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at MarketWatch.com (Dec 22, 2011)
at MarketWatch.com (Dec 21, 2010)
Jan. 13, 2012, 1:17 PMPortrait studio operator CPI Corp. (CPY -1.5%) says same-store holiday sales sank amid weakness in its PictureMe Portrait Studio and Sears Portrait Studio brands. The company runs about 3,000 portrait photography studios, with most of its locations in Sears (SHLD -0.2%) and Wal-Mart (WMT -0.6%) stores. | 3 Comments
Dec. 22, 2011, 10:56 AMIt's not just CPI's (CPY -54.5%) weak Q3 results that are crushing shares; the company amended its credit agreement to suspend the leverage ratio test for Q3 or it would not have been in compliance, and the amendment reduced its revolving commitment to $90M from $105M. It also suspended dividend and other restricted payments, including share repurchases. | Comment!
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