Scholastic reported earnings results yesterday afternoon for the first quarter of fiscal 2021, ending August 31. Sales were $215 million, down 7 percent compared to $233 million last year, due largely to the delayed reopening of schools. Trade revenue was down $2.2 million, to $71.9 million compared to $74.1 million last year, as the new…
Earnings Reports
Barnes & Noble Education Posts Another Steep Decline
Barnes & Noble Education reported earnings for the first fiscal quarter of 2021 ending August 1, with sales of $204 million, compared to $320 million in last year’s quarter, a decline of 36 percent. The net loss steepened to $(46.7) million, compared to $(32.2) million last year. With the majority of campus bookstores closed all…
Wiley’s Earnings Rebound, with Slight Increase in Sales
Wiley reported first quarter sales for the period ended July 31, with sales of $431 million, compared to $423.5 million last year’s period, an increase of 2 percent. EBITDA was $81.8 million, compared to $57.5 million, up 42 percent and outperforming analysts expectations. Education Publishing sales were $64.1 million, down 2 percent from last year’s…
“Resilience” at PRH US Keeps Companywide Sales Down Slightly In First Half
Bertelsmann reported results for the first half of the year on Tuesday morning, with book publishing as one its more resilient divisions during the pandemic. Sales at Penguin Random House were down 1.4 percent, or €23 million, at 1.627 billion. Operating EBITDA was 7.9 percent lower, at €209 million, €18 million lower than a year…
People, Etc.
Dawn Davis, founder and publisher of 37 Ink, is leaving Simon & Schuster to become editor in chief of Bon Appetit magazine. She succeeds Adam Rappaport, who resigned in June after photos surfaced of him in an offensive Halloween costume in 2004. Canadian independent publishers ECW Press and Annick Press will begin a partnership in…
Barnes & Noble Education Is Finished Considering A Sale
After a lengthy investigation that started last December following “a number of unsolicited inquiries,” the Barnes & Noble Education board has once again found that it is doing a terrific job and has formally ended any consideration of a sale. “An exhaustive strategic review was undertaken and completed,” the release says. Fortunately, “At the same…