Thanks to sales at its New York club, Rick’s Cabaret International is reporting a 75.5 percent increase in revenue in May over the same period last year.
The publicly-traded company reported sales for May were $1,993.866, compared to a year earlier when it reported a $1,136,370. The company said the new numbers were driven primarily by sales at its new Rick’s location in New York City which opened in September and from its new South Houston club which it acquired in mid May.
“We are maintaining upward momentum as we move through the year,” said Eric Langan, company president and CEO.
Overall, the company says sales for the current third quarter, which ends June 30, show a 71.3 percent sales increase in total nightclub sales over the same period in 2005, with a 25 percent sales increase in same store sales.
The company’s stock closed up 7 cents today at $6.58 per share with a 52-week high reached on May 15 of $7.68 and a 52-week low reached on June 16 of $2.55.
