Disney Parks is lowering some prices and increasing benefits for guests in a bid to win back customers who felt nickel-and-dimed in recent years. Among other changes, the company is increasing the number of cheaper tickets available to guests, relaxing reservation requirements, and reintroducing complimentary overnight self-parking.
The policy changes come after a whirlwind couple of years for the House of Mouse. After shutting down completely early in the pandemic, former CEO Bob Chapek led an initiative to focus on getting visitors to spend more money rather than driving more traffic to the park. Chapek called the strategy "yield management."
This approach worked — for a while. Disney had some record quarters, with the experiences and parks division making $7.9 billion in profits in 2022, which was up from $6.8 billion in profits in 2019, but Disney's famously loyal park visitors could only take so much change. Multipleoutlets reported that the combination of higher costs and more restrictive policies was causing a backlash from customers.
The parks also implemented a number of changes related to the pandemic, such as requiring contactless payment, which also weren't received well by customers.
Now Disney is trying to win them back.
"As we step into this bright future it is important that we continuously evolve to help deliver the best guest experience possible," wrote Josh D’Amaro, parks and resorts chairperson, in a letter. "Many of you know that I’m in the parks fairly often … and I listen to you and to our guests about the things that are working … as well as the things that might need some change."
Disney is making these changes less than two months after CEO Bob Iger took the head role once again from Chapek for a two-year stint aimed at getting the company on firmer ground.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
