«Walt Disney Co» will Close Six Dozen Stores in North America
OREANDA-NEWS. «Walt Disney Co» announced, that will close at least 60 retail stores in North America in 2021. This was reported by the press service of the company. Each of the Disney stores being closed because of lockdowns, a company spokesperson said in interview with «Dow Jones» agency.
The company decided to focus on e-commerce and reduce the number of traditional offline stores. In total, the Disney retail network includes about 300 stores around the world. The Disney Store features exclusive product lines, that support and promote major entertainment programs and characters. While Disney's parks were suspended due to the pandemic, sales of themed products in the company's stores also declined. Over the next year, Disney will work on improving the e-commerce platform and intends to better integrate online shopping into Disney Park's mobile apps and social networks.
In addition, the company plans to expand it's product line, placing a greater emphasis on products, that can attract adults, including clothing, home goods and collectibles. Disney shares have risen 61% over the past year.
Earlier in February, it became known, that «Walt Disney» decided to close the «Blue Sky Studios» with a 34-year history. At this studio, «Ice Age», «Rio» and other famous cartoons were created. The company explained this decision by saying, that the pandemic has changed economic realities.