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RAWLINGS' FIRST QUARTER EARNINGS GO FOUL
Published January 9, 1997
A drop in the sales of baseballs, baseball gloves and basketballs led to losses for MO-based Rawlings Sporting Goods in the first quarter ended November 30, according to the ST. LOUIS POST-DISPATCH. Sales dropped 20% from the year-earlier quarter, to $28.3M. The net loss was $58,000, with a $.01 loss per share. Rawlings said basketball sales were down due to promos with Pizza Hut and Wal-Mart, while baseball sales could not compete with the same period a year earlier, when Cal Ripken, Jr. memorial balls sold well. Rawlings CFO Paul Martin said a rebound "is expected" in the second or third quarter, as baseball sales look to improve with a new MLB labor deal (ST. LOUIS POST-DISPATCH, 1/9).