Rick's Cabaret International, Inc. Q2 Nightclub Sales Rise 17.9% to $25 Million; Same Store Sales Up 7.8%
HOUSTON, April 10, 2012 /PRNewswire/ -- Rick's Cabaret International, Inc. (NASDAQ: RICK), the nation's leading chain of adult gentlemen's clubs, said its nightclub sales rose to $25 million in the quarter ended March 31, 2012, a 17.9 percent increase over the $21.2 million registered in the same period in 2011. Sales at clubs open more than one year rose 7.8 percent during the quarter, to $22.6 million.
"We are pleased with these sales figures, which showed all of our club brands improving during this quarter and our newly acquired clubs in Minneapolis, Indianapolis, Fort Worth and Dallas contributing significantly," said Eric Langan, President and CEO. "The quarterly sales increase is also notable because sales during Super Bowl week were $600,000 less this year than in 2011, when we benefited from having multiple clubs in the Dallas-Ft. Worth market, where the game was held last year, compared with just one club in Indianapolis, where the game was played this year."
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, Charlotte, Dallas, Houston, Minneapolis, Indianapolis 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 firstname.lastname@example.org or visit www.ricksinvestor.com.
Forward-looking Statements: This document may contain 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 www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.