Breitbart Reports: The Walt Disney Company isn’t out of the woods yet in its effort to reverse its financial troubles, with a prominent firm downgrading the company’s stock this week citing continued troubles at Disney theme parks, once the company’s most reliable revenue-generating division.
Disney shares dropped more than 2 percent Tuesday following the downgrade by Raymond James analysts who wrote that Disney’s “parks are under pressure,” with a “questionable consumer outlook” as demand slows.
Households hammered by record-high consumer prices under the Kamala Harris and Joe Biden administration are cutting back on non-essential spending, like pricey vacations.
Disney confirmed this in its most recent quarterly earnings report in August, with executives specifically citing inflation when it said that its “Experiences” division — which includes theme parks, cruise ships, and other live entertainment offerings — will see a decline in income in the next few quarters.
Disney’s chief financial officer Hugh Johnston even said lower-income consumers are being hit hard in the current economy and as a result, are no longer visiting Disney parks like they used to. For the most recent quarter, Disney reported its Experiences operating income fell 6 percent.
Disney parks have long been a reliable cash cow thanks to middle and working class American families — many of whom save up for years to afford the expensive trip. But under the Biden-Harris administration, consumer prices have risen to record levels, forcing families to slash spending in order to pay for groceries, rent, and insurance.
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notwokeshows
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Oct 3, 2024
For the life of me, I cannot understand why Kathleen Kennedy has not been fired yet. Disney's nonstop, relentless Woke/LGBTQXYZ activism has absolutely destroyed one of the greatest media companies in history.