Rick's Cabaret International, Inc. November Nightclub Sales Exceed $2.8 Million, Increasing 31 Percent Over Previous Year
HOUSTON-(December 6, 2007)-Rick's Cabaret International, Inc.
operator of upscale gentlemen's clubs, said today its November nightclub
sales totaled $2,866,841, an increase of 31.48 percent over the previous
November, when sales totaled $2,180,618.
Same store sales for November increased by 17.75 percent over 2006, to
The primary drivers for the increases were continued growth at Rick's
Cabaret-NYC, which showed a gain of more than one third from the prior
year, and the company's Charlotte location, which had been closed for
part of the month in 2006 while the venue was being converted from a Rick's
Cabaret to a Club Onyx.
Sales for October and November, the first two months of the company's
first quarter, total $5,738,826, an increase of 33.63 percent over the
$4,294,690 reported in 2006.
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]