(CNBC) – Like many other companies during the pandemic, Disney has been forced to go digital faster than expected.
The latest move in that transformation came Wednesday, when the company announced it will close 20% of its 300 retail stores around the world. Additional store closures and an undisclosed number of layoffs will follow. The media giant said it will instead bolster its e-commerce business by offering more products on its ShopDisney website. (Sounds a lot like GameStop, right?)
The move is a signal from one of the most powerful companies in entertainment that the habits consumers developed during Covid — like online shopping with zippy shipping — will stick around as the economy reopens in the coming months.
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