Rick's Cabaret July Nightclub Sales of $1.9 Million Set Record for the Month
Up 49.2 Percent over Previous Year
Rick's Cabaret International, Inc. (NASDAQ: RICK) nightclub sales in July reached $1,914,964, a company record for the month of July and a 49.2 percent increase over the same month in 2005.
Same club sales for July 2006 were $1,428,271, up by 11.2 percent over the $1,282,975 recorded in 2005. The only nightclub not included in the same store sales was Rick's Cabaret New York City, which opened last September.
"We are satisfied with the results for July, which show steady growth for most of our clubs, but also reflect normal seasonality for a month in which business travel and entertainment usually dips," according to Eric Langan, CEO of Rick's Cabaret. "We are looking forward to contributions from two new clubs in the fast-growing San Antonio market. We will be opening a Club Onyx there in the next few days and we anticipate closing on the purchase of the popular upscale Centerfolds Club in San Antonio on or before August 15th, after which it will be converted to a Rick's Cabaret."
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