Sales at Scholastic fell $24.7 million or 8 percent, at $290.9 million for their fiscal first quarter, and the operating loss (before interest and taxes) was $46.8 million, 33 percent higher than a year ago. In their children’s book and publishing division, sales of $72.8 million were down 3.4 percent, with an operating loss of $51.6 million. But Scholastic says trade sales rose 9 percent, thanks in part to Suzanne Collins, while expenses reflected “the planned increase in spending on digital initiatives.” The company says Scholastic Education revenue suffered from comparisons to last year, when they “benefited significantly from the […]
