Scholastic announced results for the first quarter ended August 31–a typically softer period–with $226 million in sales, down 5 percent. The operating loss was down 4 percent to $(92.2) million, as expected, and the loss excluding one-time items improved by 4 percent to $(81.9) million. In the Children’s Book Publishing and Distribution segment, sales gained 4 percent to $109 million. Trade sales were almost flat at $73.5 million. School Reading Events sales were up 14 percent to $36 million, with $34 million in Book Fairs (up 18 percent due to the redemption of rewards at the fairs) and $1.8 million […]
