further information: Allan Priaulx, 212-338-0050, [email protected]