Disney Stock – Disney to close at least 60 retail stores in U.S. and Canada

Disney will shutter at least 20 percent of its Disney Stores in the United States and Canada by the end of 2021, as the company focuses more on its online shopping business.

At least 60 stores will close, Disney said. There are about 300 Disney Stores worldwide, and the company is also considering making changes to operations in Europe. Disney did not say how many employees will lose their jobs, or which locations are slated to close. Disney Parks stores, Disney Stores inside Target, and outlets will not be affected, CNBC reports.

Disney said it will make improvements to the ShopDisney website; while the brick-and-mortar stores tend to cater to children, the e-commerce business will soon have more adult clothing options, home goods, and collectibles.

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