Disney Consumer Products slips slightly in Q1

Sales for the first quarter decreased three per cent to $746 million.
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Profits for the Consumer Products segment in the same quarter (ended January 2nd 2010) decreased by eight per cent to $243 million.

The firm attributed the lower income to decreased licensing revenue across a number of product categories driven by lower performance of High School Muscial and Hannah Montana merchandise.

Overall the firm reported a one per cent increase in sales to $9,739 million, compared to $9,599 million in the same period of 2008.

Robert Iger, president and CEO of The Walt Disney Company commented: “We are pleased with our first quarter results and are excited about our creative pipeline, from upcoming movies like Alice in Wonderland and Toy Story 3 to new attractions at our Parks and Resorts.

“Our unique ability to deliver outstanding experiences to consumers across platforms, markets and businesses gives us a strong competitive advantage and positions us well for long-term growth.”



Disney dips in Q1

Disney's president says the firm will be reducing costs after first quarter results saw group turnover and profit both fall.

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