Imagine a bookseller that decided to sever all ties with Amazon.com. Crazy, right?
That's what Tulsa-based Educational Development Corp., which sells children's books through a variety of channels, did two years ago. The result? Its best sales month ever in October and a rise in earnings for its most recently completed quarter.
Educational Development reported those quarterly earnings Wednesday, and EDUC shares finished the week up more than 20 percent. The stock closed Friday at $3.78, just 22 cents from its 52-week high.
CEO Randall White recently said shutting down its Amazon.com channel boosted sales among its other outlets, which no longer get undercut on prices by the Internet sales giant.
Long-term shareholders (and White is the largest one) are hoping the book marketer has turned a new page.
Our beagle suffered through another choppy week of thin trading that produced a tiny dip in the price of a share of its stock.