Scholastic CEO: Parents, Schools Spending Less on Children's Books -- Market Talk
Dow Jones
Mar 21
1148 ET - Inflation-weary parents are spending less in today's volatile market, including in discretionary categories like children's book purchases, Scholastic CEO Peter Warwick said on a call with analysts. The publisher's corporate clients are culling spending as well, he says, as "recent uncertainty around federal education policy and funding mechanisms is causing some schools and school districts to delay or pause purchases of instructional materials." These spending slowdowns are expected to continue throughout the current quarter, Warwick says. Shares rise 11% after Scholastic posts a narrowed loss and higher revenue in its fiscal 3Q. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 21, 2025 11:48 ET (15:48 GMT)
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