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Disney’s parks and resorts, an $11.5 billion annual business that is carefully watched as a barometer of consumer confidence, reported a 50 percent decline in income to $171 million. Revenue for the quarter declined just 12 percent, however, indicating that aggressive discounting is keeping the parks busy but hurting margins. Attendance at Disney World fell just 1 percent, while Disneyland posted a 2 percent increase.
Read more from The New York Times.
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