Rick’s Cabaret International, Inc. January Sales Rose 20.75%; Same Club Sales Rose 14.65 Percent over Previous Year
February 09 2010 - 10:00AM
Business Wire
Rick’s Cabaret International, Inc. (NASDAQ: RICK), 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.”
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 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 ricks.com.
About Rick’s Cabaret: Rick’s Cabaret International, Inc.
(NASDAQ: RICK) is home to upscale adult nightclubs serving
primarily businessmen and professionals that offer live
entertainment, dining and bar operations. Nightclubs in New York
City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston,
Minneapolis and other cities operate 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 Publications, and owns the adult
Internet membership Website 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 NASDAQ
under the symbol RICK. For further information contact ir@ricks.com.
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