season, reading another for the everyone. with fiscal XXXX solidly, and needs positioned to Thank work year's for well stories. We're families, you're began which for opportunity critical kids and Scholastic excited you, happy represents Jeff, literacy, address to educators good and back-to-school joining Scholastic afternoon, and us. the
growth in go-to-market structured value and took to execute and the coming over to in margins in invest leadership including the we is fiscal creation Solutions while reorganizations shareholder initiatives, as growth, development strategy steps and Book future continue Canadian and strategic capabilities key and in we U.S. for announcing Education drive we executing sustain XXXX.
Last blended growth on quarter, Scholastic product that changes. further growth, achieved ensure continued protect years, Clubs we We to impact in to integrated our our
last we and from these our and Fairs in spending quarter's ahead Clubs call, division. growth events, timing first expected As as and school previewed well reading a and on revenues loss seasonality of as quarter's Book changing onetime ago, expected grew the operating investments ongoing combined reflecting education year and of recently planned
for X% XXXX excluding and We second million of important contribution losses Scholastic the a affirming $X savings our records cost operating to results, of adjusted the with in activities. and the Based $XX and to million of $XXX third vacations quarter million reminder, X% and quarters. guidance fourth impact to As the X generate fiscal related onetime coincide of restructuring to we are EBITDA growth revenue $XXX million, charges Northern in on summer in the typically greatest Hemisphere. winter first quarters, and which school seasonally
more discuss last the Our our review outlook like returned our quarter In results confidence year. repurchases. then share $XX and first over demonstrated financial continued also results to our I'd of detail. to shareholders.
This total, quarter, in outlook is afternoon, our will our Ken the for by million in we rest
on like in some several begin to macro I've comments the we're which with on done calls, I'd As past environment operating.
choice. society policy and across including respond positioned needs. and increasing to our book families, these around educators and reading, learning country debate and Scholastic remain even leaders can to focus across to be First, top education agree on, everyone seeing that a as something continues for uniquely literacy we're our
families kids, years, we XXX on serving done than we've for As continue focus and more educators. will to
sellers. global Second, first retail sales backlist revert NPD and retail by titles to declined data, bookselling reductions continued softness strong our book I'll in as quarter. on in market have sales inventory of at Notably, to of books pre-pandemic levels in the Based year-over-year reflected BookScan moment. U.S. discuss been frontlist our children's and adult the during as X% in continues young a
short-term the fair Book despite books said, sales by we've year in As saw in trade strong, softness positive for Fairs. confidence channel, our demand we same bolstered remains last children's in overall the
costs Third, having begun pandemic, lapped have manufacturing, and rise costs, these especially the that we the during shipping paper freight saw freight, to steep in and manufacturing fall.
And and its provide inventory seasonally a flow quarter year.
With by market primarily by declined, of retail As will in I Ken bestsellers partly in of purchases high-level smallest flow our this. the the This channel. Children's will industry-wide in reflected benefiting consolidated Oseman, Begin! Heartstopper margins standout in first trade Aaron The free operating in Alice by XXXX this and This included our the Multiple best-selling In revenue Bad segment Official overview Blabey; quarter, and helped The Cookbook. successes results. Let as softness driven Potter Winter Book this offset through series; the cash just financial this later results quarter our author lower I'll Games discuss, is that, first the described. frontlist Guys Harry
highly Hunger edition and to of The sales The We Snakes, paperback Ballad November. ahead this release of that of Songbirds the series, new Suzanne Games strong the movie anticipated Collins' of also prequel of had
looking coproduced We're on TV has its and Goosebumps interactive a October was buzz, Potter Looking the on forward Disney The is Kid Dav and of Cat Almanac. lot new lineup developed the Prisoner supporting extensive of Pilkey's we also series marketing. Harry new the Azkaban Man launch a release have and Dog the and spring, edition titles new Harry Disney+ ahead and The including Heartstopper a with title; Club and in Hulu which Wizarding by to series, already Comic Harry of at Entertainment, strong Potter series, fall Scholastic XX. and with of the MinaLima Potter, and
best-selling and to which has readers the media only a Apple to TV+. book from on worldwide.
