GLENDALE, Calif. (MARCH 3, 2021) – Today Disney announced plans to focus on its ecommerce business and significantly reduce its brick-and-mortar footprint, beginning with the closure of at least 60 stores in North America this year.
Over the next year Disney will focus on providing a more seamless, personalized and franchise-focused ecommerce experience through its shopDisney platform which will be complemented by greater integration with Disney Parks apps and social media platforms. This will be coupled with an assortment of new and elevated merchandise from the Company’s full range of brands, including adult apparel collections and artist collaborations, trend-forward streetwear, premium home products and collectibles.
“While consumer behavior has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer,” said Stephanie Young, president, Consumer Products Games and Publishing. “Over the past few years, we’ve been focused on meeting consumers where they are already spending their time, such as the expansion of Disney store shop-in-shops around the world. We now plan to create a more flexible, interconnected ecommerce experience that gives consumers easy access to unique, high-quality products across all our franchises.”
Disney will remain flexible in its approach and continue to evolve its retail strategy to best meet the needs of consumers when and where they want. Guests will continue to have access to Disney shopping experiences in 600+ Disney Parks stores, shop-in-shops, lifestyle and outlet locations, as well as third party retailers around the world.
About Disney Parks, Experiences and Products
Disney Parks, Experiences and Products brings the magic of The Walt Disney Company’s powerful brands and franchises — including Disney, Pixar, Marvel, Star Wars, ESPN, Twentieth Century Studios and National Geographic — into the daily lives of families and fans around the world to create magical memories that last a lifetime.
When Walt Disney opened Disneyland in Anaheim, California, on July 17, 1955, he created a unique destination built around storytelling and immersive experiences, ushering in a new era of family entertainment. More than 60 years later, Disney has grown into one of the world’s leading providers of family travel and leisure experiences, with iconic businesses including six resort destinations with 12 theme parks and 53 resorts in the United States, Europe and Asia; a top-rated cruise line with four ships and plans for three more to be completed in 2022, 2024 and 2025; a luxurious family beach resort in Hawaii; a popular vacation ownership program; and two award-winning guided tour adventure businesses. Disney Imagineers are the creative force behind Disney theme parks, resort hotels and cruise ships globally.
Disney Consumer Products, Games and Publishing includes the world’s leading licensing business; one of the largest children’s publishing brands globally; one of the largest licensors of games across platforms worldwide; and consumer products at retail around the world.
Cautionary Note on Forward Looking Statements
Certain statements in this communication may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include expectations regarding future execution of business plans or strategies for the Company’s retail business and other statements that are not historical in nature. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements.
Actual events may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, as well as from developments beyond the Company’s control, including changes in competitive conditions; consumer preferences; international, political, regulatory, health concern and military developments; and changes in domestic and global economic conditions that may affect our businesses generally. Additional factors are set forth in the Company’s Annual Report on Form 10-K for the year ended October 3, 2020 under Item 1A, “Risk Factors”, Item 7, “Management’s Discussion and Analysis,” Item 1, “Business,” and in subsequent reports.