Reds Upgrading GABP Ahead Of All-Star Game Red Sox Spend Big With Ramirez, Sandoval Wayne Gretzky Returns To IMG Flames Close To Arena Announcement? 2014 Reader Survey: MLB 2014 Reader Survey: NHL Rockies Brass Conducts Twitter Q&A With Fans Sources: Manfred To Merge MLB's Business Kings Get Salary-Cap Relief For Voynov MLB Fires Back Against MASN In Court Battle
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).