The Walt Disney character Mickey Mouse greets children at Magic Kingdom in Orlando, Florida.
Last year, Disney’s Parks, Experiences and Consumer Products segment was its fastest-growing profit driver. Now, it could be the company’s biggest drag on earnings, thanks to the Covid-19 outbreak.
The coronavirus pandemic has caused many headaches for Disney. The company has faced movie theater closures, film and TV production shutdowns, docked cruise ships and the suspension of most live sporting events.
However, its theme parks are expected to take the biggest hit.
On Tuesday afternoon, Disney is set to tell investors how the company fared during the first three months of the year, its fiscal second-quarter. However, the true scale of the outbreak’s impact on Disney won’t be clear until late summer.
The coronavirus pandemic has crippled the theme park industry, causing amusement parks around the globe to shutter in order to stem the rate of infection.
Disney’s parks are part of a…