CafePress Reports Fourth Quarter Financial Results, Decrease in Gross Profit
CafePress released its financial results for the fourth quarter and full year ended Dec. 31, 2016, boasting a rise in stocks, but a decrease in gross profit year-over-year.
According to Yahoo Finance, CafePress reported net revenues up 7.5 percent over the fourth quarter of 2015, but a gross profit margin down 3 percent over the same time period.
CafePress CEO Fred Durham commented on the report in a statement to Yahoo Finance:
We are proud to report year-over-year revenue growth in the fourth quarter, capping a successful year that demonstrates the steady progress we are making. 2016 was a year of inflection for CafePress, as years of revenue decline in the core business slowed quarter over quarter and returned to growth. While we believe we were a bit too aggressive in our pricing strategy during the fourth quarter when holiday demand was wrong, we are actively assessing how to optimize price across CafePress.com and Retail Partner Channels. Our investments in core systems have allowed us to better optimize our customer acquisition efforts and customer experience. From this base, we look forward to re-energizing the consumer experience and making CafePress an even better place to shop.
CafePress also saw a 7.1 percent year-over-year increase in order quantity with more than 3.1 million. For year-over-year fourth quarter results, the company saw a 23.3 percent increase in orders.
"CafePress creates human connection by inspiring people to express themselves with the best assortment of expressive merchandise," Durham said. "For 2017, we look forward to capitalizing on the momentum we've built by further investing in our brand and experience to connect and engage with our customers."
For more information on CafePress, visit www.cafepress.com.