Rick’s Cabaret (RICK) Sees 20.75% Increase in Sales for January 2010
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Rick’s Cabaret International, Inc. (NASDAQ: RICK) said sales at its nightclubs in January rose 20.75 percent over January 2009, while same club sales climbed 14.65 percent over the previous January.
The company said sales at its clubs totaled $6.8 million for the month of January, compared with $5.6 million in the previous January.
Sales at clubs operated for more than a year were $6.3 million, compared with $5.5 million in the previous January.
Said Eric Langan, President and CEO of Rick’s Cabaret: “We are very pleased with our sales growth in January and are happy that our growth is continuing. We have now been able to cut back on the very expensive programs we used in the last quarter that helped us gain significant market share. We believe this will help us improve our margins in the current quarter, which has benefited from the Super Bowl in Miami and the upcoming NBA All-Star week in Dallas. We will discuss this in more detail in our conference call on February 16th.”
The company said sales at its clubs totaled $6.8 million for the month of January, compared with $5.6 million in the previous January.
Sales at clubs operated for more than a year were $6.3 million, compared with $5.5 million in the previous January.
Said Eric Langan, President and CEO of Rick’s Cabaret: “We are very pleased with our sales growth in January and are happy that our growth is continuing. We have now been able to cut back on the very expensive programs we used in the last quarter that helped us gain significant market share. We believe this will help us improve our margins in the current quarter, which has benefited from the Super Bowl in Miami and the upcoming NBA All-Star week in Dallas. We will discuss this in more detail in our conference call on February 16th.”
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