Government
Disney World and Universal Studios May Have an Attendance Problem
Disney has sent mixed signals about its theme park attendance while Universal has made a move that suggests it wants more people to visit its park for longer.
Disney has sent mixed signals about its theme park attendance while Universal has made a move that suggests it wants more people to visit its park for longer.
Call the omicron variant the villain in the story of why Florida's Walt Disney World and Universal Studios appear to have at least a short-term attendance problem. In many ways, the latest variation of the pandemic may turn out to be a villain more like Gru from the "Despicable Me," franchise or the cantankerous grandfather in Pixar's "Up."
In both of those cases, the villainy turned out to either be misconstrued or short-lived. Now, of course, omicron won't be turning into a beloved character, but its impact could quickly fade and both Walt Disneys (DIS) - Get Walt Disney Company Report and Comcast's (CMCSA) - Get Comcast Corporation Class A Report theme parks could see the impact on their attendance be short-lived.
In the meantime, both Disney and Universal Studios have made some short-term moves to entice people to spend more time at their Florida theme parks.
What Are Disney World and Universal Doing to Increase Attendance?
Disney paused sales of annual passes in Florida for much of the pandemic before changing the program and reopening sales. The company then paused its annual pass program in November, only keeping its lowest level Florida-resident-only Disney Pixie Dust Pass ($399 a year) on sale.
That pass has significant blackout dates which vary for each of the company's four theme parks and you have to prove Florida residency to buy one. By selling those passes -- and only those passes -- Disney clearly wants to boost its weekday, non-holiday attendance.
That makes sense because holidays, school vacations, and weekends, tend to draw larger out-of-town crowds while locals know to avoid the parks (even if they hold a higher-level pass that grants them access.
Disney has also been advertising a Florida-only deal designed to boost short-term attendance. Under this promotion, residents of the Sunshine State can buy two days of weekday access to the company's parks for $149. "Disney Weekday Magic Tickets are valid Monday to Friday only, from January 11 through April 7, 2022 -- subject to blackout dates from March 14 through March 18, 2022," according to the company.
A single-day ticket to one of Disney's Florida theme parks costs between $109 and $159 depending upon the demand/time of year.
Universal Studios, in turn, is taking a different approach and hoping to boost attendance with lower prices for everyone. The theme park brought back its two-days-free deal and is giving those who book before March 31 a total of five days at parks like Islands of Adventure, Universal Studios Florida and the Volcano Bay water park for a starting price of $176.99. (A single-day ticket starts at $109.).
"With this deal, you can get into the parks for as little as $49 per day. You must purchase your tickets by May 5, but they will be valid until December 15 this year, so you can lock in a low price now. All five days on the ticket must be used within seven days of its first use, however," wrote Robert Niles of Theme Park Insider.
In addition, Universal Studios has a buy two-days, get two-days ticket deal for Florida residents. Much like the Disney deal,
Universal is also hoping to get a leg up on its competitors with the promise of no blackout dates. All but the most expensive Disney annual pass, which isn't currently on sale, prevents holders from attending during a few peak periods.
Disney and Universal Expect a Theme Park Comeback
Between lockdowns and fear of catching COVID-19, the early days of the pandemic have certainly been disastrous for the theme park industry — attendance at the 25 biggest parks in the country (Disneyland, Disney World, and Universal Studios are all on this list) fell by 67% between 2019 and 2020, according to a report by the Themed Entertainment Association and AECOM.
But by 2021, visitors were clearly turning to theme parks for a pick-me-up during a drawn-out pandemic — along with rising attendance, average spending at all the Disney parks also increased by 30% compared to 2019. Attendance is certainly boosted by the fact Florida's Governor Ron DeSantis taking a very conservative approach to the pandemic and prioritizing business over any restrictions.
Even so, theme park attendance continues to be on shaky ground in the wake of new variants and rising case counts that cause the more cautious among us to postpone even domestic travel. In that sense, Disney's focus on luring in Florida locals with various deals may be a safer bet than across-the-board discounts to all visitors.
"While re-opened theme parks were a positive driver for the broader business this past quarter, that was accomplished largely with just domestic crowds in attendance," Stephen Guilfoyle wrote for TheStreet's RealMoney.
That said, both the parks themselves and analysts like Guilfoyle are betting on an attendance comeback that continues beyond 2022 as the company navigates increased travel alongside efforts to boost its streaming content. In a memo sent to Disney employees after the last earnings call, CEO Bob Chapek wrote that the consumer was the company's "North Star" in all decision-making.
