Scholastic Corporation SCHL
NASDAQ · United States · Consumer Services
$35.85+0.69 (+1.96%)
Market closed· · USD · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
Market closed· · USD · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
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Shares of educational publishing and media company Scholastic (NASDAQ:SCHL) jumped 4.4% in the afternoon session after it announced a definitive agreement to acquire Cottage Door Press for about $71 million. According to the company’s PR Newswire release, the purchase price is subject to customary adjustments and expands Scholastic’s position in the early childhood book market. Cottage Door is an independent children’s publisher focused on early childhood and novelty formats; Scholastic said the
― Scholastic Corporation (NASDAQ:SCHL), the global children's publishing, education and media company, today announced that it has signed a definitive agreement to acquire Cottage Door Press ("Cottage Door"), a leading independent children's publisher of innovative early childhood books, for approximately $71 million, subject to customary purchase price adjustments.
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Scholastic’s third quarter results fell short of Wall Street’s expectations, prompting a negative market reaction. Management attributed the underperformance to the seasonality of its business, with schools out of session and sales particularly light in its Children’s Books and Education divisions. CEO Peter Warwick emphasized that this period typically contributes a small portion of annual revenue, while noting that the quarter also reflected the full impact of sale-leaseback transactions compl
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