Visant Reports 2.4% Decrease in 2013 FY Net Sales

The Scholastic segment reported Adjusted EBITDA of $74.6 million for the fiscal year ended December 28, 2013, an increase of $2.1 million, compared to $72.5 million for the fiscal year ended December 29, 2012. This increase was primarily due to lower overall costs, including lower selling expenses, material costs and pension expense, partially offset by lower sales volume in high school jewelry and announcement products.