CPI Corp (CPY) Comps Declined 2% in December and Holiday 2009

CPI Corp. (NYSE: CPY) today announced fourth quarter-to-date sales comparisons for the first eight weeks of its fiscal 2009 fourth quarter including holiday season results. Total same-store sales for the eight-week period ended January 9, 2010, on a point-of-sale basis excluding foreign currency translation effects, decreased 2% versus the comparable eight-week period of fiscal 2008.

Same-store sales at the Company's PictureMe Portrait Studios in Walmart Stores increased by 6% for the first eight weeks of the fourth quarter and sittings decreased by 9%, while same-store sales and sittings at Sears Portrait Studios declined by 8% and 14%, respectively. These results reflect a continuation of the positive holiday sales trend reported in the Company's third-quarter earnings release on December 22, 2009.

"We are pleased with our busy season performance, particularly in light of very difficult industry conditions," said Renato Cataldo, chief executive officer and president. "We believe these results are evidence of the distinctive, high-quality product offering we are able to provide families through our state-of-the-art digital technology platform. The improved sales comparisons also validate our aggressive marketing efforts and customer service programs and lend confidence as we look forward to 2010."

The Company's disclosure of 2009 holiday sales continues a practice commenced following the 2004 holiday season in recognition of the importance of holiday sales to the Company's annual performance. Final results for the Company's fiscal year 2009, which ends February 6, 2010, are anticipated to be reported in mid-April 2010.

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