Scholastic Corp Stock Price, News & Analysis

Scholastic Corporation (NASDAQ: SCHL) has announced its schedule for the fourth quarter and fiscal year 2021 earnings release, set for July 22, 2021, at approximately 4:00 PM Eastern Time. The earnings report will be available on the company’s investor and media websites. A conference call will follow at 4:30 PM, featuring key executives including CFO Kenneth Cleary. Participants can join via phone or listen through a live webcast. Archived audio will be available until July 30, 2021.

Scholastic has launched Rising Voices: Books Empowering Girls in STEAM, a classroom library collection aimed at K–5 students. This initiative promotes culturally relevant literature and teaching materials to enhance literacy and social-emotional learning. Addressing gender disparity in STEAM fields, where women constitute only 27% of the workforce, the collection features stories of female protagonists excelling in various STEAM disciplines. It includes 150 engaging texts, teaching guides, and resources to foster inclusive educational environments.

On June 6, 2021, Scholastic Corporation (NASDAQ: SCHL) reported the unexpected passing of its Chairman and CEO, M. Richard Robinson, Jr., at the age of 84. Robinson had significantly influenced the company's strategic direction for nearly five decades. In light of this loss, the Board of Directors expressed deep sorrow, highlighting his contributions to children's literacy and education. The company's operations will continue without interruption under the leadership of James Barge, the lead independent director, along with other executives, while the board will convene to discuss the future leadership and direction.

Scholastic has launched PreK On My Way, a new comprehensive early childhood program that provides print and digital resources in English and Spanish. Developed in collaboration with Yale Child Study Center and UTHealth, this initiative aims to enhance social-emotional learning and vocabulary skills through a research-based curriculum. Key features include over 350 books, hands-on learning activities, family engagement portals, and extensive teacher support. Scholastic leverages over a century of experience in educational resources to support children entering PreK this fall.

Scholastic (NASDAQ: SCHL) announced the appointments of Raghushri Sankaran as Senior Vice President and Chief Information Officer, and Kevin Conklin as Senior Vice President of Corporate Operations. Both join the Management Executive Committee and report to CEO Richard Robinson. Sankaran brings over 20 years of experience, previously leading technology transformations at Scholastic, while Conklin, with 25 years in operations, will oversee global supply chain activities. These appointments aim to enhance Scholastic's technology and operational effectiveness, improving access to educational resources for children globally.

Scholastic's Summer Reading program runs from April 26 to September 3, 2021, focusing on keeping children engaged in reading during summer. With 99% of educators affirming that reading for fun boosts academic success, the initiative provides free access to e-books, virtual author events, and a chance to unlock 100,000 donated print books through participation. Scholastic partners with Save the Children to distribute books in rural areas. The program emphasizes motivation and interaction to foster a love for reading among kids.

On April 9, 2021, Scholastic announced an expansion of summer learning resources focusing on social-emotional support and holistic educational opportunities for students. This initiative aims to build on the momentum of summer reading programs to address the challenging academic impacts of the past year. Key highlights include a free online Summer Reading Program, partnerships with the Yale Child Study Center to support emotional learning, and various summer reading initiatives designed to enhance literacy and access to books for children. For more details, visit Scholastic Summer Reading.

Scholastic Corporation (NASDAQ: SCHL) reported financial results for the fiscal third quarter ending February 28, 2021, revealing a revenue decline of 26% to $277.5 million compared to $373.3 million in the previous year, mainly due to reduced sales in school book fairs amid ongoing COVID-19 restrictions. Despite the revenue drop, the operating loss improved to $24.2 million from $60.0 million year-over-year, aided by cost-reduction efforts. Net loss decreased by 68% to $13.9 million. Notably, the company's trade publishing segment thrived, showcasing strong growth in bestselling titles.

Scholastic Corporation (NASDAQ: SCHL) has declared a quarterly cash dividend of $0.15 per share on its Class A and Common Stock for Q4 of fiscal 2021. This dividend is payable on June 15, 2021 to shareholders recorded by the close of business on April 30, 2021. This announcement reflects the company's commitment to returning value to shareholders.