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Disney closing stores to under 300 in N.America
Reuters, 05.22.03, 7:21 PM ET
LOS ANGELES (Reuters) - Walt Disney Co. will close more than a fifth of its Disney-branded stores in North America as it prepares the money-losing chain for a possible sale, Disney Consumer Products Chairman Andy Mooney said Thursday.
The Burbank, California-based company will reduce the chain to "south" of 300 from the current total of 387 in North America, he told reporters.
Mooney said that Disney could close down the chain and had not started talks with any possible buyers, but he said the company expected to strike a deal.
The profitable European chain could be sold separately from the stores in the United States and Canada, he said.
Copyright 2003, Reuters News Service
Reuters, 05.22.03, 7:21 PM ET
LOS ANGELES (Reuters) - Walt Disney Co. will close more than a fifth of its Disney-branded stores in North America as it prepares the money-losing chain for a possible sale, Disney Consumer Products Chairman Andy Mooney said Thursday.
The Burbank, California-based company will reduce the chain to "south" of 300 from the current total of 387 in North America, he told reporters.
Mooney said that Disney could close down the chain and had not started talks with any possible buyers, but he said the company expected to strike a deal.
The profitable European chain could be sold separately from the stores in the United States and Canada, he said.
Copyright 2003, Reuters News Service