"Given a little luck, and the grace of a hopefully abating pandemic, bring on foreign tourism," Guilfoyle wrote.
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Low Iron Levels In Blood Could Trigger Long COVID: Study
Low Iron Levels In Blood Could Trigger Long COVID: Study
Authored by Amie Dahnke via The Epoch Times (emphasis ours),
People with inadequate…
Authored by Amie Dahnke via The Epoch Times (emphasis ours),
People with inadequate iron levels in their blood due to a COVID-19 infection could be at greater risk of long COVID.
A new study indicates that problems with iron levels in the bloodstream likely trigger chronic inflammation and other conditions associated with the post-COVID phenomenon. The findings, published on March 1 in Nature Immunology, could offer new ways to treat or prevent the condition.
Long COVID Patients Have Low Iron Levels
Researchers at the University of Cambridge pinpointed low iron as a potential link to long-COVID symptoms thanks to a study they initiated shortly after the start of the pandemic. They recruited people who tested positive for the virus to provide blood samples for analysis over a year, which allowed the researchers to look for post-infection changes in the blood. The researchers looked at 214 samples and found that 45 percent of patients reported symptoms of long COVID that lasted between three and 10 months.
In analyzing the blood samples, the research team noticed that people experiencing long COVID had low iron levels, contributing to anemia and low red blood cell production, just two weeks after they were diagnosed with COVID-19. This was true for patients regardless of age, sex, or the initial severity of their infection.
According to one of the study co-authors, the removal of iron from the bloodstream is a natural process and defense mechanism of the body.
But it can jeopardize a person’s recovery.
“When the body has an infection, it responds by removing iron from the bloodstream. This protects us from potentially lethal bacteria that capture the iron in the bloodstream and grow rapidly. It’s an evolutionary response that redistributes iron in the body, and the blood plasma becomes an iron desert,” University of Oxford professor Hal Drakesmith said in a press release. “However, if this goes on for a long time, there is less iron for red blood cells, so oxygen is transported less efficiently affecting metabolism and energy production, and for white blood cells, which need iron to work properly. The protective mechanism ends up becoming a problem.”
The research team believes that consistently low iron levels could explain why individuals with long COVID continue to experience fatigue and difficulty exercising. As such, the researchers suggested iron supplementation to help regulate and prevent the often debilitating symptoms associated with long COVID.
“It isn’t necessarily the case that individuals don’t have enough iron in their body, it’s just that it’s trapped in the wrong place,” Aimee Hanson, a postdoctoral researcher at the University of Cambridge who worked on the study, said in the press release. “What we need is a way to remobilize the iron and pull it back into the bloodstream, where it becomes more useful to the red blood cells.”
The research team pointed out that iron supplementation isn’t always straightforward. Achieving the right level of iron varies from person to person. Too much iron can cause stomach issues, ranging from constipation, nausea, and abdominal pain to gastritis and gastric lesions.
1 in 5 Still Affected by Long COVID
COVID-19 has affected nearly 40 percent of Americans, with one in five of those still suffering from symptoms of long COVID, according to the U.S. Centers for Disease Control and Prevention (CDC). Long COVID is marked by health issues that continue at least four weeks after an individual was initially diagnosed with COVID-19. Symptoms can last for days, weeks, months, or years and may include fatigue, cough or chest pain, headache, brain fog, depression or anxiety, digestive issues, and joint or muscle pain.
Government
Walmart joins Costco in sharing key pricing news
The massive retailers have both shared information that some retailers keep very close to the vest.
As we head toward a presidential election, the presumed candidates for both parties will look for issues that rally undecided voters.
The economy will be a key issue, with Democrats pointing to job creation and lowering prices while Republicans will cite the layoffs at Big Tech companies, high housing prices, and of course, sticky inflation.
The covid pandemic created a perfect storm for inflation and higher prices. It became harder to get many items because people getting sick slowed down, or even stopped, production at some factories.
Related: Popular mall retailer shuts down abruptly after bankruptcy filing
It was also a period where demand increased while shipping, trucking and delivery systems were all strained or thrown out of whack. The combination led to product shortages and higher prices.
You might have gone to the grocery store and not been able to buy your favorite paper towel brand or find toilet paper at all. That happened partly because of the supply chain and partly due to increased demand, but at the end of the day, it led to higher prices, which some consumers blamed on President Joe Biden's administration.
