Walt Disney expands key retail relationship

Article Excerpt

The pandemic spurred Walt Disney to close almost all of its brick-and-mortar stores to focus on its more profitable e-commerce business. But now, together with Target Corp., it’s building back that presence. WALT DISNEY CO. $184.41 (New York symbol DIS; TSINetwork Rating: Above Average) (www.disney.com; Shares o/s: 1.8 billion; Market cap: $331.4 billion; No dividend) continues to close North American Disney Store retail locations, with 57 more shuttering in the coming weeks. The Disney Store brand was founded in 1987 and topped out at 293 locations. After the current closures, there will be about 25 remaining. Meanwhile, however, Target Corp. (symbol TGT on New York) is opening over 100 additional Disney Store shops inside of its own stores. There are now 60 small shops inside Target (as well as an online store at Target.com/Disneystore). The new stores will bring the total number of Disney Store shops to 160 U.S. Target locations. The Disney shops within Target will be staffed by Target employees, who…