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Walt Disney Company (DIS)
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DIS » Topics » Disney Store Acquisition

This excerpt taken from the DIS 10-Q filed Jul 30, 2008.

Disney Store Acquisition

On April 30, 2008, the Company acquired the Disney Stores in North America from subsidiaries of The Children’s Place Retail Stores, Inc. (TCP) for cash consideration totaling approximately $64 million and terminated TCP’s long-term licensing arrangement relating to the Disney Stores. The Company acquired the inventory, leasehold improvements, and certain fixed assets of, and assumed the leases on, approximately 225 stores that it intends to operate. The Company conducted the wind-down and closure of an additional 89 stores but did not assume the leases on these stores.

 

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF

FINANCIAL CONDITION AND RESULTS OF OPERATIONS — (continued)

 

This excerpt taken from the DIS 10-Q filed May 6, 2008.

Disney Store Acquisition

As a result of the acquisition of the Disney Stores (See Note 14 to the Condensed Consolidated Financial Statements), the Company will no longer receive the royalty paid under the licensing arrangement and the acquisition will likely have a modest negative impact on Consumer Products segment operating income in the near term as we transition from the licensed business.

EXCERPTS ON THIS PAGE:

10-Q
Jul 30, 2008
10-Q
May 6, 2008

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