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(via LaughingPlace.com)
Disney to dump Fifth Avenue spot
The company cited high rent as the reason for its decision not to renew a lease at the Fifth Avenue World of Disney store, considered Disney's flagship retail spot.
by Adrianne Pasquarelli
Walt Disney Co. announced Friday that it will not renew its lease for its World of Disney store at 711 Fifth Ave. when it expires in 2010 because of hefty rent increases.
The entertainment conglomerate notified its 220 store employees, called “cast members,” Thursday and Friday that it will be leaving its current 36,000-square-foot space, Disney’s only Manhattan location.
“The Disney Stores are going to be reviewing other potential locations in the Manhattan retail market,” said spokesperson John Nicoletti.
Speculation abounds for the company’s Big Apple relocation. Some in the real estate industry expect Disney to move to an even more tourist-laden area like SoHo or Times Square. The company formerly operated a retail store on 42nd Street and Seventh Avenue, a space which has since become a Champs store.
Robin Abrams, a Lansco Corp. broker and former chairwoman of the retail committee for the Real Estate Board of New York, expects Disney to favor Times Square over SoHo.
“For the most part, [Disney’s] customers are comprised of families and kids—in SoHo, you get a lot of teens and adults who are probably not as provoked to go in and buy a Mickey Mouse shirt,” said Ms. Abrams.
Even a company of Disney’s magnitude is not immune to the current economic downturn. For the nine months ended June 28, Disney reported a 3.8% drop in net income, compared with the same period a year before. Revenue for the nine-month-period ending June 28 increased 6.8%.
World of Disney Store Closing in Manhattan
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blackcauldron85
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carolinakid
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musicradio77
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That was sad news! Never been to the one in 5th Ave. I used to go there since 1996 when it was "The Disney Store" and it was fun. Let's hope if Disney should move to a new location in Time Square in the near future. Let's see if Disney should end up somewhere else if they can put the World of Disney in Times Square where the ESPN Zone and the ABC Headquarters are located. That's where they going to put the World of Disney in place.
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PeterPanfan
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musicradio77
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Don't worry! World of Disney will come back soon. Don't give up Disney in the Big Apple. There's going to be new a location in Times Square. Just be patient. i hope they should make a protest to save the World of Disney to put this one in a new location in Times Square.PeterPanfan wrote:I call this a bad move on Disney's part. This was always one of the things I looked forward to most on trips to The Big Apple.
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Kram Nebuer
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Ahh, I got so scared when I saw the title of this thread! I LOVE the NYC World of Disney because it's like a part of Disney World in the city. I better go before they officially close down! I can't imagine Disney having such a presence on Broadway and then not have a Disney Store in the city anymore.
Though, I hope this news that it's moving to a different location is true! I actually was thrilled to hear that it may be moving to Times Square. I guess you can call me lazy, but I hated walking all the way down Fifth Avenue to get to the Disney Store from Penn Station.
Though, I hope this news that it's moving to a different location is true! I actually was thrilled to hear that it may be moving to Times Square. I guess you can call me lazy, but I hated walking all the way down Fifth Avenue to get to the Disney Store from Penn Station.
Waaiiiiitt...so a possible relocated Disney Store is just going to be a regular mall Disney Store (by Children's Place) a.k.a. The Limited Too by Disney with one shelf of real Disney merchandise? I loved that they changed the NYC Disney Store to World of Disney because then they sold better stuff and stuff from the parks! I hope this possible new one is still a World of Disney!“The Disney Stores are going to be reviewing other potential locations in the Manhattan retail market,” said spokesperson John Nicoletti.
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PeterPanfan
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Re: World of Disney Store Closing in Manhattan
So you're telling me that a company making billions of dollars cant afford to keep the rent of ONE STORE? That either screams cheapskate or serious financial problems.blackcauldron85 wrote:
Disney to dump Fifth Avenue spot
The company cited high rent as the reason for its decision not to renew a lease at the Fifth Avenue World of Disney store, considered Disney's flagship retail spot.
by Adrianne Pasquarelli
Walt Disney Co. announced Friday that it will not renew its lease for its World of Disney store at 711 Fifth Ave. when it expires in 2010 because of hefty rent increases.
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musicradio77
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drfsupercenter
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We had a Disney Store go out of business here a while back too.
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singerguy04
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Toys R Us is located in times square near Virgin if i remember correctly. The World of Disney isn't that far away. I walked the distance from Times square to the world of disney and back in the winter and didn't mind it much. You can also make it a stop on your way to central park, it's a bit out of the way but not too far.carolinakid wrote:World of Disney is at 55th St & 5th Ave, not a difficult walk from Times Square. Well worth the visit! Sorry but I don't know where the Toys R Us store is exactly. I know I've seen it but as we don't have kids I really don't pay attention.