Disney Expects Some Calif. Storm Impact

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Published January 13, 2015

Walt Disney Co.'s (DIS) Disneyland theme park has seen a slowdown in traffic due to storms that have hit Southern California over the last week, Chief Operating Officer Bob Iger (search) told Reuters Tuesday.

"It has some impact," he said on the sidelines of an investor conference, when asked if the recent bad weather which has broken rainfall records was having a material impact on revenue. He declined to give details.

Iger also reiterated to the conference that Disney expected double-digit profit growth this year and improvement in all segments.

Disney has already signaled that the fiscal first quarter, which ended in December, faced tough comparisons with the year ago period, which was rich with blockbusters.

But he said that he expected ABC television to return to profit in the current fiscal year and improvement at theme parks, especially Walt Disney World (search) in Orlando, Fla., which has instituted new pricing giving discounts for longer stays.

The company also in May plans to offer free shuttles from the Orlando airport to Disney hotels, including luggage transfer. That service would actually improve company revenue, he added.

"So they are provided with transportation, which is a good thing because we don't like people to rent cars, because if they don't rent cars, they stay on our property longer," Iger said.

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