( Reuters) – Walt Disney Co ( DIS.N) estimated on Tuesday that international measures to contain the coronavirus pandemic cut profits by $1.4 billion, mostly from its shuttered amusement park, but stated it would reopen Shanghai Disneyland to a reduced variety of visitors next week.
FILE IMAGE: The sign of Walt Disney Studios Park is seen at the entryway of Disneyland Paris, in Marne-la-Vallee, near Paris, France, March 9,2020 REUTERS/Benoit Tessier
It is uncertain when Disney’s other parks in Asia, the United States and France would again invite visitors, executives said, or when the company’s range of idled organisations consisting of retail stores and cruise ships would return.
Disney stated it will not pay a dividend for the first half of the fiscal year, which will maintain $1.6 billion in money presuming it had actually kept the dividend constant at 88 cents per share.
Bob Chapek, who became Disney’s chief executive in February simply as the unique coronavirus was spreading around the world, said Disney would reopen the Shanghai park on May11
The Chinese federal government has asked Disney to top participation at 30%of capacity, or approximately 24,000 people, Chapek said. Disney will restart operations with “far below” that number for a few weeks while it adapts to new safeguards including social distancing, masks and temperature screenings, he stated.
” While it’s prematurely to predict when we’ll have the ability to begin resuming all of