Jun. 23 at 12:11 PM
$SCHL Scholastic provides update on strategic, operational initiatives
Scholastic provides an update on key strategic and operational initiatives to enhance shareholder value. These actions accelerate Scholastic's ongoing efforts to achieve greater profitability and long-term growth and reinforce the Company's commitment to efficient capital allocation. Update on Strategic Initiatives: Scholastic completed an analysis of options to leverage its real estate assets in support of its capital allocation priorities, which include debt reduction and share repurchases.
In furtherance of that initiative, the Company has retained Newmark Group to identify investment partners for a potential sale-leaseback transaction of all or part of its owned office and retail real estate in New York City. It is also evaluating potential financial advisors with respect to a similar transaction involving its distribution centers in Jefferson City, Missouri.
Over the past month, Scholastic reorganized its Children's Book and Education Solutions businesses, appointing new leaders with clear mandates to refine strategies, strengthen the organizations and improve financial results in fiscal 2026 and beyond. The Company remains focused on pursuing significant long-term growth opportunities in each business segment, leveraging Scholastic's brand, content and distribution channels, while also continuing to optimize each business in the near term.
