Consumer spending has kept the economy moving — but things may be changing. Disney reported yesterday that its theme park business is suffering.
Parks and Resorts revenues for the quarter decreased 5% to $1.8 billion and segment operating income decreased 17% to $467 million. Parks and Resorts results for the quarter reflected lower theme park attendance and guest spending at both the Walt Disney World Resort and Disneyland Resort.
The company also said it was experiencing softness in the current quarter which will continue to impact financial results.