Biden, of course, was blamed for the price increases, but as inflation has dropped and grocery prices have fallen, few companies have been up front about it. That's probably not a political choice in most cases. Instead, some companies have chosen to lower prices more slowly than they raised them.
However, two major retailers, Walmart (WMT) and Costco, have been very honest about inflation. Walmart Chief Executive Doug McMillon's most recent comments validate what Biden's administration has been saying about the state of the economy. And they contrast with the economic picture being painted by Republicans who support their presumptive nominee, Donald Trump.
Walmart sees lower prices
McMillon does not talk about lower prices to make a political statement. He's communicating with customers and potential customers through the analysts who cover the company's quarterly-earnings calls.
During Walmart's fiscal-fourth-quarter-earnings call, McMillon was clear that prices are going down.
"I'm excited about the omnichannel net promoter score trends the team is driving. Across countries, we continue to see a customer that's resilient but looking for value. As always, we're working hard to deliver that for them, including through our rollbacks on food pricing in Walmart U.S. Those were up significantly in Q4 versus last year, following a big increase in Q3," he said.
He was specific about where the chain has seen prices go down.
"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."
McMillon said that in other areas prices were still up but have been falling.
"Dry grocery and consumables categories like paper goods and cleaning supplies are up mid-single digits versus last year and high teens versus two years ago. Private-brand penetration is up in many of the countries where we operate, including the United States," he said.
Costco sees almost no inflation impact
McMillon avoided the word inflation in his comments. Costco (COST) Chief Financial Officer Richard Galanti, who steps down on March 15, has been very transparent on the topic.
The CFO commented on inflation during his company's fiscal-first-quarter-earnings call.
"Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range," he said.
Galanti made clear that inflation (and even deflation) varied by category.
"A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related," he added.
bankruptcy pandemic trumpGovernment
Walmart has really good news for shoppers (and Joe Biden)
The giant retailer joins Costco in making a statement that has political overtones, even if that’s not the intent.
As we head toward a presidential election, the presumed candidates for both parties will look for issues that rally undecided voters.
The economy will be a key issue, with Democrats pointing to job creation and lowering prices while Republicans will cite the layoffs at Big Tech companies, high housing prices, and of course, sticky inflation.
The covid pandemic created a perfect storm for inflation and higher prices. It became harder to get many items because people getting sick slowed down, or even stopped, production at some factories.
Related: Popular mall retailer shuts down abruptly after bankruptcy filing
It was also a period where demand increased while shipping, trucking and delivery systems were all strained or thrown out of whack. The combination led to product shortages and higher prices.
You might have gone to the grocery store and not been able to buy your favorite paper towel brand or find toilet paper at all. That happened partly because of the supply chain and partly due to increased demand, but at the end of the day, it led to higher prices, which some consumers blamed on President Joe Biden's administration.
Biden, of course, was blamed for the price increases, but as inflation has dropped and grocery prices have fallen, few companies have been up front about it. That's probably not a political choice in most cases. Instead, some companies have chosen to lower prices more slowly than they raised them.
However, two major retailers, Walmart (WMT) and Costco, have been very honest about inflation. Walmart Chief Executive Doug McMillon's most recent comments validate what Biden's administration has been saying about the state of the economy. And they contrast with the economic picture being painted by Republicans who support their presumptive nominee, Donald Trump.
Walmart sees lower prices
McMillon does not talk about lower prices to make a political statement. He's communicating with customers and potential customers through the analysts who cover the company's quarterly-earnings calls.
During Walmart's fiscal-fourth-quarter-earnings call, McMillon was clear that prices are going down.
"I'm excited about the omnichannel net promoter score trends the team is driving. Across countries, we continue to see a customer that's resilient but looking for value. As always, we're working hard to deliver that for them, including through our rollbacks on food pricing in Walmart U.S. Those were up significantly in Q4 versus last year, following a big increase in Q3," he said.
He was specific about where the chain has seen prices go down.
"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."
McMillon said that in other areas prices were still up but have been falling.
"Dry grocery and consumables categories like paper goods and cleaning supplies are up mid-single digits versus last year and high teens versus two years ago. Private-brand penetration is up in many of the countries where we operate, including the United States," he said.
Costco sees almost no inflation impact
McMillon avoided the word inflation in his comments. Costco (COST) Chief Financial Officer Richard Galanti, who steps down on March 15, has been very transparent on the topic.
The CFO commented on inflation during his company's fiscal-first-quarter-earnings call.
"Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range," he said.
Galanti made clear that inflation (and even deflation) varied by category.
"A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related," he added.
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