Profits Fall at Scholastic Sales at Scholastic for the second quarter rose just two percent to $697 million as income fell 8 percent to $67 million. The company says “lower profits in the quarter reflected a decline in International results and modestly lower profits in Children’s Book Publishing and Distribution, partly offset by lower overhead costs.” CEO Dick Robinson adds, “The impact of hurricanes on the company, challenges in School Book Clubs and Continuities, and investments to restructure our business in the United Kingdom were all factors contributing to lower profits in the second quarter.” Potter-powered trade sales rose 11 […]
