|Market Cap||$358.6 million|
|Average Daily Volume||103,000|
|Company Web Site||www.topps.com|
|*Based on 2003 Source: Value Line, Company Reports, TSC Research|
The trading-card business has changed, and Topps -- like so many other companies faced with outside challenges -- was slow to respond. There are no more wax packs and certainly no more bubble gum in trading cards. The quality of offerings from groups like Upper Deck has also created intense competitive pressure. Plus, the competition for rights of certain athletes has become big business, likely putting pressure on margins in coming seasons. Topps found a real savior several years ago when it began producing Pokemon cards. However, fads fade and so do their sales. Although Topps had $180 million in Pokemon sales in 2000, that number dropped to $24 million in 2001 and a paltry $6 million last year.