Rick's Cabaret International, Inc. Reports January Nightclub Sales Doubled Previous Year's
HOUSTON-(February 7, 2008)- Rick's Cabaret International,
the premier publicly traded operator of gentlemen‚s clubs, today
reported sales of $4,778,409 at its 15 nightclubs for January 2008, more
than double the previous year's total of $2,361,118.
The 102 percent growth from the previous year was largely attributable
to the acquisition of Tootsie's Cabaret
in Miami Gardens,
FL, where sales exceeded the revenues anticipated when the company bought
the club, continued growth at the Rick's Cabaret in Midtown Manhattan,
and a strong launch of the newly re-branded Rick's Cabaret in Ft. Worth.
"Tootsie's in Miami Gardens continues to exceed our expectations,
with sales of nearly $2 million for the month," said Eric
, President and CEO of the company.
Same club-same month sales were $2,444,652, up 3.5 percent over January
2007. Unusually severe weather conditions in the Midwest impacted the
Rick's Cabaret in Minneapolis. Excluding the Minneapolis club same store
sales increased by 8.8 percent.
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 naughtybids.com.
Rick's 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]