Disney scores record profit in fiscal Q4
Posted
Disney's theme-parks division posted a particularly strong quarter, as profit margins that had shriveled during the global economic downturn rebounded sharply. Operating profit at Walt Disney Parks and Resorts surged 33 percent to $421 million on sales that were up 11 percent to $3.1 billion. Occupancy in the company's hotels slipped two percentage points. But per-room spending, which includes the nightly room rate, was up 9 percent.
Read more from The Orlando Sentinel.
Related parks
This is another one of those things that indicates completely the opposite of a recession. What a weird economic time we're in.
Jeff - Editor - CoasterBuzz.com - My Blog
Its time to 'Occupy Disney', they are obviously charging too much and causing undo hardship on the 99%. Shame on them for running a profitable business.
I blame welfare!
Hobbes: "What's the point of attaching a number to everything you do?"
Calvin: "If your numbers go up, it means you're having more fun."
This is another one of those things that indicates completely the opposite of a recession. What a weird economic time we're in.
I keep coming back to the idea that this is "the tale of two economies." The upper end of the socioeconomic ladder didn't feel the brunt of the '08 collapse, and is recovering much faster than the general economy. For example, there was a stat in an article from this morning's WSJ: unemployment for Americans between the ages of 20 and 24 is 8% for those with a four-year college degree, and 21% for those without.
Occupancy is down, spending is up.
This is largely because the domestic parks have cut back on their room discounting. But, overall *attendance* has recovered somewhat as well. From the 4Q release:
Higher operating income at our domestic parks and resorts was driven by increased guest spending and, to a lesser extent, attendance, partially offset by increased costs.
You must be logged in to post
