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The Disneyland Report > Disney News > Children's Place to Buy Disney Stores Disney NewsChildren's Place to Buy Disney StoresNEW YORK - Children's Place Retail Stores Inc. on Wednesday said it will buy 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 will pay Disney 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. To read the rest of this article, click here.Return to Disney News. |
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