Staples, Inc. and Platinum Equity today announced a definitive agreement under which Platinum Equity will acquire Staples’ business in Australia and New Zealand for an undisclosed sum. The transaction is expected to close in the second calendar quarter of 2017. “As we execute our plan for long-term growth we want to focus primarily on our Staples’ North American business, and this will allow us to better do that,” said Shira Goodman, Chief Executive Officer and President, Staples, Inc. “Working with Platinum, we believe the Australian and New Zealand businesses will be well positioned for the future, ultimately helping our customers and associates succeed.” click Read More below for additional detail
Shutterfly, Inc. (NASDAQ:SFLY), the leading manufacturer and digital retailer of high-quality personalized products and services offered through a family of lifestyle brands, today announced financial results for the fourth quarter and full year-ended December 31, 2014.
“2014 was another outstanding year for Shutterfly,” said Jeffrey Housenbold, President and CEO of Shutterfly. “We delivered record results for revenue, adjusted EBITDA, and free cash flow, and we also returned nearly $90 million of capital back to our shareholders through our share repurchase plan. We continue to thoughtfully balance our strategic investments across our multiple objectives of gaining market share, widening our competitive moat, and driving continuous innovation to deliver increased shareholder value over both the short and long term.”
Fourth Quarter 2014 Financial Highlights
* Net revenues totaled $483.3 million, an 18% year-over-year increase.
* Fourth quarter 2014 represents the 56th consecutive quarter of year-over-year net revenue growth.
* Consumer net revenues totaled $462.9 million, a 16% year-over-year increase.
* Enterprise net revenues totaled $20.4 million, a 67% year-over-year increase.
* Gross profit margin was 58% of net revenues, compared to 60% in the fourth quarter of 2013.
* Consumer gross profit margin was 60.7% of net revenues. (1)
* Enterprise gross profit margin was 12.9% of net revenues. (1)
Full Year 2014 Financial Highlights
* Net revenues totaled $921.6 million, an 18% year-over-year increase.
* Consumer net revenues totaled $871.0 million, a 17% year-over-year increase.
* Enterprise net revenues totaled $50.6 million, a 34% year-over-year increase.
* Gross profit margin was 50.9% of net revenues, compared to 52.8% in 2013.
* Consumer gross profit margin was 54.7% of net revenues. (1)
* Enterprise gross profit margin was 14.2% of net revenues. (1)
read more/source: http://ir.shutterfly.com/releasedetail.cfm?ReleaseID=896201