Scholastic reported results for the third quarter ending February 28 and as with the second quarter, overall sales fell 18.5 percent to $380.5 million, and profits declined further. The company reported a net loss of $20.1 million (or 63 cents a share) as compared to a loss of $10.3 million (or 32 cents a share) a year ago, largely because of “significantly lower sales” of the Hunger Games trilogy. Those sales continued to decline even faster than Scholastic was expecting. Scholastic also blamed the overall revenue and profit declines on “a planned increase in investments in digital initiatives” and pointed […]
