Manfred: No Suspensions For Pace Violations Wolff: No Interest In "Coliseum City" Concept Training Home Of Mariners, Padres Gets Upgrades Bumgarner Tops All MLB Merch Sales Cubs' Ownership Sales Support Wrigley Renovations Big Papi Slams New Batter's Box Rule Bettman Hits On Range Of Topics Seattle Mayor Ready To Fast-Track Arena Padres Ownership Excited Fans Are Re-Energized Liberty Media Has No Plans Of Selling Braves
Upcoming Conferences and Events
SBD/15/Sponsorships Advertising Marketing
LABOR PROBLEMS DROP TOPPS STOCK TO ROCK BOTTOM
Published December 15, 1994
Sportscard maker Topps Inc., "plagued" by labor problems in hockey and baseball, saw its stock plummet Wednesday after announcing it would stop dividend payments because of poor third- quarter earnings. Shares fell almost 24%, from $5.75 a share to $4.37 1/2 on the NASDAQ market. Topps' net income for the quarter ending November 26 fell 68%. Sales fell 8%, from $57.8M to $52.9M. The company blamed the decision to stop paying dividends on the NHL and MLB labor troubles (Michael Hiestand, USA TODAY, 12/15).