IT's offical Disney Stores SOLD!!

[wdwmaniac]

Children's Place to buy Disney stores

In effort to expand market share, firm says it will invest $100M in Disney's money-losing business.
October 20, 2004: 9:47 AM EDT



NEW YORK (Reuters) - Children's Place Retail Stores Inc. said Wednesday it will purchase Walt Disney Co.'s chain of North American retail stores and pledged to invest $100 million in them.


Children's Place said the deal allows it to expand into the market for merchandise for newborns to age 10. For Disney, the deal allows the company to unload a business that has consistently been a drag on earnings.

The deal includes 313 stores that sell clothing, toys and other merchandise emblazoned with Mickey Mouse and other Disney characters, plus a long-term licensing deal in which the stores will pay royalties to Disney beginning on the second anniversary of the closing of the deal.

Children's Place (Research) will pay Disney (Research) a "working capital adjustment" that will be determined at closing based on the value of the stores' inventory and other factors, a Children's Place spokeswoman said.

In addition, the company plans to invest as much as $100 million in the operations, including $50 million at closing.

Children's Place said it plans to fund the transaction with cash on hand and short-term borrowings and does not expect to take on long-term debt or issue any stock for the deal.

Children's Place expects the deal to boost its earnings in its fiscal 2004, assuming the deal closes in November.

 

[TheDisneyGirl02]

As if my day hasn't been bad enough...now this news.

But basically, it's nothing we didn't know before, except it was made public. Oh well...life goes on...

TheDisneyGirl02

 

[walts son 1971]

Just listened to the conference call at childrensplace.com takes about an hour to here but has a lot of info.Nothing was said about employees and the fate of us castmembers.They will be seperate from the catalog and will start there own web site disneystore.com in oct 2005,as most of you know disneystore.com is now disneydirect.com.And the stores will no longer have snowglobes

 

[TheDisneyGirl02]

And the stores will no longer have snowglobes

Big mistake on TCP's part! They are so popular, especially with adults. But, I think since it is TCP, they want to focus on kids, which is ashame for us adults....

TheDisneyGirl02

 

[walts son 1971]

If you have time you should listen to the conferance call on childrensplace.com its very interesting

 

[TheDisneyGirl02]

If you have time you should listen to the conferance call on childrensplace.com its very interesting

Is it good interesting or bad interesting?

TheDisneyGirl02

 

[danzingcutie12]

Where is this confrence call on the website? I went there, but I can't seem to find it...

Mandy

 

[walts son 1971]

www.childrensplace.com then investor relations at the top of the page then autio archives then click replay takes about an hour .good luck

 

[prberk]

www.childrensplace.com then investor relations at the top of the page then autio archives then click replay takes about an hour .good luck

Can you give us the gist of what it says?

 

[walts son 1971]

It is most of the management of the childrens place talking to financial people about there plans with the stores.They are going to keep the disney store name and wont mix branding between the two stores,will have more infant clothes and some adult and they are planning on keeping toys and will not be selling snow globes.In oct 2005 they are going to start back up disneystore.com and will be seperate than disneydirect.com.They didnt say anything about castmembers at all only that they are going to close a few more stores this year then start remodels like the castle stores disney started.They want to have over 600 stores in 5 years with lots of disney store outlet stores.I worked this weekend and had to fill out all the childrens store paperwork so to me the deal is done.They are giving everyone that works there a 30% discount in both stores so I will loose my 35% off to 30 and so far nothing about a WDW discounts. If I loose WDW discounts Im done I dont want to work for the childrens place at all.One other thing they are planning on having few sales and most of the prices on products will go up.People complain now about the prices.The end is very very near fellow castmembers thanks disney for 6 years and 20 trips to WDW as a castmember.

 

[walts son 1971]

Bad news fellow castmembers my store manager just called me at my real job to give ne the news .Starting mid november we will no longer get hotel discounts or food or merc discounts in the parks.All we will get is 3 passes a year 1 day 1 park passes not even hoppers like we get now.So starting mid november we will no longer be castmembers.Well it was a good 6 years I had,glad we went to WDW in september and did everything we wanted and bought what we wanted.Sorry everyone the partys over

 

[monorail256]

Like I've said before... the perks werent my reason for starting there.. and really arent a reason for me to quit. I can live without the 20% down at the parks. I'm really suprised we are getting the tickets.

