Protests set to cut $275m from Hong Kong Disneyland earnings

Theme park's woes add to struggles faced by hotels, tour operators and retailers

Disney's profit warning comes a week after the Hong Kong government said its economy slid into recession for the first time in a decade, hurt by five months of increasingly violent protests and the U.S.-China trade war. © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asian Review chief banking and financial correspondent

November 8, 2019 20:14 JST

HONG KONG -- Walt Disney Co. said that continued anti-government protests in Hong Kong could drag full-year earnings at the local Disneyland theme park by $275 million.

Operating income at Hong Kong Disneyland fell $55 million in the fiscal fourth-quarter ended Sept. 30, Chief Financial Officer Christine McCarthy said in a call with investors after the company released annual earnings.