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Disney to close 60 North American retail stores, focus on e-commerce

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Reuters

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/reuters/03/04/disney.jpg"/><figcaption>Customers look at &quot;Beauty and the Beast&quot; merchandise in a Disney Store in New York City, US, May 9, 2017. <em>Brendan McDermid, Reuters/file</em></figcaption></figure></div><p>LOS ANGELES - Walt Disney Co will close at least 60 Disney retail stores in North America this year as the company revamps its digital shopping platforms to focus on e-commerce, the company said on Wednesday.</p><p>Disney also is evaluating a significant reduction of stores in Europe, a spokesperson said, adding that locations in Japan and China will not be affected. The company currently operates roughly 300 Disney stores around the globe.</p><p>Disney did not say how many people would lose their jobs as a result of its store closures.</p><p>Consumers have been moving to digital shopping over physical locations, and chains including Walmart Inc and Macy&#x27;s Inc have shuttered physical stores. The global coronavirus pandemic accelerated that change in behavior when people were forced to stay home.</p><p>&quot;While consumer behavior has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer,&quot; said Stephanie Young, president of Disney&#x27;s consumer products, games and publishing.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/12/21/disney-streaming-services-gaining-ground-on-netflix">Disney streaming services gaining ground on Netflix</a></li>	<li><a href="https://news.abs-cbn.com/business/11/26/20/disney-to-layoff-workers-2021-coronavirus">Disney to layoff about 32,000 workers in 1st half of 2021</a></li></ul><p>Over the past few years, Disney has expanded its shops inside other retailers such as Target. Those locations will continue to operate, as well as Disney Parks Stores. Disney-licensed products also will remain widely available through third-party retailers.</p><p>&quot;We now plan to create a more flexible, interconnected ecommerce experience that gives consumers easy access to unique, high-quality products across all our franchises,&quot; Young said.</p><p>Digital shopping gives Disney a chance to offer a much broader selection and include higher-end products from all of its Disney, Pixar, Marvel and Star Wars brands.</p><p>New products will be introduced including adult apparel, artist collaborations, streetwear, premium home products and collectibles, the company said.</p><p>Disney will revamp its shopDisney apps and websites over the next year.</p><p>Disney recently launched new digital marketplaces in Australia, New Zealand and India. </p><div><strong>FROM THE ARCHIVES </strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/2uE3Gvm7hTY?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Walt Disney Co will close at least 60 Disney retail stores in North America this year as the company revamps its digital shopping platforms to focus on e-commerce, the company said on Wednesday.</p>

Walt Disney Co will close at least 60 Disney retail stores in North America this year as the company revamps its digital shopping platforms to focus on e-commerce, the company said on Wednesday.