Scholastic announced results for the fiscal third quarter ended February 29, with sales of $323.7 million, nearly even with $324.9 million a year ago. “Lower U.S. Book Clubs revenues of approximately $14.4 million related to the strategic repositioning of the business, were offset by strong trade publishing revenues in the U.S., Canada and the UK, which benefited from the sales of popular book series titles,” the company said in a release. Operating loss increased 26 percent to $(34.9) million, while adjusted EBITDA decreased 33 percent to (7.2) million. In Children’s Book Publishing and Distribution, the good news was that consolidated […]
