Dividend: Not So Warm American Greetings

American Greetings Hits 21-Year Lows, Doubling Number of Store Closings

American Greetings(AM Quote) just announced a third quarter loss of $193.3 million, or a loss of $4.25 per share, compared with a profit of $29 million, or 52 cents per share a year earlier.

Revenue slipped 6.5% to $454.1 million from $485.8 million. Management is raising the number of stores it plans to close to 60 or more -- from previous estimates of 25 to 30 stores. Management said the deal to sell the product licenses of Strawberry Shortcake and the Care Bears to Cookie Jar Entertainment of Toronto after the company was unable to find financing. The licenses have been back up for sale. ...