American Greetings closes candle sale |
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Published
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Tue, 16 Jan 2007 23:25
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CLEVELAND (AFX) - Greeting card maker American Greetings Corp. said Tuesday it completed the previously announced sale of its candle product lines to Light House Candles LLC.The company, which did not disclose the term of the sale, said it expects to record a pretax loss in the range of $15 million to $17 million as a result.American Greetings also said it plans to focus more on its core business.The company's shares closed down 21 cents at $23.85 on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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