Rick's Cabaret International, Inc. Reports Nightclub Sales for Third Quarter up 92 Percent over Last Year
Rick's Cabaret International, Inc. (NASDAQ: RICK), premier operator of upscale gentlemen's clubs, said today nightclub sales for its third quarter ended June 30th totaled $15.89 million, a 92.1 percent increase over the previous year.
The company said same club-same period sales for the quarter were $8 million, an 8.43 percent increase over the same period in the previous year.
'We are very pleased with the quarterly nightclub sales results, particularly with the same store comparison gain,' said Eric Langan, President and CEO of Rick's Cabaret. The company considers nightclubs it has operated for 12 months or more for comparable sales. The company will report its full results for the third quarter, including its internet and media divisions, in August.
Mr. Langan said the company's New York City club continued its strong year-over-year growth. He noted that the company's new clubs in Dallas and Philadelphia have begun contributing revenues and Tootsie's Cabaret in Miami continued to exceed initial expectations.
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