The global pandemic exacted a heavy toll on Disney theme parks, costing the Magic Kingdom an estimated $1 billion from the unit that last year accounted for more than one-third of the entertainment giant’s revenue
“We’re going to open up far below that just to have our training wheels on with processes and procedures,” Chapek told analysts in his first investor call since being named Disney CEO. “We’re going to approach that very very slowly.”
“While Disney has the advantaged assets to win in this new world, we fear that the uncertainty of the present situation creates significant and unrivaled earnings risk for the foreseeable future,” wrote analyst Michael Nathanson. Theme park attendance typically lags a recovery, as well, notes Nathanson, as families who’ve booked vacations ahead of a recession tend not to cancel. He also noted that the hits will be around for quarters to come, since Disney typically uses heavy ticket discounting and promotions to win guests back.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Disney earnings plummet more than 90% as coronavirus wipes out more than $1 billionWalt Disney Co. profit dove more than 90% in the second quarter, an example of the drastic effects on the company from the COVID-19 pandemic, which...
Leer más »
Disney theme parks take a $1-billion hit amid coronavirus closuresWalt Disney Co. reported earnings for the first time since its U.S. parks closed amid the coronavirus crisis.
Leer más »
Shanghai Disneyland To Reopen May 11, Disney Says, But Other Parks Remain In LimboUPDATED with more details: Disney CEO Bob Chapek said Tuesday during the company’s second-quarter earnings call that it plans to open its Shanghai Disneyland theme park on May 11. It was the …
Leer más »
Disney 'Exploring' Phased Reopening of Restaurants and Retail But Parks to Remain Closed for NowOther new procedures Disney is considering to roll out include 'increased cleaning and disinfection' of high-traffic areas and 'screening and prevention support' for guests
Leer más »
Which 'Twilight' Character, Hogwarts House, And Disney Princess Are You A Combo Of?This one will definitely confuse the sorting hat.
Leer más »