08.07.2014 15:18:32

Rick's Cabaret Says Q3 Sales Climb Over 18%, Same Store Sales Rise 5.1%

(RTTNews) - Rick's Cabaret International, Inc. (RICK) Tuesday said third-quarter total adult club and sports bar/restaurant sales hit a record $33.1 million, up 18.3 percent from $27.9 million in the year ago quarter. There were 43 units compared to 37 in the year ago quarter.

Sales were positively impacted by the performance of adult clubs acquired and sports bar/restaurants launched within the past year, as well as sales growth at existing adult clubs.

The figures do not include the company's internet or media divisions.

Same store sales were $28.9 million, up 5.1 percent from $27.5 million in the year ago quarter.

Nearly all of major brands showed year over year improvement, with the primary exception of three out of the four Club Onyx units. Excluding Onyx units, same store sales would have been up 6.9 percent.

Eric Langan, President and CEO, said, "Looking ahead, 4Q14 should benefit from a full quarter of the new Bombshells in Austin, and, assuming schedules stay on track, the opening sometime during the quarter of a Rick's Cabaret in Odessa, the capital of fracking in Texas, and two new Bombshells in the Houston area."

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