Scholastic reported results for the second quarter ending November 30, and as the company warned a month ago, overall sales fell 10 percent to $616.2 million, and profits declined further. The company reported a net profit of $61.8 million (or $1.89 a share) as compared to $82.8 million (or $2.62 a share) a year ago, in part because of declining Hunger Games trilogy sales as well as declining book club revenues and lower sales of higher margin educational technology products. Revenue in the children’s book publishing and distribution division was also down almost 11 percent to $350.1 million, and trade […]
