Posted Wednesday, May 7, 2008 10:23 AM | Contributed by Jeff
Consumers, buffeted by rising costs for gasoline and groceries, have been finding ways to cut back on nonessential spending. But the Walt Disney Company said Tuesday that it saw no weakness in its theme park business, a unit that has come under scrutiny as an indicator of whether declining consumer confidence is seeping into more nooks and crannies of the economy.
Disney, reporting results for its fiscal second quarter, said that operating income in its parks and resorts division rose 33 percent on revenue of $2.7 billion. The Easter holiday, which fell early this year, delivered a significant lift. But even when the Easter bump was factored out, attendance at Disney’s theme parks was slightly higher, Thomas O. Staggs, the company’s chief financial officer, said in a conference call with analysts.
Read more from The New York Times.
Wednesday, May 7, 2008 10:52 AM
Unreal. The Disney machine just doesn't stop.
Wednesday, May 7, 2008 2:29 PM
I am actually thinking that due to the declining value of the dollar, there are going to be more foreign tourists coming to the US. I am betting that has a big influence on Disney parks, especially the Florida ones. That and the people who already had planned and saved for a Disney vacation would likely still go anyway despite the economic conditions.
Wednesday, May 7, 2008 3:17 PM
Must be that wonderful year of a gazillion nightmares or something. ;)
Thursday, May 8, 2008 1:10 AM
Naturally the spring break season drew big crowds to the parks but until just the last few days the huge crowds kept on coming for the entire month of April. They extended Magic Kingdom's hours a few times and added another Spectro a several times in the last month. Just two weeks ago the Magic Kingdom was nearly as crowded as it was Easter week. It has just been crazy.
Thursday, May 8, 2008 8:38 AM
I went to Universal this past weekend (Simpsons is Intense) and was struck by how many English and Germans there were on vacation in Orlando. You could not go five steps without hearing an accent.
Thursday, May 8, 2008 9:08 AM
That has been pretty typical in my visits the last couple of years.
Thursday, May 8, 2008 9:11 PM
strange thing is here in London at the same bus shed they have posters for Paris next to posters for Orlando, thats really got to muddle the marketing.
Friday, May 9, 2008 1:09 AM
a1967Tigers, I was thinking the exact same thing. Does Germany have some sort of break right now in terms of schools?
Friday, May 9, 2008 8:41 AM
I can attest to the crowds. I'm here right now, and it's been pretty mobbed. Strangely enough, some of the "classic" MK rides like Haunted Mansion, Pirates, Splash Mountain etc.. have had near walk on waits, while others have 40+ minutes and full stroller parking.