Rick's Cabaret International, Inc. Reports 35.8 Percent Increase in October Nightclub Sales
Rick's Cabaret International, Inc. (NASDAQ: RICK), operator of upscale gentlemen's clubs, reported October 2007 sales of $2,872,085, a 35.85 percent increase over sales in October 2006.
Several Rick's Cabaret nightclubs, including the flagship New York City location, posted strong sales increases over the previous October. The New Orleans Nights location in Fort Worth, TX, acquired by the company in April 2007, and the Club Onyx location in Charlotte, NC, also contributed to the sales growth.
Same store sales were up nearly 16 percent over the previous year's total of $2,114,172.
'Our New York City location continues to have exceptional growth.' according to Eric Langan, President and CEO of Rick's Cabaret International. 'We are also particularly pleased with the development of our Club Onyx in Charlotte and strong contribution from the new Fort Worth club.'
October is the first month of the company's 2008 fiscal year. Results for the full 2007 fiscal year will be reported in December.
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