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Corporate: Scholastic Closes DCs in Cost Cutting, Bloomsbury Acquires Zed, and More

March 20, 2020
By Sara Grace

Scholastic reported results for the third quarter ending February 29, and announced cost and service cuts due to the pandemic: “We are taking aggressive actions to reduce operating expenses throughout the company, including the temporary closing of warehousing and distribution centers, and a freeze on hiring, travel and other discretionary spending not directly tied to short-term revenue, while working hard to ensure the safety and well-being of our staff worldwide,” ceo Richard Robinson said in the release. Overall sales for the quarter were $373 million, up $13 million compared to a year ago. Trade sales were even stronger — at […]

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Filed Under: Earnings Reports, Education, Finance, How Publishing Works, M&A, Publishers

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