Disney buying back Disney store?
I read this on another forum by a CM who works in a Disney Store. They say Disney is in talks with The Childrens Place about buying back the chain. Here is a copy of the emails:
Today, The Children's Place (TCP) announced it is in advanced talks with The Walt Disney Company for Disney to regain ownership of two-thirds of Disney Stores in North America. Disney confirmed it was talking to TCP about potentially buying back a portion of the chain.
From an email our store received today ...
In an effort to return TCP to its historic levels of productivity, our management team and advisors evaluated various strategies. Unfortunately, as we looked at the potential for this business compared to our initial plans, we realized it would take many more years to achieve the results we expected at the time the acquisition was made. We simply do not the luxury of time. As a result, we concluded the Company should exit the Disney Store Business.
We are actively pursuing alternatives for immediately exiting the business, and we expect to make an announcement very shortly.