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Published December 24, 2008, 12:00 AM

American Greetings reports loss

American Greetings Corp. shares sank to their lowest price in 21 years Tuesday after the greeting card company reported that it swung to a loss in its third quarter due to hefty charges and lower sales in the tough economy.

PORTLAND, Ore. (AP) — American Greetings Corp. shares sank to their lowest price in 21 years Tuesday after the greeting card company reported that it swung to a loss in its third quarter due to hefty charges and lower sales in the tough economy.

American Greetings posted a 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, last year.

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