Wiley Provides Business Update for COVID-19
John Wiley & Sons, Inc. (JW.A)
Last john wiley & sons, inc. earnings: 3/4 08:00 am
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Source: Business Wire
HOBOKEN, N.J.--(BUSINESS WIRE)--John Wiley & Sons, Inc. (NYSE:JWA)(NYSE:JWB), a global leader in research and education, is providing an update regarding business impacts of the COVID-19 pandemic.Update to Fiscal 2020 OutlookSubsequent to Wiley’s reporting of third quarter 2020 results on March 4, the global economy has experienced a sudden and unprecedented downturn due to the COVID-19 pandemic. Wiley’s financial position is fundamentally strong and the Company will continue to benefit from its leadership positions in research and education. However, the global isolation measures aimed at halting the COVID-19 spread will have a significant adverse impact on fourth quarter results, including the following:Declines in print book sales due to indefinite closings of retail bookstores,Declines in businesses that rely on in-person engagement, primarily test prep and corporate training,Delays in closing annual journal subscription agreements in certain parts of Europe and Asia due to ch
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