Kodak Sells Fox Photo to Wolf Camera

Eastman Kodak Co. sold the Fox Photo chain of photography stores that it bought just 20 months ago. Neither Kodak nor the buyer, privately held Wolf Camera Inc., would disclose terms of the sale. The transaction, which Alpharetta, Ga.-based Wolf said was an all-cash deal, is expected to close in early September. Rochester, N.Y.-based Kodak, the world’s largest photography company, bought the 460-store chain from CPI Corp. for $110 million. Kodak is trying to reverse six straight quarters of declining profit and beat back Fuji Photo Film Co.’s success in winning a bigger share of the U.S. film market. Kodak shares fell 13 cents to close at $73.19 on the NYSE.