Scholastic reported financial results for the second quarter ended November 30, with sales of $545 million, down 3 percent, an expected outcome due to the timing of the company’s big book publications. Operating income dropped 26 percent to $74.4 million with adjusted EBITDA down 12 percent to $108.7 million due to lower sales in the children’s publishing and distribution and education solutions segments. In Children’s Publishing and Distribution, sales were down 6 percent to $367 million with operating income down 9 percent to $102.1 million. Trade books sold $103 in the quarter, down 13 percent, due to lower frontlist sales […]
