Today we got to hear a number of updates from Disney’s CEO, Bob Chapek, and Disney’s Chief Financial Officer, Christine McCarthy during the Company’s Quarterly Earnings call.
Magic Kingdom
We got updates about park attendance and spending, theme park revenues, Disney+, and much more. We also got some comments from Disney’s CFO about potential things under consideration for cutting costs in the company.
During the earnings call, one person asked a question about inflation. Specifically they wanted to know what Disney is thinking when it comes to inflation and how to mitigate its potential impact on the company.
McCarthy, Disney’s CFO, responded to the question. She shared that many companies are facing this concern now. She shared that Disney is considering a few different ways when it comes to mitigating inflation, particularly in the parks.
Disney’s Animal Kingdom
McCarthy shared that she has been talking to the senior team in the parks about some options and noted that there are “lots of things that are worth talking about.” McCarthy said, “you know we can adjust suppliers. We can substitute products. We can cut portion size, which is probably good for some people’s waistlines.” (*record scratch* Yes, you read that correctly. Well, that was quite the comment to make).
McCarthy also noted, “We can look at pricing where necessary. But we aren’t going to go just straight across and increase prices. We’re really going to try to get the algorithm right to cut where we can and not necessarily do things the same way.”
Satu’li Canteen Bowl
According to McCarthy, the team is really attempting to think about ways to mitigate the challenges posed by inflation.
Of course, these are just items under consideration at the moment. We’ll be sure to keep an eye out for more news and we’ll let you know what we find.
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Pretty offensive statement she made about waistlines medications can make people gain weight also. If they want to save money they can reduce the pay for top executives.
Considering how inclusive Disney is with everything else, this is a very harsh statement. Wow…
I agree, Disney executives spread that money at the top to your employees. Also, when I’m on bay, I’m sure not worried about my waistline. How dare you consider cutting back when I’m spending thousands of dollars. Keep the large portions coming. You can’t fool us.
Very bad comment to make. For a supposed family inclusive company, this is harsh. Time for Bob Iger to be reinstalled and clean some upper level folks out.
Aside from the offensive waistline comment (seriously???), this is bothersome as well:
“….you know we can adjust suppliers. We can substitute products.”
This sounds like a serious willingness to reconsider Disney’s value proposition, which has up to now been based almost entirely on QUALITY.
If Disney starts down the road of “adjusting” suppliers or “substituting products ” to cut costs, they will start down a slippery slope.
Without the differentiation of high quality, Disney is just another theme park–a way overpriced one.
Offensive much? I agree that obesity is an issue but portion sizes in Disney are hardly the reasoning for it. She mentioned about raising prices to cope with inflation? Uh, how does that make any sense? It doesn’t. Someone please get these two out of their positions. Disney is going to crumble because of them.
Are they trying to upset the people that pay their ridiculous salaries?
This is clearly a joke that wasn’t made against any one in particular or against the average Disney customer. Disney is a very accommodating resort for guests of all sizes. If you’re offended by this, you need to relax because you’re way too sensitive.
Just shows how desperate they are to justify their stupid decisions, further illustrating the “new and improved” Disney mantra – “We know what you want and need better than you do! It will make your life better! Now give us more money for our brilliance! Paying more for less makes you value it more!”
Arrogant bunch of ….
Sorry. I am just so tired of all this BS. Please make it stop.
“But we aren’t going to go just straight across and increase prices.”
Has Miss McCarthy been reading anything about what’s going on at The Disney group?
It obvious that she has not visited DisneyWorld or Disneyland…..
Well if they want to reduce portion sizes, then reduce the prices too! That’s only fair . I don’t think anyone would mind that but giving people less for the same price or higher is just wrong in my opinion.
Give me a break!!! Merchantdise, tickets, hotel costs all continue to soar. Cuts on cast members, services reduced. Thanks a lot. I see where the loyalty lies. What a stupid statement and thought.
