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TRIP - Scholastic Corp.: An Overlooked Re-Opening Play
TripAdvisor Inc.
Scholastic Corp.'s management team has done a great job preserving its balance sheet, streamlining its cost structure ($100 million of savings), and controlling what it can.
Despite a breathtaking 79% decline in Q2 FY 2021 Book Fairs revenue, its largest segment, other segments and cost cuts led to only a 40% decline in Adj. EBITDA.
With many schools already back in the classroom, albeit in a hybrid structure, management was guardedly optimistic about hosting spring book fairs (March - May 2021).