Rick's Cabaret International, Inc. April Nightclub Revenues More Than Double Last Year's Total; Same Store Sales Up 11.5 Percent
HOUSTON - (May 8, 2008) - Rick's Cabaret International,
,premier operator of upscale gentlemen's clubs, said today it more than doubled nightclub sales in April from 2007 and had an 11.5 percent gain in same location sales over the previous year.
sales at the company's 18 adult nightclubs for April were $5.1 million, a
105 percent increase over the $2.48 million recorded in April 2007. Same store sales were $2.68 million compared with $2.40 million last year, an
11.5 percent increase.
"Tootsie's Cabaret in Miami
continues to be the biggest driver of our yearly increase and our New York City club continued its powerful growth with a gain of 46.8 percent over April of last year," said Eric Langan
, President and CEO of the company. He noted that new acquisitions in Philadelphia and Dallas made modest contributions in April since they were under the control of the company for only a few days.
said he would be available to discuss the April numbers in more detail during the company’s second quarter earnings conference call today at 4:30 pm EDT. The call is being webcast by VCall
) and can be accessed at the Rick's Cabaret website, www.ricks.com
. Toll free live participant dial-in number is 877-407-8031, and international callers are invited to dial 201-689-8031. The toll free replay number is 877-660-6853 (international callers dial 201-689-8031), account 286, conference ID 284203. .
Mr. Langan also said that the
April 2008 sales report would be the last such monthly report the company will give and that future sales reports will be issued at the end of each quarter, a practice that will bring Rick's Cabaret in line with the trend toward quarterly sales reports issued by other publicly traded retail firms.
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
"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
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
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
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
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]