Rick's Cabaret Consolidated Club Sales For November Rise by 96.5% Over Previous Year; Same Store Sales Grow 38.5%
HOUSTON -(December 8,2005)- Rick's Cabaret International,
today its consolidated adult nightclub sales for November 2005 increased
by 96.5 percent over the same month last year. Same club-same period
nightclub revenue rose by 38.5 percent in November over the same
month last year.
nightclub revenue for the month of November 2005 was $1,846,259,
compared with $939,723 in November 2004. Same store sales this year
were $1,301,341 compared with $939,773 in November 2005. The figures
do not include the former Rick’s South Houston location, which
was sold in March 2005.
“We are delighted with the continued revenue growth and with
the increased brand awareness that we have received since the opening
of our Midtown Manhattan club ,” said Eric Langan, CEO of
Rick’s Cabaret, which owns and operates 10 adult nightclubs
nationwide. “We are exceptionally happy with the growth of
our Club Onyx in Houston and with overall same store sales.”
Rick’s Cabaret International, Inc. (NASDAQ: RICK, www.ricks.com)
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, New Orleans, Houston, Minneapolis and
other cities under the names "Rick's Cabaret," "XTC,"
“Club Onyx” and “Hummers.” No sexual contact
is permitted at any of these locations. Rick’s Cabaret also
owns the adult Internet membership Web site, www.couplestouch.com,
and a network of nine online auction sites for adult products under
the flagship URL www.naughtybids.com.
Rick’s Cabaret common stock is traded on the NASDAQ SmallCap
market under the symbol RICK. For further information contact [email protected].
This press release may contain forward-looking information within
the meaning of Section 21E of the Securities Exchange Act of 1934
that involves significant risks and uncertainties, and is subject
to the safe harbors created by this section. Important factors that
could cause actual results for Rick's Cabaret to differ materially
from those indicated in this press release include the risks and
uncertainties as to the future operational and financial results
of our Web sites, conditions relevant to real estate transactions,
the future operational performance of our partners, the laws governing
the operation of adult entertainment businesses, competitive and
economic factors, dependence on key personnel and the ability to
manage operations. Rick's Cabaret has no obligation to update or
revise the forward-looking statements to reflect the occurrence
of future events or circumstances. Please refer to the documents
Rick’s Cabaret files from time to time with the Securities
and Exchange Commission, in particular the most recent quarterly
reports on Form 10-QSB and annual report on Form 10-KSB, which are
available at the Company’s website, www.ricks.com.
Contact for further information: Allan Priaulx, 212-338-0050,