Sales rose at Scholastic in their fiscal 2012 first quarter, ending August 31, up 9.5 percent at $318 million. Their seasonal operating loss was $33.2 million (or 81 cents a share), an improvement from a loss of $46.3 million a year ago. Both results were well ahead of analysts’ estimates, with expectations of a loss of over a dollar a share and sales of $302 million. The company announced a voluntary retirement program, which will cost approximately $10 million to $15 million in one-time charges, as part of a broader initiative to “reduce costs in non-digital areas by approximately $15 […]
