WSJ: What's In The Cards For American Greetings As Habits Change?

Interesting article from Wall Street Journal: http://online.wsj.com/article/BT-CO-20111218-704822.html

Here's an excerpt:

American Greetings is navigating a multiyear decline in industrywide greeting-card sales as more well-wishers express sentiments in email, Facebook and other means of social interaction.

 "You always get the question, will the greeting-card industry hold up with all the electronic stuff coming out?" said Kevin Cassidy, senior credit officer at Moody's Investors Service. "This is a very mature business. You can try to take some share. You come up with some new avenues, some price increases."

American Greetings has made strategic moves in recent years to help it compete with larger rival Hallmark Cards Inc., which is privately held. In 2009, American Greetings exited the retail business and bought Papyrus and Recycled Paper Greetings, honing its focus on its core business making cards. It acquired Watermark Publishing Ltd. earlier this year, boosting its presence in the U.K.

American Greetings also has a small operation selling e-cards and other digital offerings, but its business selling traditional products in North America accounts for the vast bulk of its revenue. 

Read the rest of the article here.


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