Everything from the auto industry to the real estate market to retail sales are in the shitter. People can barely get by on their take-home pay and put food on the table — but the flesh fantasy business is as robust as ever, according to this release by national strip club chain Rick's Cabaret:
HOUSTON – (November 14 2008) – Rick's Cabaret International, Inc. (NASDAQ: RICK), the premier chain of upscale gentlemen's clubs, said its nightclub sales in October were $6.1 million, a 113 percent increase over October 2007. Sales at clubs operated for more than a year were up eight percent over the previous year's October results.
"These results are so outstanding that we have made an exception to our policy of announcing sales only on a quarterly basis, so that we could bring the news out sooner," said Eric Langan, President and CEO of Rick's Cabaret.
Mr. Langan said that sales were up nearly 30 percent at the company's flagship New York City club, which had a record month. Each of the company's brands — Rick's Cabaret, XTC Cabaret and Club Onyx — reported sales increases over the previous year.
"Our Tootsie's Cabaret in Miami continues to perform ahead of original expectations," said Mr. Langan. "Our newest club, Rick's Cabaret Las Vegas, is dealing with the general slowdown in Las Vegas traffic."
This article appears in Nov 12-18, 2008.