Rick's Cabaret International, Inc. Reports 3.74 Percent Rise In Sales For September
HOUSTON- (October 8, 2009) - Rick's Cabaret International,
Inc. [NASDAQ-GM:RICK], the nation's premier chain of upscale gentlemen's clubs, today reported sales of $5.8 Million at its nightclubs in September, a 3.74 percent increase over the $5.6 Million registered in September 2008.
The company said monthly same club sales for clubs open more than one year rose 1.84 percent.
For the full quarter ended September 30, Rick's Cabaret nightclubs had revenues of $18.2 Million, a 9.45 percent increase over 2008 sales of $16.6 Million. Sales at clubs open for 3 full months were $15.7 Million, a 0.66 percent dip from the $15.8 Million reported by those clubs in 2008.
"Overall we are pleased with the sales performance of most of our nightclubs in September, which is traditionally a challenging month for the gentlemen's club business because of back-to-school schedules and religious holidays," said Eric Langan. "While sales at some of our smaller locations continue to be weak, the trend for our stronger locations is upwards and we are looking forward to a robust December quarter."
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]