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TOPPS STOCK TAKING A HARD HIT. IS NOW THE TIME TO BUY?
Published June 22, 1995
Last week Topps Co. announced that its sales dropped nearly 30% in the first quarter (ending May 27) due to the fallout from the MLB players strike. But, according to Miriam Leuchter of CRAIN'S NEW YORK BUSINESS, baseball isn't Topps' only problem. The stock "has been in the doldrums since the bottom fell out of the once-hot sports card market a few years ago." But analysts and investors "see a number of good reasons to collect stock in Topps." One is the "growing strength of the confectionery business," as sales of Bazooka gum, lollipops and taffey account for nearly 1/3 of their total sales. Another is the planned $50M purchase of Merlin Publishing, a "fast-growing, highly profitable" British company that has the 2nd largest collectible sticker and album business in Europe (CRAIN'S NEW YORK, 6/19 issue).