Rick's Cabaret International, Inc. April Nightclub Revenues More Than Double Last Year's Total
Same Store Sales up 11.5 Percent
Rick's Cabaret International, Inc., premier operator of upscale gentlemen's clubs, said today it more than doubled nightclub sales in April from 2007 and had an 11.5 percent gain in same location sales over the previous year.
Total sales at the company's 18 adult nightclubs for April were $5.1 million, a 105 percent increase over the $2.48 million recorded in April 2007. Same store sales were $2.68 million compared with $2.40 million last year, an 11.5 percent increase.
"Tootsie's Cabaret in Miami continues to be the biggest driver of our yearly increase and our New York City club continued its powerful growth with a gain of 46.8 percent over April of last year," said Eric Langan, President and CEO of the company. He noted that new acquisitions in Philadelphia and Dallas made modest contributions in April since they were under the control of the company for only a few days.
Mr. Langan also said that the April 2008 sales report would be the last such monthly report the company will give and that future sales reports will be issued at the end of each quarter, a practice that will bring Rick's Cabaret in line with the trend toward quarterly sales reports issued by other publicly traded retail firms.
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