AppNewser Appdata 10,000 Words FishbowlNY FishbowlDC TVNewser TVSpy LostRemote AgencySpy PRNewser MediaJobsDaily UnBeige SocialTimes

Scholastic Reduces Earnings Estimates

Scholastic reduced its earnings estimates for the fiscal year, predicting the company will earn approximately $1.8 to $1.9 billion (compared to earlier estimates of $1.9 to $2 billion). Before trading opened for the day, the company stock had fallen 19 percent.

The technology and services segment sales took a hit this year, and the company blamed Common Core State Standards training costs and the uncertain federal budget as factors that reduced earnings. Here’s more from the release:

The Company’s outlook for its Children’s Book Publishing and Distribution segment was also revised to reflect lower sales in its Book Club business generally, lower than anticipated U.S. sales of The Hunger Games trilogy, and the impact of Superstorm Sandy on the School Book Fair and School Book Club businesses in the Northeast. In line with its previously communicated plan, the Company is investing in its digital initiatives at a higher level than in the prior fiscal year. (Via Sarah Weinman)

Sponsored Post

Lauren Berger Writes New Book for Young People Entering "Real World"

Lauren Berger Welcome to the Real WorldCareer Expert, Lauren Berger, releases her second book, Welcome to the Real World: Finding Your Place, Perfecting Your Work, and Turning Your Job Into Your Dream Career (Harper Business), on April 22nd. In this book, Berger shares everything she wishes someone told her after graduation. Her book is the essential guide to anyone starting their first, second, or third job. She encourages readers to be fearless, step outside of their comfort zones, and go after what they want.