Rick's Cabaret Q4 Nightclub Sales Rise

(RTTNews) - Rick's Cabaret International, Inc. (RICK) Tuesday said sales at its nightclubs and restaurants in the fourth quarter ended September 30, were $27.2 million, up 19.5% from the prior year.

Sales at nightclubs open for more than one year declined for the quarter by 4.2%, to $21.3 million.

Eric Langan, president and CEO of the company stated, "Although same store sales were down somewhat overall, we are seeing the return of big ticket customers who tend to contribute to higher margins."

The company said its sales figures do not include its internet or media divisions.

The nightclubs operator said sales growth was driven mainly by contributions from Jaguars adult clubs acquired in September 2012, the new Bombshells restaurant and sports bar and Ricky Bobby Sports Saloon in the Dallas/Ft. Worth market, as well as gains at the two Minneapolis adult clubs, XTC Cabaret clubs in Dallas and Austin, Rick's Cabaret in New York City and Club Onyx in Dallas.

The company expects to announce its full fiscal year results on December 16.