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.
About Scholastic Corporation
Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books, renowned for its commitment to literacy, education, and enriching children's lives through storytelling. Headquartered in New York, Scholastic operates across three primary business segments: Children's Book Publishing and Distribution, Education Solutions, and International. With a legacy spanning over a century, the company has become a trusted partner to educators, families, and communities worldwide.
Core Business Operations
Children's Book Publishing and Distribution: This segment is the cornerstone of Scholastic's operations, encompassing school-based book clubs, book fairs, and trade publishing. Scholastic brings beloved franchises like Harry Potter, Dog Man, The Hunger Games, and Clifford the Big Red Dog to millions of readers. Its book fairs and clubs provide schools with engaging, affordable books while fostering a love for reading among children.
Education Solutions: Scholastic supports pre-K to grade 12 education with a wide range of print and digital instructional materials, classroom magazines, and professional development resources. Grounded in the Science of Reading, these offerings help educators implement effective literacy programs and structured learning environments tailored to diverse student needs.
International: Scholastic's global reach spans over 135 countries, delivering books, educational materials, and media content to diverse markets. The company's international operations include localized book fairs, trade publishing, and partnerships with schools and libraries worldwide.
Media and Content Expansion
Scholastic has strategically expanded its presence in children's media through its Scholastic Entertainment division. This includes award-winning productions like Clifford the Big Red Dog and The Magic School Bus. The company's acquisition of 9 Story Media Group enhanced its production, distribution, and licensing capabilities, allowing it to leverage its intellectual property across print, screen, and merchandising platforms. This 360-degree content creation strategy strengthens Scholastic's ability to engage children through multiple touchpoints.
Competitive Strengths
- Iconic Franchises: Scholastic owns the rights to globally recognized book series and characters, ensuring a steady demand for its content.
- Integrated Business Model: The company's ability to connect print publishing, digital media, and education solutions creates a unique value proposition.
- Trusted Brand: With a reputation built over 100 years, Scholastic is a go-to resource for educators and families seeking quality educational materials and children's books.
- Global Reach: Scholastic's extensive international operations and exports enable it to serve diverse markets effectively.
Challenges and Market Context
Scholastic operates in a competitive landscape influenced by digital transformation, fluctuating school budgets, and changing consumer preferences. The company addresses these challenges by investing in digital learning platforms, expanding its media portfolio, and maintaining its focus on high-quality, culturally relevant content. Its ability to adapt and innovate ensures its continued relevance in the evolving education and entertainment sectors.
Commitment to Literacy and Learning
At its core, Scholastic's mission is to "open a world of possible" for children, empowering them through reading and learning. By combining traditional publishing with cutting-edge media and educational tools, Scholastic continues to inspire generations of readers and learners worldwide.
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.
Scholastic Corporation (NASDAQ: SCHL) has declared a quarterly cash dividend of $0.15 per share on its Class A and Common Stock for the third quarter of fiscal 2021. The dividend will be paid on March 15, 2021, to shareholders on record by the close of business on January 29, 2021. This announcement reflects the company's ongoing commitment to returning value to shareholders while maintaining its strong position in the children's publishing market.
Scholastic Corporation (NASDAQ:SCHL) has announced its schedule for the second quarter fiscal year 2021 earnings release. The earnings will be released on December 17, 2020, at approximately 4:00 PM Eastern, accessible via the company's websites. A subsequent conference call will occur on the same day at 4:30 PM Eastern, hosted by CEO Richard Robinson and CFO Kenneth Cleary. Interested parties can join by calling (877) 654-5161 or +1 (678) 894-3064 for international calls. An archived version of the call will be available until December 24, 2020.
Scholastic has partnered with civil rights icon Ruby Bridges to launch a multi-book publishing program featuring three new picture books. This collaboration celebrates Bridges' legacy on the 60th anniversary of her groundbreaking integration into an all-white elementary school. The first book, I Am Ruby Bridges, will be published in spring 2022, followed by Dear Ruby Bridges in spring 2023, and A Talk with My Teacher. The initiative aims to educate children about diversity and inclusion, aligning with Bridges' mission to inspire young minds.
Scholastic is adapting its Book Fairs amid the challenges of the 2020 academic year by offering drive-through, virtual, and revamped in-person options. These changes aim to provide students with a sense of normalcy while adhering to safety guidelines. The new models include safety kits for in-person fairs, outdoor setups for drive-through events, and an online platform for virtual shopping. Scholastic emphasizes the importance of these fairs in raising funds for schools and engaging students in reading despite ongoing disruptions.
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