Scholastic announced earnings for the first quarter of 2023, ended August 31, with sales of $263 million, up 1 percent from last year. The company said results were “on plan” for the quarter, which usually reports an operating loss, with a typical dip in the summer when kids are out of school and investments in Education Solutions. That operating loss this quarter was $(58.1) million, compared to $(32.0) million last year. The greater loss was due to increased freight costs and lower sales in Education Solutions. Last year results also benefited from “the timing of shipments related to the pandemic.” […]
