Scholastic Corp Stock Price, News & Analysis

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.

Scholastic Corporation (NASDAQ:SCHL) announced its schedule for the third quarter fiscal year 2021 earnings release on March 18 at 4:00 PM (Eastern). The conference call follows at 4:30 PM, featuring Chairman Richard Robinson and CFO Kenneth Cleary. Interested participants can join by calling (877) 654-5161 or +1 (678) 894-3064 for international calls. A live webcast will be available on Scholastic's investor website. An archived version of the call will be accessible post-event. Scholastic is recognized for its contributions to children's literacy and education globally.

Scholastic announced the release of Kaleidoscope, a new novel by acclaimed author and illustrator Brian Selznick, set for publication on September 21, 2021. The book targets readers aged 10 and up and is described as a multi-dimensional narrative exploring themes of love and loss, featuring twenty-four chapters with unique illustrations. Scholastic's Trade Division President, Ellie Berger, praised Selznick's innovative storytelling, while Brian Selznick highlighted how the pandemic influenced the transformation of the narrative.

Scholastic Corporation (NASDAQ: SCHL) reported a 32% revenue decline in its fiscal second quarter, totaling $406.2 million due to COVID-19 disruptions affecting book fairs. Operating income fell 54% to $48.8 million. Despite challenges, trade and education segments showed resilience, with famous titles driving a 21% increase in trade sales. The company achieved $69.5 million in cost reductions and aims for improved profit margins as schools reopen. However, no financial outlook for FY2021 was provided due to ongoing uncertainties.

Scholastic (NASDAQ: SCHL) has announced key leadership appointments effective January 1, 2021. Beth Polcari transitions to President, International, succeeding Nelson Hitchcock, who retires after 15 years. Rose Else-Mitchell rejoins as President, Education Solutions, leading the merger of two divisions into a single group by June 1, 2021. Current Education President, Greg Worrell, will advise on partnerships until his retirement in December 2021. These changes aim to enhance growth and global impact as Scholastic enters its second century.