<ARTICLE> 5 <LEGEND> </LEGEND> <RESTATED> <CIK> 0000866729 <NAME> Scholastic Corporation <MULTIPLIER> 1,000 <CURRENCY> USD <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAY-31-1997 <PERIOD-START> JUN-01-1996 <PERIOD-END> NOV-30-1996 <EXCHANGE-RATE> 1 <CASH> 2,212 <SECURITIES> 0 <RECEIVABLES> 199,349 <ALLOWANCES> 14,442 <INVENTORY> 239,219 <CURRENT-ASSETS> 467,239 <PP&E> 159,560 <DEPRECIATION> 37,449 <TOTAL-ASSETS> 811,293 <CURRENT-LIABILITIES> 213,428 <BONDS> 110,000 <PREFERRED-MANDATORY> 165 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 322,367 <TOTAL-LIABILITY-AND-EQUITY> 811,293 <SALES> 500,763 <TOTAL-REVENUES> 500,763 <CGS> 259,534 <TOTAL-COSTS> 446,778 <OTHER-EXPENSES> 7,613 <LOSS-PROVISION> 5,228 <INTEREST-EXPENSE> 7,582 <INCOME-PRETAX> 38,790 <INCOME-TAX> 14,311 <INCOME-CONTINUING> 24,479 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 24,479 <EPS-PRIMARY> 1.54 <EPS-DILUTED> 1.48