Rick's Cabaret International, Inc. Reports 13 Percent Rise In Same Club Sales For October
HOUSTON - (November 10, 2009) - Rick's Cabaret International,
, the nation's premier chain of upscale gentlemen's clubs, today reported sales of $6.86 million at its nightclubs in October, an increase of about 13 percent over sales of $6.07 million registered in October 2008.
"Except for the newest acquisition in Ft. Worth, all of our clubs are now in our same store comparable figures and we are pleased with the gain. We expect to see continued growth in same club sales going forward as a result of our marketing efforts and the improving economy," said Eric Langan
, President and CEO of Rick's Cabaret International. He noted that the October results reflect the closing of two of our smaller locations in Texas.
The company said monthly same club/same period sales for clubs open more than one year rose 13.06 percent to $6.67 million from the $5.9 million reported last October, driven primarily by improved sales at the Rick's Cabaret Las Vegas location, which is included in same store sales for the first time.
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, operates or licenses adult nightclubs in New York City, Miami, Philadelphia, Las Vegas, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret". Sexual contact is not permitted at these locations. Rick's Cabaret also operates a media division, ED Publication, and owns the adult Internet membership Web site, couplestouch.com as well as a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on the NASDAQ Global Market 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 cities where it operates, the success or lack thereof in launching and building the company’s businesses, 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 visit www.ricks.com.
Media Contact: Allan Priaulx, 212-338-0050, [email protected]