VCG Reports Growth of Its July and August 2005 Nightclub Revenues by 41.6% and 44.1%, Respectively, over the Same Months in 2004
September 14 2005 - 12:14PM
Business Wire
VCG Holding Corp. (VCG) (AMEX:PTT), a leading owner, operator and
consolidator of adult nightclubs, today reported that its
consolidated nightclub revenues increased by 41.6% in July 2005 to
$1,184,569, as compared to $691,672 in July 2004, and by 44.1% in
August 2005 to $1,256,974, as compared to $702,243 in August 2004.
Also, the Company's consolidated same store sales increased 3.96%
in July and 5.64% in August, as compared to the same periods in
2004. Sales in both July and August were driven by increases in the
number of customers for same store sales and by the addition of two
stores during such months in 2005 as compared to the same period in
2004. Troy Lowrie, VCG's Chief Executive Officer, commented: "We
are very pleased with the results of the first two months of the
third quarter of 2005. Typically, the summer months are slower than
other months of the year; however, we have been successful in
implementing a number of sales and marketing initiatives that have
allowed us to uniquely maintain and increase the number of
customers and revenue per customer at our nightclubs." About VCG
Holding Corp. VCG Holding Corp. is an owner, operator and
consolidator of adult nightclubs throughout the United States. The
Company currently owns six adult nightclubs, one upscale dance
lounge and operates seven other adult nightclubs under management
agreements. The owned and managed clubs are located in
Indianapolis, St. Louis, Denver, Phoenix, and Louisville.
Forward-Looking Statements Statements contained in this press
release concerning future results, performance or expectations are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements
include statements regarding the intent, belief or current
expectations of the Company and members of its management team, as
well as assumptions on which such statements are based. All
forward-looking statements in this press release are based upon
information available to the Company on the date of this press
release. Forward-looking statements involve a number of risks and
uncertainties, and other factors, that could cause actual results,
performance or developments to differ materially from those
expressed or implied by those forward-looking statements including
the following: failure of facts to conform to necessary management
estimates and assumptions; 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; the continued implementation of the Company's
business discipline over a large nightclub base; unexpected
increases in cost 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;
seasonality; changes in customer spending patterns; the impact of
any negative publicity or public attitudes; competitive pressures
from other national and regional nightclub chains; business
conditions, such as inflation or a recession, or other negative
effect on nightclub patterns, or some other negative effect on the
economy, in general, including (without limitation) growth in the
nightclub industry and the general economy; changes in monetary and
fiscal policies, laws and regulations; war, insurrection and/or
terrorist attacks on United States soil; and other risks identified
from time to time in the Company's SEC reports, including the
amended Annual Report on Form 10-KSB/A for 2004, Quarterly Reports
on Form 10-QSB and Current Reports on Form 8-K, registration
statements, with any amendments thereto, press releases and other
communications. The Company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results over time.
Vcg (AMEX:PTT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Vcg (AMEX:PTT)
Historical Stock Chart
From Jul 2023 to Jul 2024