LONDON (Reuters) – Pearson said it had seen no let up in the pressures weighing on its North American business as retail partners turned increasingly cautious when ordering books, sending its shares down more than 6 percent.
In a full-year trading update, Pearson said sales in U.S. higher education course materials fell 3 percent on an underlying basis, in line with the lower end of its revised guidance range.
However, that disappointed some investors as the group had said in October that the pressures were easing.
For 2018 it forecast revenues from the U.S. higher education courseware business to be flat to down by a mid-single digit percent. Its shares fell 6.5 percent by 0905 GMT.
Hit by the shift to digital from paper textbooks, Pear…
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