Slightly encouraging news for discounts from Mr. Iger

[raven69david]

At our parks and resorts, attendance has held up reasonably well and thus far this quarter, it is down only 1% versus last year at our domestic parks. However, bookings during the last month have fallen off considerably. Part of this change is likely a reflection of consumers taking a wait-and-see approach to the economy, or waiting to see if the market produces discounts.

Bookings at Walt Disney World during the upcoming two-week holiday period are down only 1%. At parks and resorts, our brand and the experiences we offer have never been stronger. But consumer confidence is the lowest we have seen in over three decades and even the best product out there is feeling the effect.

We are also tracking the economy’s impact on retail and while we have great in-demand merchandise in the marketplace, we believe consumer spending will be down. That could impact us possibly during the holiday season but almost certainly during calendar 2009.

http://seekingalpha.com/article/104...earnings-call-transcript?source=yahoo&page=-1