Rick's Cabaret (RICK) Reports Same Store Sales Rose .25%

Rick's Cabaret International, Inc. (NASDAQ: RICK) said revenues at its nightclubs rose 30.3% in the quarter ending June 30, 2009, to $20.7M, setting a new company record for quarterly sales.

The increase in revenues was attributed primarily to improving sales at the company's Rick's Cabaret Las Vegas club.

For the quarter, company-wide same store sales declined 5.5%, to $14.1M, although the company noted that overall same store sales in June showed an increase of .25 percent, with gains at the Rick's Cabaret clubs in New York City and San Antonio.

"This is the first time we've ever exceeded $20 million in sales in a single quarter," said Eric Langan, President and CEO of Rick's Cabaret. "We are starting to see some winners emerge in certain markets. The marketing and operational changes we have made throughout the organization should put us in an excellent position to grow organically as the economy recovers and we will continue to focus our resources on increasing market share."

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