Scholastic Slumps On Book Weakness
Scholastic Corporation shareholders received another chapter of the company’s book. And unfortunately, they didn’t like what they read. ☹️
The education and media company’s first-quarter loss widened, and revenues declined due to continued softness in the retail book market. An adjusted loss per share of $2.20 on revenues of $228.5 million missed analyst expectations of a $1.35 per share loss on $268.8 million in revenues.