INVENTORIES

6 Months Ended

Jul. 23, 2011

NOTE 3 -

INVENTORIES

Inventories consist of:

in thousands	July 23, 2011		February 5, 2011

Raw materials - film, paper and chemicals	$	1,794	$	2,130
Portraits in process		1,765		1,274
Finished portraits pending delivery		142		97
Frames and accessories		279		230
Studio supplies		2,969		2,556
Equipment repair parts and supplies		890		627
Other		505		546

Total	$	8,344	$	7,460

These balances are net of obsolescence reserves totaling $67,000 and $38,000 at July 23, 2011, and February 5, 2011, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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