Scholastic Corp Q3 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Brendan McCarthy - Sidoti - Analyst : Hey, good afternoon, everybody. Thanks for taking my questions. Just wanted to start off in the consolidated trade area, it looks like sales were up 7%. Solid growth there. Can you talk about the frontlist and backlist which contributed more to that growth?

Question: Brendan McCarthy - Sidoti - Analyst : Understood. Got it. And then looking quickly at gross margins, they were up nicely year-over-year. And how do you expect that trend to continue looking out the next couple fiscal quarters?

Question: Brendan McCarthy - Sidoti - Analyst : Got it. Thanks. That's helpful. Turning to the book clubs business -- another pretty large revenue decline there. But and can you offer some insight into the timing of the shrink to grow strategy there? Maybe over the next couple of quarters, when do you when do you expect the revenue variation to kind of normalize?

Question: Brendan McCarthy - Sidoti - Analyst : Got it, got it. Thanks, Peter. Maybe one more question for me. Just to get the 9 Story investment. I know you mentioned you're probably lower capital intensity business there looking out in the future, as well as certain tax advantages. But do you expect to see any integration costs or elevated costs from this investment over the next couple of quarters? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 21, 2024 / 8:30PM, SCHL.OQ - Q3 2024 Scholastic Corp Earnings Call

Question: Brendan McCarthy - Sidoti - Analyst : Understood, Haji and Peter, thank you very much for the answers. I appreciate it. That's all for me.