School Specialty income up 80%
School supplies marketer School Specialty (NasdaqNM:SCHS), whose catalogs include Childcraft, Sax Arts and Crafts, Frey Scientific, Brodhead Garrett, Teacher’s Video, and Sportime, posted an 80% rise in annual net income. For the fiscal year ended April 27, income was $21.8 million, compared with $12.1 million the previous year. Annual revenue increased 11%, to $767.4 million from $692.7 million the previous year.
But for its fiscal fourth quarter, the Greenville, WI-based cataloger posted a wider loss, which it attributed to costs stemming from its December acquisition of Premier Agendas. For the fourth quarter, the company lost $5.5 million, compared with a $4.7 million net loss the previous fourth quarter. Revenue increased 2%, to $133.6 million from $130.4 million.
School Specialty also announced that it has hired a search firm to find a chief executive officer. Chairman/CEO Dan Spalding died unexpectedly in March. Dave Vander Zanden is serving as interim CEO.
J. Jill announces 3-for-2 stock split Quincy, MA-based apparel cataloger/retailer J. Jill Group (Nasdaq: JILL) is offering a 3-for-2 split of its common stock. The split will be payable June 28 to shareholders of record on June 14.