Scholastic learns lessons from COVID-19, restructures sales channels

Cons. Discr. - Durables 346 Coronavirus 430 Earnings 492 Quote Watch 262 U.S. 4634

Publisher Scholastic reported a 7.0% year over year drop in sales in the three months to Aug. 31. Sales were helped by “digital billings up by 15%” while it has used new distribution channels “like our take-home Grab and Go reading packs” for students. U.S. seaborne imports of books linked to Scholastic typically peak twice during the year, with total shipments in the three months to July 31 down by 18.9% year over year. Yet, there are signs of a stabilization in August with imports of general books up by 3.1% and kids’ books surging 85.7% higher. Similarly, imports linked to Bertelsmann...

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