Disney parks take a $1 billion hit amid coronavirus closures
tens of thousands of parks and cruise workers , as well as employees at the company’s movie studio division.
Lightshed Partners analyst Rich Greenfield, a frequent critic of the company, described the coronavirus-driven downturn in stark terms in a blog post for clients. “Disney has gone from being on top of the world a la Lion King, to feeling like Eeyore stuck in the middle of a perfect storm with no end in sight,” Greenfield wrote.
When Disney might reopen its domestic parks is a matter of great speculation. An analyst for J.P. Morgan predicted the parks could open as soon as June 1, but an analyst for Swiss banking giant UBS projected an opening for Jan. 1. Both analysts cautioned that attendance would probably lag below previous numbers for months. Disney has declined to comment on a reopening date for parks in Anaheim and Orlando, Fla.
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