Scholastic Corp Stock Price, News & Analysis

On December 1, 2021, Scholastic announced a virtual event featuring J.K. Rowling discussing her new book, The Christmas Pig, airing on YouTube on December 8 at 1 p.m. ET. To celebrate, Scholastic will donate 100,000 children's books to 100 Title 1 schools and 10,000 books to Toys for Tots. The book debuted at #1 on the New York Times bestseller list, maintaining the position for six weeks. It follows Rowling's previous bestseller, The Ickabog, showcasing the company's strong presence in children's literature.

Scholastic (NASDAQ: SCHL) appointed Mary Beech as Chief Marketing & Transformation Officer, effective January 1, 2022. This new role aims to enhance customer centricity and data-driven strategies, particularly in digital engagement. Beech, who has been a board member since 2018, will now oversee initiatives to better connect with educators, caregivers, and children. With a strong background in marketing from brands like Disney and Kate Spade, she seeks to innovate how Scholastic delivers on its mission of promoting literacy among children.

On November 3, 2021, Scholastic announced the School District of Philadelphia as the inaugural winner of the Richard M. Robinson Literacy Champion Award. This award, named after late Chairman Richard Robinson, recognizes urban school districts for advancing reading achievement. Philadelphia's General George G. Meade School will receive over 6,000 books, a library renovation, and a one-year site license to Scholastic Literacy Pro®. These initiatives aim to enhance literacy access and promote a culture of reading among students.

Scholastic Book Clubs has launched The United States of Readers™ program to tackle literacy inequity, funded by a $1.5 million donation from author James Patterson. The initiative will support 32,000 students across 1,500 classrooms, providing them access to books at no cost. The program allows students to select two books five times a year, fostering book ownership. Scholastic aims to empower low-income students and has a goal of reaching 5 million children in Title I schools by 2026. This effort continues Patterson's commitment to literacy, having donated $11 million since 2015.

On September 27, 2021, Scholastic Kids Press announced the selection of 36 new and returning Kid Reporters, aged 10-14, from 18 U.S. states and several countries. This program enables young journalists to report on significant topics affecting children. Last year, they covered events like the U.S. presidential election and the COVID-19 vaccine development. The reports reach over 25 million students through Scholastic magazines. Editor Suzanne McCabe praised the reporters for their dedication and the program's role in providing relevant news to young audiences.

Scholastic Corporation (NASDAQ: SCHL) reported its fiscal first quarter results for 2022, showing revenues of $259.8 million, up 21% from $215.2 million in 2021, driven by strong performance in U.S. trade and education channels. Operating loss improved by 44% to $(32.0) million. The Company experienced a net cash inflow of $63.6 million, a significant turnaround from last year’s loss. The outlook for fiscal 2022 remains positive with expected demand growth in school-based channels despite facing inflationary pressures and supply chain challenges.

Scholastic Corporation (NASDAQ: SCHL) declared a quarterly cash dividend of $0.15 per share on its Class A and Common Stock for Q2 of fiscal 2022. This dividend is set to be payable on December 15, 2021, to shareholders of record by October 29, 2021. With over 100 years in the industry, Scholastic continues its commitment to fostering literacy among children worldwide, distributing books and educational resources across 165 countries through various channels.

Scholastic Corporation (NASDAQ: SCHL) will announce its first quarter fiscal year 2022 earnings on September 23, 2021, at approximately 4:00 PM Eastern Time. A conference call will follow at 4:30 PM, led by CEO Peter Warwick and CFO Kenneth Cleary. Participants can join via phone or access the webcast on the company's investor relations website. The archived audio and slides will be available post-call until October 1, 2021. Scholastic is a leading publisher and distributor of children's books and educational materials, committed to supporting literacy worldwide.

On September 2, 2021, Scholastic announced that Gwendoline Christie will narrate the audiobook of Kaleidoscope, a book by bestselling author Brian Selznick. The story, releasing on September 21, 2021, explores themes of love and loss and is already receiving acclaim with multiple starred reviews. The audiobook will also feature original music by Robert Een, enhancing the immersive experience. Scholastic’s President, Lori Benton, highlighted the unique reading experience, emphasizing the anticipation surrounding this release.