Disney 2009 Fiscal Year Reports

[Guzzi]

This is from the Orlando Sentinal:

"Business at the company’s theme parks in Orlando and elsewhere around the world remained soft during the fiscal fourth quarter, and executives at the world’s largest media company said economic conditions are still difficult despite signs that the protracted global recession is easing".

“While there are some signs of recovery, the environment remains challenging and we’re managing accordingly,” Disney Co. Chief Executive Officer Bob Iger said during a late-afternoon conference call

"Operating profit at Walt Disney Parks and Resorts fell 17 percent during the quarter to $344 million, on revenue that slid 4 percent to $2.8 billion. Park attendance improved, but ongoing discounts continued to eat into profit margins.

The results capped a difficult fiscal year in which Disney was squeezed hard by the recession. Disney said it netted $3.3 billion for the year, down 25 percent from last year, on sales of $36.1 billion, down 4 percent.

For the year, parks-and-resorts’ operating profit tumbled 25 percent, dropping from $1.9 billion to $1.4 billion. Sales fell 7 percent to $10.7 billion"

What will this mean for the upcomming year? Will Disney continue to agressively market/discount stays at the world to keep attendence numbers up? What do all you disr's think

 

[disneyfan55]

This is from the Orlando Sentinal:

"Business at the company’s theme parks in Orlando and elsewhere around the world remained soft during the fiscal fourth quarter, and executives at the world’s largest media company said economic conditions are still difficult despite signs that the protracted global recession is easing".

“While there are some signs of recovery, the environment remains challenging and we’re managing accordingly,” Disney Co. Chief Executive Officer Bob Iger said during a late-afternoon conference call

"Operating profit at Walt Disney Parks and Resorts fell 17 percent during the quarter to $344 million, on revenue that slid 4 percent to $2.8 billion. Park attendance improved, but ongoing discounts continued to eat into profit margins.

The results capped a difficult fiscal year in which Disney was squeezed hard by the recession. Disney said it netted $3.3 billion for the year, down 25 percent from last year, on sales of $36.1 billion, down 4 percent.

For the year, parks-and-resorts’ operating profit tumbled 25 percent, dropping from $1.9 billion to $1.4 billion. Sales fell 7 percent to $10.7 billion"

What will this mean for the upcomming year? Will Disney continue to agressively market/discount stays at the world to keep attendence numbers up? What do all you disr's think

I would think keeping those parks filled is very important and they most likely won't be quite as filled without all the discounts. They are still making money just not quite so much. Disney made some changes yesterday. I didn't hear the entire segment on CMBC but it I think the CFO has to do the the park business segment now.

 

[amccu18007]

I would think that they would "soften" the deals soon. Since the parks are still filled, they should be able to ease into lesser deals to get there profit margins up.

 

[wilderness gal]

Let's hope so, I read that on their corporate page on Thursday afternoon, expecting discounts to come out the next day but nope...

Disney will eventually have to come out w/new discounts for next year to continue making a profit so.....here's to waiting for those discounts for May -June 2010.

we are just one of those families that keep getting their e-mails but no PINS or CODES......we paid off the Disney Visa & closed that account off due to high interest rates & so forth, so no discount there, but here's to the PIXIE DUST for more discounts just around the corner......

 

[disneyfan55]

I would think that they would "soften" the deals soon. Since the parks are still filled, they should be able to ease into lesser deals to get there profit margins up.

They already do have lesser deals than last year. The 4/7 doesn't have the $200 giftcard is not available for the Values, only a 5/7! And you have to purchase the 4 day (AP or other ticket holders have to buy something they don't need.)

 

[TheRatPack]

People are going to be used to those deals though and many won't go without them....we've been able to go every year during free dining because it saves our family so much on food that we justify the price of the hotel room. Before free dining we stayed off site and only went to Disney 1 or 2 days during our stay, spending more time at Universal and other off site parks.

A lot of people also find a way to go when those deals come out....when they wouldn't have otherwise went.