As a commenter helpfully pointed out, it has recently come to pass that CPICorp (owner of both Sears Portrait Studio and PictureMe Portrait Studios in Walmart) is in danger of being delisted from the New York Stock Exchange. It's price currently sits at about 3.00/share at the time of this post.
"CPI’s stock plummeted 64 percent in the past year as consumers cut back on discretionary purchases, including pictures, as the price of gas and groceries soared. The company is also in the midst of closing 51 of its studios in U.S.-based Wal-Mart stores."
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As a commenter helpfully pointed out, it has recently come to pass that CPICorp (owner of both Sears Portrait Studio and PictureMe Portrait Studios in Walmart) is in danger of being delisted from the New York Stock Exchange. It's price currently sits at about 3.00/share at the time of this post.
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6 comments:
And they're firing people for "poor performance"? Sounds like they need to start at the top, and start firing the people who have run this company into the ground. I know a DM and a TM they could start with...
I can't help but say "hahaha" at the company. Not the poor employees that might lose their jobs because of this. But the corporate side of it for their shady practices, they're getting what they deserve.
After many years with the company, I managed to acquire alot of stock. I'm taking a huge hit right now-but it's almost worth it cuz you know they're FREAKING OUT in St. Louis. This is cause for celebration...unless you stll work for CPI, that is.
Completely agree with the comment that the uppers have run the company into the ground with shady practices. I think you can kill yourself as a manager trying to get people in the door and getting them to buy--but you only have so much control. I don't know of many other companies in which you would be written up for decline in sales or customers. Unless you were doing something terrible that contributed to that. As for firing DMs and TMs, I'm in agreement there too--I honestly think they look to hire people with no souls to fill those positions!
How fitting would it be if their stock price hovered at $4.99?
If they start at the corporate level they won't know where to begin.The "NOW" people in charge of destroying this company are all chief officers.Unless they fire all of them and get people back who grew CPI from it's start,they are destined for failure.This is what happens when you give little Billy a company he knows nothing about, and you fire everyone who does, and you give him free reigns...It was only a matter of time ...GET OUT WHILE YOU CAN!!!YOU CAN QUIT AND STILL COLLECT BECAUSE OF THE SHADY PRACTICES THEY HAVE!!!Best part is you can have a REAL Christmas!!GOOD LUCK!!
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