Rick's Cabaret International, Inc. January Sales Rose 20.75%; Same Club Sales Rose 14.65 Percent Over Previous Year
HOUSTON - (February 9, 2010) - Rick's Cabaret International,
, the leading chain of gentlemen's clubs, said sales at its nightclubs in January rose 20.75 percent over January 2009, while same club sales climbed 14.65 percent over the previous January.
The company said sales at its clubs totaled $6.8 million for the month of January, compared with $5.6 million in the previous January.
Sales at clubs operated for more than a year were $6.3 million, compared with $5.5 million in the previous January.
Said Eric Langan, President and CEO of Rick's Cabaret: "We are very pleased with our sales growth in January and are happy that our growth is continuing. We have now been able to cut back on the very expensive programs we used in the last quarter that helped us gain significant market share. We believe this will help us improve our margins in the current quarter, which has benefited from the Super Bowl in Miami and the upcoming NBA All-Star week in Dallas. We will discuss this in more detail in our conference call on February 16th."
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.
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].
Media Contact: Allan Priaulx, 212-338-0050, [email protected]