Disney To Close At Least 60 North American Stores, To Focus Online

(RTTNews) - Walt Disney Co. plans to close at least 60 Disney retail stores in U.S. and Canada by the end of 2021, as the company is focusing more on e-commerce as the coronavirus struggles continue, reports said.

The planned North American store closures represents about 20% of its around 300 Disney stores across the world.

The media and entertainment giant is expected to later evaluate whether to extend the closings to other parts of the world. As per reports, the company is mulling a significant reduction of European stores. Stores in Japan and China may not be affected with these actions.

Disney will continue to operate its shops that were opened inside other retailers including Target, as well as stores inside Disney parks.

Across the world, digital shopping is gaining momentum over brick-and-mortar stores as the ongoing coronavirus pandemic forced majority of the people to stay home.

Stephanie Young, president of Disney's consumer products, games and publishing, reportedly said, ".. the global pandemic has changed what consumers expect from a retailer. 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."

As part of its increased focus online, Disney plans to overhaul shopDisney website and apps. In the coming months, the company will add more adult apparel collections, artist collaborations, streetwear, premium home products, and collectibles to its online store.

Disney in late last year had reorganized its media and entertainment businesses aiming to accelerate its direct-to-consumer or DTC strategy following the significant success of its streaming service Disney+.