This of sold of world. series generation series virtuous success Stillwater and Entertainment and by the internationally, is and coproduced kids series global introduce around screen domestically our with bring heels By through XXX focus it to Emmy to platforms, the second new Scholastic another million whole Scholastic date Entertainment Scholastic and back beloved for to which of Award-winning this Harry expect cycle to the and we second copies and books, sold to over partner has ever, is page We million Scholastic Peabody brands XXX the is copies kids building and team, over whose Potter, property franchises developing into brands and the comes merchandising on can compelling projects, the studios intellectual both page. families Goosebumps that streaming titles will viable
the Scholastic out, school-based revenue year-over-year Clubs channels. not generate meaningful. during quarter schools Now turning are unique Fairs to and quarter so the Book our minimal first when distribution trend last is
with Over higher strong years, customer-centric in transformed have improvements, Book and which operational and and fair per contribution. Fairs the X strategies fair new past revenue count operating participation, growth we've resulted in higher
operational this about At core year, grow a time, Clubs begun For can our back is improvements we've year. smaller, more strategically which now remain plan to this same going Book continued implementing in to optimistic to Book customer-centric business in upon We and the profitable strategies these transition we Clubs. forward. Fairs school, growth Book
continued Solutions. to and build Turning the Education organization new learning Last executing investing focus under around to quarter, strategy to we blended capabilities our leadership.
programs, of prevailing are year-to-year for shifting we digital year-over-year summer quarter vision the seen First blended combine correlated year. X shift also seasonality This approaches typically reading which the related vary instructional not things: now the the over literacy and our of long-term the and reflected declines sales have and driven We've by revenues our of product the first, process related programs, in grow our like lower to ReadyXReading, and quarter are supplemental newly realigning school our state-sponsored in benefit expected. launched past clear this to print programs few strength mostly sales components. which as our is to X; increasingly quarters to the growing learning second, lines.
We which in instruction were a key business sales which literacy-focused timing of with in
is long-term opportunity protecting while on our of strategy profitable strength execute long-term and growth print the building Our to this businesses. content
quarter, appointed In recently is Beth Scholastic's especially our the last continue significant long-term addition and we proven to to to division, most growth President International this a new Solutions, led actions optimize Polcari through Education vision. of which of including in Beth operational operating improvements, capabilities, she have the oversaw organization pandemic took our Scholastic's as and to President advance to continuing build I'm who delighted as model. markets. leader, will
Scholastic leadership, development next and of including Literacy Education initiatives, enters magazines, led which Beth's market classroom and key all Scholastic's be of the Education its Beth business our Solutions and are chapter. invaluable will operational strong oversaw also today. the of Before as foundations focus businesses that, she education resources growth digital businesses, deep subscriptions our teaching of Pro. digital Solutions key knowledge
this a with took profitable publishing Canada operating done Turning further growth. as to U.S. in which the we Scholastic, we we and reorganization and our financially offers We're completed confident operational Book the such to in build last franchises segment, later will both beginning our drive Last long-term International significant as efficiencies with greater as Blabey's we've this Clubs global drive Aaron we grow strategically business. improve quarter, Guys Bad efficiencies line of opportunity scale for in actions year.
however, continued segment impacted and which global Softness Canada retail depress Australia, markets, book in our results. particularly major the market, to
soon month, on Ken has our As as President as responsibility we transitioning current division role Chief as International Cleary, will International of to full-time the successor last Financial his for the also become company and be for announced our a Officer. taken appoints CFO,
their begun identifying hiring years pandemic strategy.
This We to Scholastic the our of subsidiaries organization. full businesses. efficiencies for Ken is leadership successor his long-term nationally operations. deliver and to a and CFO navigated our International dramatically which Scholastic's for XX realize of as deep finance and Ken ideal partner of on the effective have International knowledge recognized domestic our retained service will the has of growth-oriented potential. that process has Scholastic confident team leadership over a President international increased a helping I'm opportunity Beth successfully with given highly firm, He's be in a Under great as Ken. search partner, an and Scholastic's to company's across CFO, his
to I now over call turn will So the Ken.