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Bloomberg: Shutterfly bonds fall on delay of annual report Earnings reports 

Bloomberg: Shutterfly bonds fall on delay of annual report

GaryPageau , , ,
Bloomberg Law reports Apollo Global Management-backed Shutterfly LLC’s bonds fell Tuesday, April 18, after the photo products retailer informed investors it will delay the release of its annual results for 2022, according to people with knowledge of the matter. According to the report from Bloomberg’s Reshmi Basu and Erin Hudson, Shutterfly advised debt holders it amended its credit documents to... Read More
Shutterfly CEO talks to Bloomberg about pandemic impact News 

Shutterfly CEO talks to Bloomberg about pandemic impact

GaryPageau , ,
Shutterfly CEO Hilary Schneider spoke with Romaine Bostick from the Milken Global Conference about consumer headwinds and tailwinds during the pandemic. They also discuss how Shutterfly is preparing against global supply chain issues. “Shutterfly is a mixture of businesses so we have Shutterfly which is a consumer business snappish which is a consumer business and then Lifetouch which is a... Read More
Olympus CEO concedes camera division may be up for sale, via Bloomberg News 

Olympus CEO concedes camera division may be up for sale, via Bloomberg

GaryPageau ,
Rumors on various gearhound websites have speculated Olympus Corp. may shut down its camera division within eight months; it’s not normally the policy of the Dead Pixels Society to report possibly damaging rumors, especially an unsourced one. In this case, however, Bloomberg news reports Olympus CEO Yasuo Takeuchi said the company is preparing for job cuts “in due course” to “improve... Read More
Bloomberg estimates Instagram is worth more than $100 billion News 

Bloomberg estimates Instagram is worth more than $100 billion

GaryPageau , ,
Bloomberg Intelligence estimates Facebook has done well with its 2012 billion-dollar purchase of Instagram. If the photo-sharing service were its own company, Bloomberg Intelligence analyst Jitendra Waral estimates Instagram would be worth $100 billion, a 100X return on its $1 billion purchase. Earlier this week, Instagram surpassed 100 million users and is on pace to double that in five years.... Read More
Bigger isn’t better: The trouble with photo retail Opinion 

Bigger isn’t better: The trouble with photo retail

GaryPageau , , , , , , , ,
The news Canadian carrier Telus was shuttering the remnant of the venerable Black Photo brand in Canada, with the last 59 stores closing in August, sent shockwaves to long-time photo-industry executives. For a U.S. person, it’s hard to understand the impact of Black’s Photo on the Canadian market. The slogan “Black’s IS Photography” wasn’t just a slogan. Canadians believed it.... Read More