Earnings?

[Cricket2]

Aren't earnings supposed to come out this week?

 

[lugnut33]

Today as a matter of fact after the bell.

 

[Cricket2]

Opening or closing?

 

[Cricket2]

Forget it, I found it:

Event:
Financial Results for Fiscal Full Year and Q4 FY09 will be reported on Thursday, November 12, 2009 at approximately 4:01 p.m. EST / 1:01 p.m. PST.
The live Webcast will be starting at approximately 4:30 p.m. EST / 1:30 p.m. PST.

 

[dizfan]

From Marketwatch...
"Walt Disney Co. said its fourth fiscal-quarter profit rose 18% on improved results at cable network ESPN and syndication sales of "Grey's Anatomy" and "Desperate Housewives." The Burbank, Calif.-based entertainment conglomerate /quotes/comstock/13*!dis/quotes/nls/dis (DIS 30.20, +1.15, +3.96%) said it earned $895 million, or 47 cents a share, compared with a profit of $760 million, or 40 cents a share, in the prior year's fourth quarter. Excluding an item, the company said it would've earned 46 cents a share in the latest three months. Revenue rose 4% to $9.87 billion from $9.44 billion. Analysts polled by Thomson Reuters expected to see a profit of 41 cents a share on sales of $9.31 billion"

 

[Cricket2]

After hours trading is up over $1 (3%)

We should talk about the stock more often here. At least as often as we do about the chicken nugget count.

If anyone is listening to the broadcast, is that the soundtrack from Frog Prince?

 

[lugnut33]

Here's an important nugget:

NEW YORK (Dow Jones)--Tom Staggs, chief financial officer with The Walt Disney Co. (DIS), said Thursday that hotel bookings for 2010 at the company's theme parks division are down 5% compared with the year-ago period.

The decline reflects the continuing economic slump, but consumers are also booking vacations closer to their dates, Staggs noted on a conference call with analysts following the company's fiscal fourth-quarter release.

He said the company has used innovative promotions to buoy its financial performance throughout the downturn.

"We will continue to gauge the market and use promotions when we feel it's appropriate," said Staggs.

Fourth-quarter attendance at its parks division was up 3%, excluding an extra week of operations that affected comparisons to last year.

 

[mitros]

From WKMG Orlando: Disney reports revenue decline, Thursday, November 12, 2009:
The company said the the decreases are due in part to guests spending less money at the parks. Disney lured guests with discount ticket deals and lower hotel rates, but guests continued with the cost cutting once in the parks as well.
FINALLY! this is what I have been saying since earlier in the year. The bodies are there, in the parks and the resorts, but they are NOT, I say again NOT spending money. So, things are in fact busy at the parks, but no one is spending $$$$$

 

[Uncleromulus]

Well--not as MUCH $$$.
But it's not a catastrophic drop and as we see, more than offset by other Disney profits.

 

[tony67]

Well--not as MUCH $$$.
But it's not a catastrophic drop and as we see, more than offset by other Disney profits.

Also offset by reducing quality of what they are selling in the parks IMO.
Remove a scallop from the plate at Cookes of Dublin.
Remove the cornbread from the rib plate at flame tree.
Replace hamburger and hotdog rolls with a really cheap "healthy" roll.
Reduce the quality of meat at several locations..

And on and on and on.....

Could this also be backfiring and reducing what people are spending in the parks?

 

[Judy in Texas]

I think the decision to NOT have as much resort-specific merchandise is hurting them, also. Check out the camping thread for examples. People staying at Fort Wilderness are looking to buy tire covers, license plate frames, logos, etc for their campers/motor homes; but, Disney is no longer offering that sort of merchandise. I guess they figure if you have $$ to spend, you will find something to take home. I stayed at Fort Wilderness in September and ended up bringing the money I set aside for that sort of "stuff" home. I was also looking for a fleece jacket but that sort of merchandise wasn't going to be put out until later in September. Just because it isn't cold in Florida doesn't people won't buy jackets. I think they need to rethink their merchandising.

 

[DisDreaminMom]

Ditto PP. I was looking for things to spend money on in my two trips this year and was very disappointed by the offerings.

 

[mitros]

The merchandise selection has stunk for several years now. That's pretty much why no one is buying. We used to love to go to WDW and bring back clothing and gifts. It's all crapola now. Nothing exciting. nothing different. Wake up, Disney, we know you read disboards. If you want to make money bring back the real merchandise! Come on guys, remove your cranium from where the sun don't shine!

 

[Mouseaholic!!!]

My DH used to say.........all sidewalks lead to the gift shop!

I remember the days when I would visit resorts - just to checkout their gifts shops!!!

One year I was a guest at the Beach Club in early December when a cold snap rolled in. I happily went to the gift shop and got a fuzzy Beachclub sweatshirt for $38 <---I had a good excuse.

Funny thing....the following year, the sweatshirt was $68. Hummmm. I wonder how many they sold THAT winter?


Now they have expensive shirts and the printing comes off after the first washing. No thanks!

 

[Maistre Gracey]

Perhaps silly moves such as closing PI are coming home to roost.
It's not just the PI club's earnings that are missing, but I for one have cancelled entire trips because of this. That means many Disney restaurants, hotels, and the like are missing my dollars all because of PI closing.
Did the bean counters factor that in when opting to close the clubs??

MG

 

[lugnut33]

Perhaps silly moves such as closing PI are coming home to roost.
It's not just the PI club's earnings that are missing, but I for one have cancelled entire trips because of this. That means many Disney restaurants, hotels, and the like are missing my dollars all because of PI closing.
Did the bean counters factor that in when opting to close the clubs??

MG

Or did they factor in that DVCers and off-site guests probably will not be eating at the parks because it's so expensive? I can save a whole lot of money eating off-site. Plus I don't have to play the reservations game 180 days out.

 

[Uncleromulus]

What you guys are saying is all too true. But I can't see them changing anything in the short term. Theme Park revenue is down a bit--but COMPANY profits are up a good 18%.
So no big problem as they view it.

 

[mitros]

What you guys are saying is all too true. But I can't see them changing anything in the short term. Theme Park revenue is down a bit--but COMPANY profits are up a good 18%.
So no big problem as they view it.

I don't know, theme park numbers may be down as you say, but I don't see it. Everything at WDW seems to be normal, especially at the parks. Maybe they are not buying merchandise, ( perhaps THOSE numbers are down} but they are eating in the restaurants and spending time in the parks, and staying at the resorts. So............

 

[doconeill]

Or did they factor in that DVCers and off-site guests probably will not be eating at the parks because it's so expensive? I can save a whole lot of money eating off-site. Plus I don't have to play the reservations game 180 days out.

I have already discussed with the family that next time breakfast will be made/eaten in the villa from supplies we buy at Publix, and not at whatever breakfast CS is available. Daily breakfast at Mara at AKL really hurt...and we will seriously consider sandwiches, etc. for lunch and even dinner.