We know everything about bankruptcy
24/04/2024
Wednesday
24 April 
1970 The Hubble Orbital Telescope was launched
1970 The Hubble Orbital Telescope was launched
1970 Namibia became a German colony
1970 Namibia became a German colony
1970 Sparkling water was patented in the United States
1970 Sparkling water was patented in the United States
DISNEY IS CLOSING 60 STORES IN NORTH AMERICA
The main factor that influenced this decision of the Disney management is the pandemic, say the experts. All retail outlets, which are now planned to be completely closed, were forced to close during a lockdown last year. In addition, the decline in Disney sales was affected by the decline in traffic to shopping centers, amusement parks and cinemas.
Revenue fell to $ 4.18 billion, and the business's net profit dropped by 91%.
According to Stephanie Young, the head of Disney's retail, publishing and gaming business, the company is doing this to respond to changing consumer preferences and behavioral standards. In recent years, the company has been increasing its presence in the retail market, since this is where buyers of various franchises of the corporation spent their free time. Now the challenge is to make it easier for customers to access the company's products through the development of the e-commerce market.
It is known that until recently, the company had about 200 retail outlets in North America alone. About 100 stores operate in Europe, Japan, China and other countries of the world. It is not yet known whether there will be a reduction in offline trade in European countries, although such a decision might be made. It was decided not to take any actions in relation to the stores in the markets of Asian countries, especially considering the fact that many of them also perform advertising functions there, and also work inside large shopping centers.
Shopping pavilions located inside theme parks and in stores of other retail chains (such as Target) will not be closed either.
In 2020, despite a 61% rise in Disney stock, the company turned out to be unprofitable for the first time in 40 years. Now the management of the corporation will have to take unpopular measures by cutting staff by 32 thousand people. The press office of the company announced plans to improve the operation of Disney Parks online applications and their fuller integration for online shopping. Among the product directions in the Disney business, it was also decided to focus on the production of branded goods for the adult population, including both collectibles and household goods that can interest new consumer segments.
