Advertisement
Australia markets closed

  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     

  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     

  • AUD/USD

    0.6503
    +0.0003 (+0.04%)
     

  • OIL

    82.84
    +0.03 (+0.04%)
     

  • GOLD

    2,323.90
    -14.50 (-0.62%)
     

  • Bitcoin AUD

    98,936.22
    -3,514.97 (-3.43%)
     

  • CMC Crypto 200

    1,391.34
    -32.76 (-2.30%)
     

  • AUD/EUR

    0.6072
    +0.0002 (+0.03%)
     

  • AUD/NZD

    1.0948
    +0.0006 (+0.06%)
     

  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     

  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     

  • DAX

    18,088.70
    -48.95 (-0.27%)
     

  • Hang Seng

    17,293.33
    +92.06 (+0.54%)
     

  • NIKKEI 225

    37,714.53
    -745.55 (-1.94%)
     

Disney CEO Says The World Is 'Ready To Get Back To Some Magic'

Jayson Derrick
·2-min read

Walt Disney Co (NYSE: DIS) on Wednesday confirmed a phased reopening of its Florida-based properties.

The company will first reopen the Walt Disney World's Magic Kingdom and the Animal Kingdom on July 11, followed by Epcot and Hollywood Studios on July 15.

What To Know About The Reopening

Disney wants to make sure when it opens up in July it will be able to offer the "quintessential Disney experience," Disney CEO Bob Chapek said on CNBC. The company needs to be sure it will reopen in a "responsible way" to best ensure guests are able to enjoy lifelong memories.

Disney noted it will reopen with significant limitations on total guests but won't commit to any specific number because there is no set guideline from the government, Chapek said. Capacity will likely be based on the ability to adhere to six feet of separation guidelines.

ADVERTISEMENT

Disney continues to enjoy a high level of trust in its ability to safely operate and customers know they will act responsibly in the reopening process, the CEO said.

Why It's Important For Disney

Chapek said his thinking process on reopening parks is not based on profit, rather the ability to at least recoup variable costs of operating and partially offset some of the fixed costs. The latest round of reopening is consistent with this objective, while also trying to slowly and safely increase capacity.

The world is "ready to get back to some magic" and Disney can "certainly provide that magic," Chapek said.

Disney's stock traded around $121.57 per share at time of publication.

Related Links:

How Kevin Mayer 'Was Snubbed' At Disney And Has A Lot To Prove At TikTok

Reopening Of Disney Springs A 'Drop In The Bucket' For The Mouse, Analyst Says

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.