In Scholastic’s fiscal first quarter, ending August 31, adjusted sales were just above flat at $191.2 million, after account for the education unit sold to Houghton Mifflin Harcourt, now reported as discontinued operations. Their seasonal net loss of $49.4 million was larger than the $34.1 million adjusted loss of a year ago — typical in that Scholastic generally has a loss in the first quarter, since schools are not in session, but different since it the absence of the EdTech business made the seasonal loss higher. The strong dollar pulled down international sales by $11.7 million. Trade book sales of $47.3 million were […]
