Scholastic Shares Up on Plans for Potential Sale-Leaseback Deal

Dow Jones

Jun 23

By Natalie Weger

Shares of Scholastic advanced after company said it is considering a sale-leaseback transaction involving some of its real estate assets as part of its efforts to boost shareholder value.

The stock rose 9.5% to $20.94 in trading on Monday. Shares have dropped 40% in the past 52 weeks.

Newmark Group is working to identify investment partners for a possible sale-leaseback deal for some of the company's New York City real estate assets, and for a similar transaction involving its Jefferson City, Mo. distribution centers, Scholastic said.

The children's publishing company said it expects its adjusted earnings before interest, taxes, depreciation and amortization to be in line with its original guidance of $140 million to $150 million, and above its subsequently narrowed outlook.

Scholastic is also working with Korn Ferry to identify two new directors for its board. David Young and John Davis plan to retire at the annual stockholders meeting on Sept. 17, according to a filing with the Securities and Exchange Commission.

Young has been a director since 2015 and Davis has been a director since 2000. Both of their departures are not because of any disagreements between them and the company, the filing said.

Write to Natalie Weger at natalie.weger@wsj.com

(END) Dow Jones Newswires

June 23, 2025 11:54 ET (15:54 GMT)

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