Scholastic’s Sales Fell 40% in Q4, Even as Trade Books Surged

Scholastic reported fourth quarter and full-year results for the period ending May 31 on Thursday afternoon. As expected, school closures due to coronavirus weighed heavily on their performance for the quarter, with overall sales of $284 million, down 40 percent compared to $471 million last year. Trade sales, however, surged to $80.4 million from $55.4…