Exp.626Stitch
Mouseketeer
- Joined
- Jul 7, 2004
- Messages
- 254
News just came up at 9:00am this morning, the Chiuldren's Place is selling 2/3 of the Disney Stores back to Disney World. As a Cast Mmeber at the Disney Stores I am hoping this is a positive thing. Here's an article from NJ.com
Children's Place to dump Disney Store chain Thursday, March 20, 2008 BY JOAN VERDONSTAFF WRITER
Secaucus-based The Childrens Place Retail Stores, Inc. has decided to get a divorce from The Walt Disney Company and dump the Disney Store chain it acquired four years ago in a much-hailed deal.
The Childrens Place said Thursday it is in discussions to give the 335-store Disney retail chain back to its parent company. The company said it is in advanced negotiations that would allow Disney to regain control of two-thirds of the stores.
The announcement came as The Childrens Place announced a fourth-quarter loss of $58.5 million, and a net loss for the full year of $59.6 million. The company also said it will eliminate 80 positions after shedding the Disney chain, and will not fill 50 open positions, for a combined workforce reduction of 30 percent.
The Childrens Place and Disney Store marriage has been rocky from the start. The Childrens Place acquired the money-losing Disney retail operation for no money down, promising to invest $50 to $100 million in upgrading the Disney stores.
The two companies immediately began squabbling about The Childrens Places plans for the Disney stores, and The Chidrens Place found they didnt have any more luck than Disney in boosting sales at the stores.
Children's Place executives will speak to investors in a conference call at 10 a.m. today.
Secaucus-based The Childrens Place Retail Stores, Inc. has decided to get a divorce from The Walt Disney Company and dump the Disney Store chain it acquired four years ago in a much-hailed deal.
The Childrens Place said Thursday it is in discussions to give the 335-store Disney retail chain back to its parent company. The company said it is in advanced negotiations that would allow Disney to regain control of two-thirds of the stores.
The announcement came as The Childrens Place announced a fourth-quarter loss of $58.5 million, and a net loss for the full year of $59.6 million. The company also said it will eliminate 80 positions after shedding the Disney chain, and will not fill 50 open positions, for a combined workforce reduction of 30 percent.
The Childrens Place and Disney Store marriage has been rocky from the start. The Childrens Place acquired the money-losing Disney retail operation for no money down, promising to invest $50 to $100 million in upgrading the Disney stores.
The two companies immediately began squabbling about The Childrens Places plans for the Disney stores, and The Chidrens Place found they didnt have any more luck than Disney in boosting sales at the stores.
Children's Place executives will speak to investors in a conference call at 10 a.m. today.
Children's Place to dump Disney Store chain Thursday, March 20, 2008 BY JOAN VERDONSTAFF WRITER
Secaucus-based The Childrens Place Retail Stores, Inc. has decided to get a divorce from The Walt Disney Company and dump the Disney Store chain it acquired four years ago in a much-hailed deal.
The Childrens Place said Thursday it is in discussions to give the 335-store Disney retail chain back to its parent company. The company said it is in advanced negotiations that would allow Disney to regain control of two-thirds of the stores.
The announcement came as The Childrens Place announced a fourth-quarter loss of $58.5 million, and a net loss for the full year of $59.6 million. The company also said it will eliminate 80 positions after shedding the Disney chain, and will not fill 50 open positions, for a combined workforce reduction of 30 percent.
The Childrens Place and Disney Store marriage has been rocky from the start. The Childrens Place acquired the money-losing Disney retail operation for no money down, promising to invest $50 to $100 million in upgrading the Disney stores.
The two companies immediately began squabbling about The Childrens Places plans for the Disney stores, and The Chidrens Place found they didnt have any more luck than Disney in boosting sales at the stores.
Children's Place executives will speak to investors in a conference call at 10 a.m. today.
Secaucus-based The Childrens Place Retail Stores, Inc. has decided to get a divorce from The Walt Disney Company and dump the Disney Store chain it acquired four years ago in a much-hailed deal.
The Childrens Place said Thursday it is in discussions to give the 335-store Disney retail chain back to its parent company. The company said it is in advanced negotiations that would allow Disney to regain control of two-thirds of the stores.
The announcement came as The Childrens Place announced a fourth-quarter loss of $58.5 million, and a net loss for the full year of $59.6 million. The company also said it will eliminate 80 positions after shedding the Disney chain, and will not fill 50 open positions, for a combined workforce reduction of 30 percent.
The Childrens Place and Disney Store marriage has been rocky from the start. The Childrens Place acquired the money-losing Disney retail operation for no money down, promising to invest $50 to $100 million in upgrading the Disney stores.
The two companies immediately began squabbling about The Childrens Places plans for the Disney stores, and The Chidrens Place found they didnt have any more luck than Disney in boosting sales at the stores.
Children's Place executives will speak to investors in a conference call at 10 a.m. today.
