Shares of School Specialty (SCHS -17.1%) nosedive after the firm lowers its estimate for 2012...

|About: School Specialty, Inc. (SCHS-OLD)|By:, SA News Editor

Shares of School Specialty (SCHS -17.1%) nosedive after the firm lowers its estimate for 2012 revenue to $730M-$740M, from prior guidance of $755M-$780M. CEO David Vander Zanden blames a 3% YTD revenue decline on unit pricing pressure and reductions in funding for student agendas.