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
Scholastic (NASDAQ: SCHL) has appointed Stacey Jaffe as its new Chief Digital Officer, effective immediately. In this newly created role, Jaffe will lead Scholastic's data initiatives and digital practice, focusing on transforming customer insights into strategies and digital solutions. She will be responsible for enhancing the company's digital expression, improving customer experiences, and utilizing data to optimize business operations.
Jaffe, who joined Scholastic in 2018, previously served as Senior Vice President of Data & Digital Strategy. Her appointment underscores Scholastic's commitment to investing in growth opportunities and leveraging digital channels to create value for the company, customers, and shareholders. CEO Peter Warwick expressed enthusiasm for Jaffe's expanded role, highlighting her impressive achievements in digital expertise.
Scholastic (NASDAQ: SCHL) has released a Family Guide with new data from the Kids & Family Reading Report™: 8th Edition. The guide aims to support families in making books part of every child's upbringing. Key findings include:
- 90% of parents agree books create opportunities for conversation
- 79% of parents with 0-5-year-olds use children's books for parenting
- 51% of preschoolers are read aloud to 5-7 days a week
- 80% of parents with 6-11-year-olds want resources to support reading
- 63% of parents with teens believe it's important for children to read books with relatable characters
The report also highlights the mental health benefits of frequent reading among children. This free resource is particularly relevant amid the current youth mental health crisis.
Scholastic (NASDAQ: SCHL) reported its Q4 and fiscal 2024 results. Q4 revenues decreased 10% to $474.9 million, with operating income down 49% to $47.2 million. Full-year revenues fell 7% to $1,589.7 million, with operating income at $14.5 million, down 86%. The company faced headwinds in school-based businesses and consumer spending.
Key highlights:
- Acquired 9 Story Media Group, enhancing content creation strategy
- Strong performance of Dog Man series globally
- Returned over $181 million to shareholders in fiscal 2024
- Targeting 4-6% revenue growth for fiscal 2025
- Adjusted EBITDA target of $140-150 million for fiscal 2025
The company remains focused on long-term growth opportunities in children's books, reading, and media markets.
Scholastic (NASDAQ: SCHL) has declared a quarterly cash dividend of $0.20 per share for the first quarter of fiscal 2025. This dividend applies to both Class A and Common Stock shareholders. The payment is scheduled for September 16, 2024, and will be distributed to all shareholders on record as of the close of business on August 30, 2024. This announcement demonstrates Scholastic's commitment to providing regular returns to its investors, maintaining its dividend program despite ongoing economic challenges in the publishing industry.
Scholastic has announced the release of 'Run Away With Me,' a young adult love story by acclaimed author Brian Selznick, set for publication on April 1, 2025. The novel marks Selznick's debut in young adult literature and will be available in hardcover, ebook, and audiobook formats across multiple regions, including the U.S., Canada, the U.K., Australia, and New Zealand. The story follows American teenager Danny and Italian teenager Angelo, who fall in love over a summer in Rome. The book features over a hundred pages of illustrations and twice as many pages of prose. David Levithan, Scholastic's VP and Editorial Director, highlights the novel's ability to capture the intensity and romance of first love. Selznick drew inspiration from his time in Rome during the pandemic, crafting a narrative that connects historical love stories with the present.
Scholastic (NASDAQ:SCHL) has announced the schedule for its fourth quarter and fiscal year 2024 earnings release. The earnings report will be published on Thursday, July 18, 2024, at 4:00 PM ET on Scholastic's investor relations website. A conference call to discuss the earnings will follow at 4:30 PM ET, hosted by CEO Peter Warwick and CFO Haji Glover. The call will be accessible via live webcast and phone. An archived version of the webcast and slides will be available shortly after the live event on the same website.
Scholastic, the leading publisher of children's books, has announced the release of 'The Cartoonists Club,' a graphic novel by bestselling authors Raina Telgemeier and Scott McCloud. Scheduled for publication on April 1, 2025, the book will be available in the U.S. and worldwide, with a first printing of 750,000 copies. The project brings together Telgemeier, known for her extensive fan base and bestselling titles, and McCloud, a key figure in the comics industry. The book aims to blend narrative and instructional elements, inspiring young readers to explore the art of cartooning. This collaboration was facilitated by Cassandra Pelham Fulton and David Saylor of Scholastic, in a deal with Judy Hansen of Hansen Literary Management.
Scholastic (NASDAQ: SCHL) has finalized its investment in 9 Story Media Group, a leading producer of children's content. The transaction, valued at CAD $250 million (approx. USD $182 million), was completed following approval from the Canadian Heritage Minister and satisfaction of customary conditions. This investment allows Scholastic to enhance its content creation and distribution capabilities, leveraging 9 Story's extensive library and production expertise. Scholastic plans to maintain its regular dividend and stock repurchase program, funding the deal through available cash and credit facilities. The collaboration is expected to drive long-term earnings growth and top-line improvements.
Scholastic announced the release of a new Dog Man book by Dav Pilkey on December 3, 2024. Titled 'Dog Man: Big Jim Begins,' it delves into the origin of Big Jim, a beloved character. The announcement follows the success of 'Dog Man: The Scarlet Shedder,' which topped bestseller lists. Additionally, DreamWorks Animation will release a Dog Man feature film in January 2025. Since its launch in 2016, over 60 million Dog Man books have been printed and translated into 47 languages, highlighting the series' global impact. The series emphasizes creativity, imagination, and positive messages.
Scholastic Education Solutions announced the pre-order of Our Stories Decodables, a collection of 24 culturally affirming decodable books for young readers, available for classrooms in September. The collection supports children in grades K-2, aiming to increase representation among young readers, particularly Black and Hispanic children. The series was designed to support young readers in developing essential reading skills grounded in the Science of Reading. The collection includes stories from various cultures and was written by authors representing diverse backgrounds, including first-time writers from Historically Black Colleges and Universities.
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