Houghton Mifflin Harcourt reported second quarter sales on Thursday morning, with trade division sales flat at $37 million, supported by continuing strong sales from their culinary line, including the bestselling April release The Whole30. But that unit had lower EBITDA, of just $412,000, compared to $1.94 million a year ago, with a net loss of -$3.14 million, bigger than the $1.75 million loss a year ago. Companywide sales declined $22 million (or 5 percent) to $380 million “primarily due to the anticipated contraction” in the textbook adoption cycle. Sales would have $18 million lower without the contribution from their acquisition of Scholastic’s EdTech […]
