Disney Says Park Demand is Stable Despite Macro Pressures
Dow Jones
Aug 05
1148 ET - Disney says demand for its parks and cruises is remaining strong, despite higher gas prices and other macroeconomic pressures. Bookings are up for both Walt Disney World and Disney cruises, Chief Executive Josh D'Amaro tells analysts on a call. Management now expects growth in its experiences segment to be at the high end of its guidance range. However, consumer demand is weaker in Asia, and Disney's parks in Shanghai and Hong Kong are expected to have more challenging third and fourth quarters, D'Amaro says. Disney also has a park planned in Abu Dhabi, which D'Amaro says is being built with a long-term view despite current conflicts in the region.
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