Scholastic reported results for their fiscal 2013 first quarter, ending August 31, with both sales and earnings declining in what the company acknowledges is always the slowest part of the year–and one in which they typically record a loss. Sales dropped 7.7 percent to $293.6 million, and their seasonal operating loss was $47.5 million (or $1.02 a share), markedly worse than the $33.2 million loss from a year ago. Revenue in the children’s book publishing and distribution division also declined 8 percent for the quarter, to $71.1 million, reflecting “lower sales of Harry Potter relative to a year ago when […]
