Walt Disney profits suffer
The Walt Disney Company has announced a seven per cent fall in revenue to just US$8.6bn (£5bn, 6bn euro) on last year.
Parks and Resorts revenues for the third quarter decreased nine per cent to US$2.8bn (£1.65bn, 1.9bn euro) owing to a fall in guest spending on food, beverages and merchandise as well as decreased hotel occupancy at Walt Disney World Resort, Disney Vacation Club and Disneyland Paris.
"While a tough global economy impacted our performance in the quarter, we remain encouraged by the relative strength of our business," said president and CEO Robert Iger.
"That strength is the result of Disney's combination of strong brands, consistent business strategy and the steps we've taken to make our businesses more efficient without sacrificing quality."
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