Shutterfly, Inc. Announces Formation of Strategic Review Committee
Summary
REDWOOD CITY, Calif.--( BUSINESS WIRE )--Shutterfly, Inc. (NASDAQ:SFLY), the leading retailer and manufacturing platform dedicated to helping capture, preserve, and share life’s important moments, today announced that its Board of Directors has formed a Strategic Review Committee and retained Morgan Stanley as financial advisor, as it continues an ongoing review of strategic alternatives. As we take this step, we also believe Shutterfly is in a position of strength as a leader in each of its businesses with opportunities to create shareholder value,” said Will Lansing, Chairman of the Board. Currently, the management team believes it will be in position to begin executing on a capital return plan during the fourth quarter of 2019. Lifetouch is the national leader in school photography, built on the enduring tradition of “Picture Day,” and also serves families through portrait studios and other partnerships. Shutterfly Business Solutions delivers digital printing services that enable efficient and effective customer engagement through personalized communications.