Welcome to our dedicated page for Scholastic news (Ticker: SCHL), a resource for investors and traders seeking the latest updates and insights on Scholastic stock.
Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books, and a leading provider of both print and digital instructional materials from pre-kindergarten to grade 12. For over a century, Scholastic has been committed to fostering literacy and intellectual growth among children globally. The company is well-known for its diverse range of products that include best-selling books, e-books, and technology-based learning materials, as well as its classroom magazines and educational media.
Some of Scholastic's flagship titles include globally beloved series such as Harry Potter, The Hunger Games, Clifford the Big Red Dog, Goosebumps, and The Magic School Bus. These offerings are part of its three main business segments: Children's Book Publishing and Distribution, Education Solutions, and International.
Scholastic's recent initiatives highlight its continuous innovation in the educational field. The company has launched the 2023-2024 Teacher Fellows program, which collaborates with educators to develop effective classroom resources. Furthermore, the company's investment in 9 Story Media Group aims to expand its reach in children's media, enhancing its ability to bring quality educational content to various platforms.
In a recent partnership with Little Free Library, Scholastic has also demonstrated its commitment to increasing book accessibility by donating 50,000 copies of Dog Man to underserved communities. Another notable project is the
On December 15, 2021, Scholastic Corporation (NASDAQ: SCHL) announced a quarterly cash dividend of $0.15 per share for its Class A and Common Stock. This dividend will be paid on March 15, 2022, to shareholders on record as of January 31, 2022. This move reflects the company's commitment to returning value to shareholders while continuing its role as a leader in children's education and literacy.
Scholastic Corporation (NASDAQ:SCHL) has announced its schedule for the second quarter fiscal year 2022 earnings release. The earnings will be publicly released on December 16, 2021, at approximately 4:00 PM ET, and accessible via the company's investor website. A conference call will follow at 4:30 PM ET, hosted by President and CEO Peter Warwick and CFO Kenneth Cleary, with participation details provided. Archived webcasts will also be available post-call. Scholastic has over 100 years of experience in promoting children's literacy and education.
Scholastic announces the release of Cat Kid Comic Club: On Purpose, a new title in the bestselling series by Dav Pilkey, set to launch on April 5, 2022, in multiple countries including the U.S., Canada, and U.K. This follows the recent publication of Cat Kid Comic Club: Perspectives. The series has received numerous accolades for its humor and art, engaging children worldwide. Pilkey's work accounts for significant market shares in graphic novels and middle-grade sales, indicating strong demand and potential for continued success.
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.
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