Scholastic's $97M Loss: Schools Cut Spending, Stock Plummets
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Scholastic's $97 Million Loss: Is This the Final Chapter? The children's book giant is reeling from school budget cuts, reporting bigger-than-expected losses and a 5% revenue drop. Now, Scholastic is scrambling, eyeing sale-leaseback deals for its NYC and Missouri properties to free up cash. With the stock plummeting 12% after a strong start to the year, can Scholastic rewrite its story, or is this just the beginning of a downturn? Hosted on Acast. See acast.com/privacy for more information.
