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Restaurant Industry News
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Sunday June 11th, 2006 |
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Rick's Cabaret Nightclub Sales Continue to Climb; Up 75.45 Percent in May
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Cabaret International, Inc., (NASDAQ: RICK), said revenues from its national chain of gentlemen's clubs increased 75.45 percent in May 2006 from the same month a year earlier. |
The increase was driven by the continued strong growth of the company's upscale club in New York City and a 24.85 percent increase in same store sales.
Total nightclub sales for May 2006 were $1,993,866, compared with $1,136,370 in 2005. The figures for May 2006 include revenues from Rick's Cabaret-NYC, which opened in September 2005, and a small revenue contribution from the newest Rick's location in South Houston, TX, which the company acquired in mid-May. Same store sales in May 2006 were $1,418,780, compared with $1,136,370 last year.
"We are maintaining upward momentum as we move through the year," said Eric Langan, President and CEO of Rick's Cabaret. "Our newest club in South Houston, TX, has begun to contribute revenue, our existing clubs are strong and our New York City club continues its steady growth."
Results so far in the company's third quarter, which ends June 30, show a 71.32 percent increase in total nightclub sales over 2005 and a 25.01 percent increase in same store sales.
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| Last: |
6.55 |
| Time: |
6/9/2006 3:58pm |
| Change: |
+0.12 |
| Opened: |
6.50 |
| Day: |
6.55 - 6.40 |
| Volume: |
8888 |
| More Ricks Cabaret International News |
| Rick's Cabaret reports higher nightclub, same-store sales |
| Luby's Announces Third Quarter Fiscal 2006 Results |
| Brinker International Confirms 2006 Guidance and Provides 2007 Outlook |
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