Rick's Cabaret International, Inc. August Nightclub Sales Exceed $3 Million Up 49 Percent Over Last Year
HOUSTON-(September 11, 2007)
-Rick's Cabaret International,
Inc. [NASDAQ:RICK]
operator of upscale gentlemen's clubs, today reported August nightclub
sales of $3,035,987 a 49 percent gain over August 2006 and the first
time the company‚s sales have exceeded $3 million in a single
month. Same store sales climbed more than 18 percent over August
2006.
"We are delighted that we had such a strong performance and
particularly since it came in what traditionally is a slower month
for our industry," said
Eric Langan, President
and CEO of the company. "We believe the sales growth was a
direct result of the efforts of our in-club management teams, who
emphasized our terrific customer service and actively promoted the
clubs in their local markets."
The increase over August 2006 results was also driven by continued
strong growth at the Rick's Cabaret in New York City plus contributions
from new Rick's Cabaret clubs in Austin and San Antonio and the
newly acquired New Orleans Nights club in Fort Worth, Texas.
Same store sales were $2,380,996 compared with the August 2006 total
of $2,016,068.
About
Rick's Cabaret
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].
Forward-Looking
Statements:
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.