|Over a month ago|
Scholastic reports Q1 revenue $259.8M vs. $215.2M a year ago 16:0209/2309/23/21
|Over a quarter ago|
Scholastic appoints Peter Warwick as CEO » 06:0407/1907/19/21
The board Scholastic…
The board Scholastic announced that Peter Warwick has been named president and CEO of the company, effective August 1. Warwick, who has served as an independent director on the company's board since 2014, assumes the lead operating roles and responsibilities of the late Richard Robinson, Jr., who passed away in early June. In Warwick's new role as CEO, he will be responsible for Scholastic's business strategy and overseeing all business segments and corporate functions. The company also announced the immediate appointment of two new members to the company's board. Iole Lucchese, the executive VP, chief strategy officer of the company and president, Scholastic Entertainment, was elected to fill the board seat recently vacated by the passing of Dick Robinson, with the board also appointing Lucchese as the chair of the board. In her current executive positions, which she will continue to hold, Lucchese has worked in partnership with Dick Robinson to advance the company's strategic and creative initiatives across all operating units, including new product and program offerings, business transformation, and digital expansion, as well as overseeing the Company's digital content and marketing initiatives and its expanding media activities.
Scholastic CEO M. Richard Robinson, Jr. dies unexpectedly » 15:4906/0606/06/21
Scholastic announced that…
Scholastic announced that M. Richard Robinson, Jr. the company's Chairman and CEO passed away unexpectedly. Robinson, 84 years old, had been in excellent health and had been overseeing Scholastic's long-term strategic direction and day-to-day operations for the better part of five decades, the company said. James Barge, Scholastic's lead independent director, will work with Iole Lucchese, Executive Vice President, Chief Strategy Officer; Andrew Hedden, Executive Vice President, General Counsel and Secretary; and Kenneth Cleary, Chief Financial Officer to ensure that all day-to-day operations continue without interruption. The company's Class A shareholders and the company's board of directors will be meeting independently to determine the best course for the company's direction, including the appointment of an interim operating head.
Scholastic appoints Sankaran as CIO, Conklin as SVP of corporate operations » 11:1305/0405/04/21
Scholastic announced the…
Scholastic announced the appointment of two leaders for the company's technology and operational teams. Raghushri Sankaran serves as Senior Vice President and Chief Information Officer, leading Scholastic Technology Solutions, and Kevin Conklin as Senior Vice President of Corporate Operations. Sankaran and Conklin both join the Scholastic Management Executive Committee and report directly to Richard Robinson, Chairman and CEO of Scholastic. Their roles are responsible for the direction and implementation of the future vision of technology and operations for the company.
Scholastic reports Q3 adjusted EPS (14c), one estimate (75c) » 16:1003/1803/18/21
Reports Q3 revenue…
Reports Q3 revenue $277.5M, one estimate $279.9M. "Getting kids back into school is now a clear national priority and we are experiencing growth in spring fair bookings as more districts offer in-person learning. We are seeing expanded opportunities in all of Scholastic's channels for summer reading, helped by the urgency of parents and educators to accelerate the reading growth of their children. In addition, significant federal stimulus dollars will be supporting K-12 education," said CEO Richard Robinson. "These trends support our confidence in a strong recovery for our school-related businesses in our coming fiscal year. Although school book fairs revenues declined in the quarter, as expected, our trade, teaching resources and digital education businesses continue to perform extremely well. (...) We are excited about our spring frontlist of new trade titles including Dog Man: Mothering Heights, and we have just released The Power of Story 2021, a valuable resource for parents, teachers, librarians and booksellers seeking diverse books. Responding to new opportunities in the K-12 education market, in the quarter we announced the combination of two education businesses into a new Education Solutions group, with greater focus on digital learning and curriculum programs. This new strategic direction will allow for increased investment in education content, as well as greater market penetration and cross-selling opportunities across our portfolio of both print and digital curriculum and supplemental literacy products and book collections."
Fly Intel: After-Hours Movers » 18:3812/1712/17/20
DMTK, SCHL, AIR, SCS, FDX, BB, X
Check out this evening's…
Scholastic drops 13% to $23.40 after Q2 results miss estimates 17:1612/1712/17/20
Scholastic reports Q2 adjusted EPS $1.15, one estimate $1.38 » 16:0512/1712/17/20
Reports Q2 revenue…
Reports Q2 revenue $406.2M, one estimate $528M. "While Q2 book fairs' revenues were adversely impacted by COVID, all of Scholastic's other major businesses, in the U.S. and internationally, showed major improvements in operating income, year-over-year. These gains, along with a reduction in overhead expense, helped to lessen the impact of the lower fairs' revenues on Scholastic's profitability and cash position" said CEO Richard Robinson. "We continued to take major steps to reduce our operating costs, right-size our employee base, and match our inventory purchases to customer demand. If school operations stabilize and business conditions improve in the second half, as expected, the company's new lower cost structure should result in higher profit margins and increased cash flow. (...) With increased interest in our take-home reading packs, easy-to-use digital programs, including our new "digital-only" classroom magazines, virtual book fairs and ship-to-home options for clubs and fairs, we were able to help teachers and schools to overcome these obstacles, even as our own top line was significantly impacted by the absence of traditional school-based in-person book fairs, here and abroad".