Press Release: Scholastic Reports Fiscal 2015 Second Quarter Results
"Scholastic had a solid quarter of revenue growth with significant gains in our Club and Fair school distribution channels, reflecting the success of the new marketing strategies implemented by Clubs in the second half of last year, as well as in classroom books. With Clubs leading the way on a 33% revenue gain, Children's Book Publishing and Distribution saw 14% sales growth in the quarter. The growth in these channels shows that educators and families are continuing to emphasize independent reading as an important way to drive children's motivation, thinking skills, and testing results," commented Richard Robinson, Chairman, President and Chief Executive Officer. "Classroom magazines' print and online offerings also continued to perform well, bringing Common Core-connected non-fiction into the classroom. Despite lower sales of core educational technology products in the quarter in comparison to last year, we are encouraged by an improving pipeline that we believe will lead to increased purchases of reading and math intervention programs, which are effective in raising student achievement. In addition, we remain on track for the release of MATH 180® Course 2, which is concentrated on algebra readiness, in the fourth quarter of the fiscal year."
- Companies:
- Scholastic Inc.
- Places:
- Canada
- New York City