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Shutterfly changes CFO News People on the Move 

Shutterfly changes CFO

GaryPageau ,
Shutterfly continues to shake up its top management as new CEO Sally Pofcher has added a new CFO, naming Jan Paul Teuwen as Senior Vice President and Chief Financial Officer (CFO), effective Sept. 11, 2023. Teuwen succeeds Mike Eklund, who will be stepping down from the CFO role to pursue other opportunities. Teuwen most recently served as Chief Financial Officer for... Read More
Shutterfly closing Shakopee manufacturing plant, laying off 246 employees News 

Shutterfly closing Shakopee manufacturing plant, laying off 246 employees

GaryPageau , ,
Shutterfly continues to consolidate the operations within its Lifetouch National School Portraits business unit, as it closes production facilities where work will be folded into the greater Shutterfly infrastructure. According to a local CBS affiliate, Shutterfly will close the Shakopee manufacturing plant, laying off 246 employees, in 2024. “The Minnesota Department of Employment and Economic Development says the California-based company... Read More
Shutterfly customer data not exposed in latest breach News 

Shutterfly customer data not exposed in latest breach

GaryPageau , ,
Personalized photo products leader Shutterfly was again the target of a data breach but said customer data was not exposed. According to Cybernews, Shutterfly was the latest in a batch of high-profile victims – like Warner Bros. Discovery and AMC Theatres – announced by the Russian-affiliated Cl0p ransomware group. Shutterfly’s Vice President of Communications, Jennifer George, confirmed to Cybernews the company... Read More
New York Times rates online photo services Marketing News 

New York Times rates online photo services

GaryPageau , , , ,
The New York Times‘ influential gear blog Wirecutter did an extensive round-up of online photo services. The round-up was conducted by Phil Ryan, Wirecutter’s senior staff writer for camera coverage. Previously, for more than 13 years, Ryan covered cameras and other photo-related items for CNET and Popular Photography. The top choice was Nations Photo Lab, which has been a favorite... Read More
Shutterfly announces early settlement of the exchange offer Investments News 

Shutterfly announces early settlement of the exchange offer

GaryPageau
Shutterfly LLC announced it has closed its previously announced refinancing transaction. Earlier this year, news reports showed debt holders of the privately-held Shutterfly were seeking better terms after poor 2022 results. Details are in the press release below: Shutterfly, LLC (the “Company,” “we,” “our” and “us”) today announced that, on June 9, 2023, Shutterfly Finance, LLC, a subsidiary of the... Read More
Shutterfly announces early tender offer results for exchange offer News 

Shutterfly announces early tender offer results for exchange offer

GaryPageau
Personalized photo products leader Shutterfly announced the early results of its previously announced tender exchange offer. The San Jose-based company has been struggling to manage its debt load and, in May, announced to plans raise “approximately $200 million of additional debt financing, extend existing debt maturities, and meaningfully improve liquidity.” The heavily legalese-laden announcement indicates the tender offer is being... Read More
Shutterfly restructures debt Investments News 

Shutterfly restructures debt

GaryPageau ,
Shutterfly, LLC announced the launch of a debt exchange offer and consent solicitation for eligible noteholders, as detailed here in the press release. The announcement follows reports that Shutterfly has been struggling to service its debt on lagging sales. The U.S.’s leading personalized photo products company, Shutterfly replaced its CEO last week. Pursuant to a Transaction Support Agreement entered into... Read More
Shutterfly appoints Sally Pofcher as CEO People on the Move 

Shutterfly appoints Sally Pofcher as CEO

GaryPageau , ,
U.S. photo personalization giant Shutterfly announced experienced retail executive Sally Pofcher has joined the privately-held company as Chief Executive Officer. Hilary Schneider, Shutterfly’s CEO since 2019, will transition to a strategic advisor to the Company’s Board of Directors, the company said in a statement. Pofcher joins the Shutterfly executive team with more than 30 years of experience in growing and... Read More
Shutterfly extending photo deletion date following customer complaints New Products News 

Shutterfly extending photo deletion date following customer complaints

GaryPageau
A Boston TV station acted quickly when a viewer complained that Shutterfly‘s new photo deletion policy for customers who no longer place orders resulted in her photos being unintentionally deleted. As a result, the leading photo personalization products company has extended its deadline for deleting customer photos from inactive accounts from March 29 to May 30, 2023. According to the... Read More
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
Jostens joins Minneapolis office space downsizing trend News 

Jostens joins Minneapolis office space downsizing trend

GaryPageau ,
School ring maker, yearbook, and school photography company Jostens has become the latest corporation to join the office downsizing trend, announcing Wednesday it will sublease two of its three floors of headquarters space in a Bloomington, Minnesota, building, according to the Star Tribune. Jostens, which has been in the Minnesota Center building since 2018, has hired Monarch CRE to sublease... Read More
Update: Shutterfly layoffs impact 360 News 

Update: Shutterfly layoffs impact 360

GaryPageau ,
Personalized photo products leader Shutterfly Inc. management is reducing staff by 360 employees, according to a company-wide email. The announcement was not made public but the topic is a hot one on LinkedIn and on layoff tracking sites. The Dead Pixels Society has reached out to Shutterfly for comment but has yet to receive a response. [Update: The Minneapolis Star Tribune... Read More
Target transfers photo department to EZ Prints News 

Target transfers photo department to EZ Prints

GaryPageau , , ,
Another major North American retailer is transferring it branded photo printing site to a traditional photo site. Target Photo has elected to transfer its business to a partner, EZ Prints. In an announcement posted on the site, Target says users can migrate their account to the EZ Prints site. This is the second major announcement of a large retailer doing this,... Read More
JCPenney Portraits by Lifetouch promoting dog adoption News 

JCPenney Portraits by Lifetouch promoting dog adoption

GaryPageau ,
Beginning Jan. 24, Change a Pet’s Life Day, JCPenney Portraits by Lifetouch is offering is partnering with local animal shelters in 10 U.S. cities to help senior dogs find a home. In addition, the company is offering free pet portrait for customers at JCPenney Portraits by Lifetouch. “As a brand focused on supporting families on every occasion, we care about the... Read More
Costco picks Shutterfly to fulfill online photo services Partnerships 

Costco picks Shutterfly to fulfill online photo services

GaryPageau , , , , ,
Costco Wholesale Club is making drastic changes to its photo program, continuing an apparent ongoing exodus from active participation in the category. The company, which closed its in-warehouse labs in 2021, announced that Costco has partnered with category leader Shutterfly to offer a 51-percent discount and free shipping on orders priced above $49. Beginning Jan. 11, Costco customers can transfer photo... Read More