Shutterfly CEO sees “choppy” times coming

Shutterfly CEO Hilary Schneider told the Associate Press the economic outlook is “choppy.”

“We’re certainly going through an economic reconciliation here,” she said. “It’s hard to remember what that’s like because we have been in a bull market for so long. But those of us with some gray hair have seen this before. I think the reality is it’s a choppy environment. While we are not in a recession yet, there are certainly things that are impacting everyone already. You have the war in Ukraine, you have inflation, you have supply chain issues, and higher labor costs with nearly full employment.

So that puts everyone in a cautious mode because of the lack of predictability about not only the next day or the next week, but what the next month is going to be. When my boys were young, I remember in soccer they would line them up and teach them to get into a crouch so they could react to the ball. I feel like that’s what all these businesses are doing right now.”

Schneider also added, from her conversations with venture investors fewer companies are being funded: “Everybody is a little more risk averse in this current environment.”

In other Shutterfly news, HP provided a tour of the company’s Plano, Texas, facility, featuring 20 HP Indigo presses.