ST. LOUIS, Feb. 8, 2012 /PRNewswire/ -- CPI Corp.
(NYSE: CPY) (OTCQX: CPIC) today announced it will commence trading
on OTCQX under "CPIC" as of February
9, 2012. The Company previously announced the planned
transition from NYSE to OTCQX, the highest tier of the OTC market,
on February 3, 2012.
Investors will be able to view real time stock quotes for "CPIC" at
http://www.otcmarkets.com/stock/5012/quote.
The Company will continue to file periodic and other reports
with the Securities and Exchange Commission under applicable
federal securities laws and continue its commitment to transparency
and the highest standards of governance.
About CPI Corp.
For more than 60 years, CPI Corp. has been dedicated to helping
customers conveniently create cherished photography portrait
keepsakes that capture a lifetime of memories. Headquartered
in St. Louis, Missouri, CPI Corp.
provides portrait photography services at approximately 3,000
locations in the United States,
Canada, Mexico and Puerto
Rico and offers on location wedding photography and
videography services through an extensive network of contract
photographers and videographers. CPI's digital format allows
its studios and on location business to offer unique posing
options, creative photography selections, a wide variety of sizes
and an unparalleled assortment of enhancements to customize each
portrait – all for an affordable price.
Forward-Looking Statements
The statements contained in this press release that are not
historical facts are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, and
involve risks and uncertainties. The Company identifies
forward-looking statements by using words such as "preliminary,"
"plan," "expect," "looking ahead," "anticipate," "estimate,"
"believe," "should," "intend" and other similar expressions.
Management wishes to caution the reader that these forward-looking
statements are only predictions or expectations; actual events or
results may differ materially as a result of risks facing the
Company. Such risks include, but are not limited to: the
Company's dependence on Walmart, Sears and Toys "R" Us, the
approval of the Company's business practices and operations by
Walmart, Sears and Toys "R" Us, the termination, breach, limitation
or increase of the Company's expenses by Walmart under the lease
and license agreements and Sears and Toys "R" Us under the license
agreements, the Company's ability to comply with its debt covenants
under its revolving credit facility, the Company's ability to
generate sufficient cash flow or raise additional capital to cover
its operating expenses, the inability of the Company to pay
dividends, the transfer of the trading of the Company's common
stock from the New York Stock Exchange to the OTCQX Marketplace,
the integration of the Bella Pictures® operations into the Company
and the continued development and operation of the Bella Pictures®
business, customer demand for the Company's products and services,
the development and operation of the Kiddie Kandids business, the
effect of litigation and other claims facing the Company, the
economic recession and resulting decrease in consumer spending,
manufacturing interruptions, dependence on certain suppliers,
competition, dependence on key personnel, fluctuations in operating
results, a significant increase in piracy of the Company's
photographs, widespread equipment failure, restrictions on the
Company's business imposed by agreements governing its debt,
implementation of marketing and operating strategies, impact
of declines in global equity markets to the pension plan and the
impact of foreign currency translation. The risks described
above do not include events that the Company does not currently
anticipate or that it currently deems immaterial, which may also
affect its results of operations and financial condition. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE CPI Corp.