SBD/15/Sponsorships Advertising Marketing

LABOR PROBLEMS DROP TOPPS STOCK TO ROCK BOTTOM

     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).
Return to top

Related Topics:

MLB, NHL

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug