Shutterfly Inc., where B2B sales have been sparking total revenue, is turning to Amazon.com Inc. to shore up its sales and profits.
Shutterfly last week appointed Christopher North, the head of Amazon.com’s operations in the United Kingdom, as its new president and CEO effective May 31. North, who will also serve on Shutterfly’s board, will succeed interim CEO Phil Marineau, who has served in the top job since the departure last month of former CEO Jeffrey Housenbold.
North arrives at a time when Shutterfly has been trying to improve its financial performance. The company posted a net loss last year of $843,000, despite a fourth-quarter profit of $131 million tied to its peak holiday season.
The company, which posted $1.06 billion in full-year 2015 sales, up 15% from the prior year, sells marketing materials to businesses as well as photography products and services to consumers through Shutterfly.com and other sites including ThisLife.com, WeddingPaperDivas.com and TinyPrints.com. It also operates a photography equipment rental site at BorrowLenses.com. About 90.7% of its sales are to consumers, but a stepped-up focus on business customers in recent years has resulted in sharp increases in B2B revenue—what the company refers to as “enterprise revenue”—generated by Shutterfly Business Solutions, or SBS.
For more about Shutterfly and its new CEO, click here.