Aside from what Walts Son said, anyone who worked at the Disney Store and held a 'silver pass', they will now be givin a 'purple pass'. I don't really remember all the specifics about it.. but I think it is pretty much the same thing as the silver pass.

I am actually kinda excited about the change over... I'm ready for a store remodel, new registers, new costumes... everything. It's been fun being owned by Disney, but all in all, I'm still a castmember at heart.

:wave:

 

[Coree]

Just gotta say that I like your attitude, Ryan. I had to leave my job at TDS about a year ago, but if I was still there I'd be staying too. It sounds like TCP has some great things planned for the stores--more than Disney was putting into it. I'm glad you guys are still getting some perks. Just remember that to the average guests, you're still representing the Disney magic. They won't understand all the management changeover--so you'll still be Disney to them. I'm excited to see what happens.

 

[tigger248]

When you say we lose our discounts mid November, do you know of a specific date when this will happen? I'm going Nov. 10-15 and would really like to be able to get my discounts. Obviously we'll still go regardless and this really doesn't affect my wanting to stay at TDS (I love it there!). But, I'm just curious as to whether or not I'll be able to still get my merchandise discounts while there.

 

[walts son 1971]

Am told you will still get your room but may not get your other discounts,no specific date has been announced as of yesterday,good luck I would check with your manager as the date gets closer maybe call the resort to make sure you get your room.

 

[walts son 1971]

Ryan , the reason Im so pi#### off is Ive worked there for 6 plus years have seen 3 managers come and go and Im the only original castmember in our store.I have won many many sales awards working there and have always given 150% everytime Ive worked.Working there is what I call my fun job not the stressfull real job I have everyday.I think if working there is because you like working retal then you should stay,I only do it for the discounts and my love of all things Disney.The sign may still say Disney store but it wont be Disney to me anymore than target or walmart is.Atleast we Disney fans still will have the catalog and disney direct on the web.Good luck to all that stay my manager guesses she is going to loose about half of her workers in the next couple weeks stupid time of the year to do this childrens place loose the best employees just before christmas.

 

[monorail256]

stupid time of the year to do this childrens place loose the best employees just before christmas.

I couldn't agree with you more on this topic...

Its not that I'm trying to argue with you, its just that the two of us have different views regarding the whole switch over from Disney Store to TCP. I respect you for giving the Disney Store 6 years of service. That's a real accomplishment. Good luck to you.

 

[walts son 1971]

Im not wanting to seem that Im argueing with you Im not I seem to come accrost to a lot of people that way on this site.I see your young and the childrens place will probably be a good thing for you and thats fine.I am almost 40 have a wife and two kids that I have had to miss some things with over the years to work at the disney store.I only wish the childrens place the best with this new venture.I guess I have only 6 years till my youngest graduates high school then we plan to move to florida and work at WDW,was hopeing to work at the disney store till then so my years of service would carry over.Good luck to all the future childrens place employees,I hope it all works out

 

[TheDisneyGirl02]

Is the discount thing on merch and food 100%? On the paper that I read at my store on Wednesday, it said, "more details to follow". Have those details been announced yet?

All I can say is that I'm staying, but Disney will lose a lot of money because of taking away the discount at the parks. I spent nearly $500 when I was there 2 weeks ago. It's too bad they want to sacrifice that money...

TheDisneyGirl02

 

[walts son 1971]

I agree I wish I would only spend $500.00 a trip they get me for a ton more each trip.Even with our discounts we cast spend a ton,most of us including myself never leave property only to go to the airport.So all our money stays with disney.I would think they would give some sort of discount to the childrens place Im sure most people who work there are young people with young kids the exact people disney wants.Talked to my manager yesterday and she wants me to stay a little longer just work a couple hours a month till everything is finalized.She herself is not happy with the benefits offered by the childrens place,higher insurance change in her silver pass,less vacation and less hollidays.For some reason we are going to take catalog returns at this time.As of yesterday we have 8 people leaving our store when the change happens.