Children's book publisher Scholastic Corp. slashed its 2013 profit guidance and said revenue will be $1 billion lower than expected because schools are spending money on curriculum and holding back on orders, fearing federal spending cuts. Shares fell $6.34, or 20%, to $25.50 in light after-hours trading. The company also said sales are lower than expected for The Hunger Games trilogy as well as in its book club business. And Hurricane Sandy hurt business in its School Book Fair and School Book club businesses in the Northeast. Scholastic now expects to earn $1.40 to $1.60 per share for the year ending May 31, down from its prior forecast of $2.20 to $2.40 per share. It expects revenue of $1.8 billion to $1.9 billion, down from an earlier outlook for $1.9 billion to $2 billion. Scholastic cited two top reasons for the shortfall. One is that schools are spending money on training to get ready for Common Core, a set of uniform benchmarks for math and reading. That's leaving less money for spending that would go to its profitable educational technology products. Scholastic also said schools are delaying spending decisions "due to continued uncertainty regarding the federal budget." A series of automatic spending cuts and tax increases are set to take effect at the beginning of 2013 unless Congress and the White House can make a deal to avert them. Scholastic plans to announce fiscal second-quarter results in mid-December. Continue reading at 'Crains New York'
[ Crains New York | 2012-11-21 00:00:00 UTC ]
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Scholastic has acquired Learning Ovations, the creator of A2i (Assessment to Instruction)—a literacy screening, progress monitoring and assessment, and instructional planning system for classrooms and community organizations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-06 04:00:00 UTC ]
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Cookbook fans ‘heartbroken’ after John Clark’s derogatory outburst on social mediaThe cookbook author known as the Meal Prep King will no longer be published by Penguin Random House after he posted a misogynistic video on social media.John Clark, whose book The Meal Prep King Plan was a Sunday... Continue reading at The Guardian
[ The Guardian | 2022-08-16 17:55:17 UTC ]
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Newspaper publisher Gannett Co. confirmed Friday that it’s laying off some of its newsroom staff as part of a cost-cutting effort to lower its expenses as its revenue crumbles amid a downturn in ad sales and customer subscriptions Continue reading at ABC News
[ ABC News | 2022-08-12 21:45:49 UTC ]
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NFT advocates often tout the technology's ability to grant the creator a cut of second-hand sales as one of its major attributes. Artists can earn from one of their digital creations years after first selling it. Others are looking at NFTs to earn a buck from the secondary market too, including... Continue reading at Engadget
[ Engadget | 2022-08-03 20:10:20 UTC ]
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The largest children's book and educational publisher sees continued growth in its own school-based book fairs, and revenue-per-fair. The post Returning to In-Person Book Fairs Cited in Scholastic’s Q4 Report appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-07-22 00:30:36 UTC ]
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Elizabeth Whiting has been promoted to v-p of trade sales at Scholastic Trade Publishing, effective June 1, succeeding Alan Smagler, who will transition to a consulting role. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-24 04:00:00 UTC ]
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In today’s “why do we have to share a country with these jackasses” news, the board of the public library of Enid and Garfield County in Enid, Oklahoma, voted 3-2 to ban “book displays and library programs that focus on sexual content”—which resulted in the library cancelling not only an adult... Continue reading at Literrary Hub
[ Literrary Hub | 2022-04-20 17:26:39 UTC ]
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It’s been ten years since the release of Wild, Cheryl Strayed’s bracingly honest memoir about hiking the Pacific Crest Trail as a young adult after her mother’s death with no experience or training—and to ccelebrate the anniversary, Strayed has released a cut scene from Wild, free to read... Continue reading at Literrary Hub
[ Literrary Hub | 2022-03-21 19:22:02 UTC ]
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Revenue at Scholastic rose 24% for the third quarter ended February 28, 2022, over the prior year period, and the company cut the quarterly operating loss. While sales trends remain favorable, the company said that it is working on ways to control higher prices for paper, printing, and freight,... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-18 04:00:00 UTC ]
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ABC, home of freshman comedy 'Abbott Elementary,' has partnered with Scholastic to host free book fairs at seven Title 1 schools between March 14-18. Continue reading at Los Angeles Times
[ Los Angeles Times | 2022-03-11 21:00:48 UTC ]
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Amazon released a fantastic new Kindle Paperwhite in late 2021 and right now it’s available for $45 less than usual. The online retailer has cut the price of the 32GB Kindle Paperwhite Signature Edition to $145, which is down from $190. We reviewed the new Paperwhite in December and gave... Continue reading at PC World
[ PC World | 2022-02-07 15:11:41 UTC ]
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Scholastic’s Kate Newport is joining Hachette Children’s Group in the newly created role of publisher for non-fiction. Continue reading at The Bookseller
[ The Bookseller | 2022-01-09 18:55:54 UTC ]
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Scholastic has landed a new Tom Gates book by Liz Pichon which aims to get everyone drawing in the UK as part of a national campaign. Continue reading at The Bookseller
[ The Bookseller | 2021-12-13 08:19:08 UTC ]
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Scholastic UK has announced a global publishing deal with 9 Story Media Group and Karma’s World Entertainment for a new Netflix series. Continue reading at The Bookseller
[ The Bookseller | 2021-12-13 02:29:44 UTC ]
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He is a National Book Award finalist for “A Little Devil in America,” but he has more books to write, more projects to take on and more s’mores to research. Continue reading at The New York Times
[ The New York Times | 2021-11-14 22:29:28 UTC ]
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Benjamin Zephaniah is writing a “powerfully moving” picture book about the voyage of "HMT Empire Windrush" to be published by Scholastic UK in April 2022. Continue reading at The Bookseller
[ The Bookseller | 2021-10-23 10:30:14 UTC ]
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Scholastic UK has picked up a two more middle-grade titles from brother-sister duo Stephen and Anita Mangan. Continue reading at The Bookseller
[ The Bookseller | 2021-10-20 02:47:45 UTC ]
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Scholastic has swooped on Welcome to St Hell, a "groundbreaking" YA memoir about being a trans teen, written and illustrated by influencer and filmmaker Lewis Hancox. Continue reading at The Bookseller
[ The Bookseller | 2021-10-18 19:31:24 UTC ]
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The powerhouse children’s publisher, known for Harry Potter, had been passed from father to son until Iole Lucchese, a top executive, was given control. Continue reading at The New York Times
[ The New York Times | 2021-10-18 18:41:08 UTC ]
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In rather heartwarming news, bestselling novelist James Patterson is working with Scholastic Book Clubs to tackle literacy inequity. On Monday, Scholastic announced that Patterson had donated $1.5 million to help launch “The United States of Readers,” a classroom initiative created to address... Continue reading at Literrary Hub
[ Literrary Hub | 2021-09-28 17:26:56 UTC ]
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