That was a very disgusting remark to make considering how “open minded” Disney seems to be. To pass judgment on possible park visitors because of how they look is another way to drive people away from Disney.
But yet they are spending a fortune making changes to rides to try not to cause offence and be more inclusive. A very poor excuse for maximising profits. Why not reduce executives wages, or stop wasting money on terrible remakes of classics like home alone?
We’re going in September 2022, I fear that will be our last visit due to Disney greed.
I can see the plates now… order a shrimp dinner, and there are 2 on the plate with a teaspoon of rice. Cost, $150.00
The portion size vs cost are already not equal. So not Bob Paycheck is making it an even larger discrepancy.
What a complete butt hole.
Oh sorry, Iforgot to mention those healthy Mickey Bars, Dole whips, Kitchen Sink Subdaes, just to mention a few. You watch your waistline and we’ll watch ours! Oops again, forgot to mention all thos speciality alcoholic drinks
thank you
Essentially fat shaming people in a sugar coated way isn’t the best move if you want people spending on your products. Why does she have a job there?
“Which is probably good for SOME peoples waistlines” Way to body shame people Disney!!
Maybe Disney should concentrate on improving guest experiences a little more and spend less time on reducing amenities, increasing prices and stranding travelers at the airport. It is abundantly obvious that the whole focus of Disney is on increasing profits at the expense of the guest experience. With all the cost cutting measures that Disney has already put in place, using COVID as the opportunity and excuse to make these drastic cost cutting changes , Disney cannot possibly be in financial distress. So let’s be honest, Disney could care less about their guests waistlines or enhancing their vacation experience.
Apparently they have already started watching our waistlines. I’m at Disney now, we’re staying in a club level room, and they have cut out lunch service in the club lounge. Bagged chips and prepackaged cookies have replaced what previously was a lovely lunch. I feel cheated, and now, after these comments, insulted.
Smaller portions = bigger profits
It’s call Shrinkflation. Disney keeps failing at pretty much everything because they can’t realize they’re getting exactly what they voted for.
Ha ha I’m glad Disney is so concerned about our waistlines. I had no idea I was getting fat. I’m so glad we have such enlightened and smart people such as Christine looking out for us. Now let’s have a look at her bloated salary and perks ….
So much for Spice Road Table, those portions are already small.
Once again it is the consumers fault that we are in this economic difficulty. Who are we to still expect the quality and quantity of what Disney has provided in the past! Make sure we are put in our proper place!
So they want to cut the amount of food they serve but not cut the cost. For what we already pay for food they had better not make portion size smaller. Once upon a time…I could go to Disneyworld every other year. Then it became every three years. With all their rising costs I’ll be lucky if I can go every four years. Stop raising prices if you want to keep people coming back to the park.
Maybe her fat salary should be cut as well as the others. Last time I was in WDW in October this year, I found the food to be ridiculously expensive and just of so-so quality. Going forward if I go again, I will just Uber off property to eat, that’s if I even stay there as hotel prices are through the roof, so much so that I’d consider staying at Universal since they are much less and they have better food there. Also with the advent of Genie+ making lines longer and artificially inflating ride waits since they have no incentive not to so it gets you to buy Genie+, I won’t be going back any time soon.
Wow Disney, you all really are getting money hungry. We all understand the costs of goods is raising. However, a lot of us are smart enough to know that the people responsible for the increase in cost of goods are high ranking executives and the small people creating these goods are not even seeing any return on the increase in cost of goods.
So now you want to join in this scheme. Cut portions to save costs. Haha, cut portions will cause people to order more now to actually get full, i.e. apps and deserts; yeah you all are really looking out for our waistlines give me a break. How about you all do good and take a cut in your salaries or put salary hikes on a freeze. You all are making so much money, you all could go a year without getting a paycheck and be fine. Give us people a break who have to save and sometimes scrape together money just to come visit the parks. Walt Disney would have found other ways to make things work.