It sounds, and looks, like things are going well for the Disney Company!
Disney had a great 1st Quarter, with strong performance from Parks, Products, and Experiences.
- Revenues: Up 8%
- Income: Up 9%
With the hot sales merchandise of Frozen II, Toy Story 4 and Star Wars, Disney saw an increase in revenues for those products which helped offset the lesser sales of the Mickey and Minnie merchandise. (Maybe the Mickey and Minnie merchandise will increase once their upcoming Mickey and Minnie’s Runaway Railway! is introduced!)
Walt Disney World and Disneyland had a good quarter, although profits did not grow as quickly as revenue, and attendance was up only slightly:
- Revenue: Up 10%
- Income: Up 6%
- Attendance: Up 2%
- Hotel occupancy: 92%.
Increased guest spending was mostly due to pricing increases in park tickets, food, beverages, and merchandise.
The balance of business finds Disney increasing wages for union employees, adding improvements like Star Wars: Galaxy’s edge, the EPCOT makeover, new attractions, food and transportation that improve the Magic and give us so much more to see and enjoy!
Do you own shares of Disney stock? Wish you did?