Retail

Disney shuts down retail stores in broader shift to technology

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A pedestrian walks past a boarded up Walt Disney Co. Disney store in San Francisco, California, on Tuesday, March 24, 2020.

David Paul Morris | Bloomberg | Getty Images

Like many other companies during the pandemic, Disney has been forced to go digital faster than expected.

The latest move in that transformation came Wednesday, when the company announced it will close 20% of its 300 retail stores around the world. Additional store closures and an undisclosed number of layoffs will follow. The media giant said it will instead bolster its e-commerce business by offering more products on its ShopDisney website. (Sounds a lot like GameStop, right?)

The move is a signal from one of the most…



Source cnbc.com

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