In This Article:
What kind of Mickey Mouse outfit is this?
Actually, Disney (DIS) is the original Mickey Mouse outfit, and the world-renowned rodent has been taking a bit of a drubbing lately.
💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰
The entertainment giant's live-action remake of "Snow White," for example, has been the source of much misery, including mixed reviews and complaints from some circles about a Latina actress in the lead role, as well as the portrayal of the Seven Dwarfs.
The disappointing results prompted Disney to indefinitely pause development of a live-action "Tangled" movie, a reimagining of the 2010 animated film
“The Greatest Showman” director Michael Gracey and Jennifer Kaytin Robinson, who wrote “Thor: Love and Thunder,” were both attached to the project.
Disney shares are down nearly 24% since January and off 25% from a year ago.
Leisure activities hurt by weaker spending: professor
Alice Kassens, professor of economics and director of the Center for Economic Freedom at Roanoke College, told Quartz last month that the broad-market stock selloff appeared to have stemmed from concern about consumer spending.
She added that consumer worries over prices were showing up in weakened consumer sentiment. "This measure is important because it is an indicator of current and future consumer spending, which makes up 70% of total spending in the economy,” Kassens said.
More Experts
-
Stanley Druckenmiller sends curt 7-word response to tariff war
-
Jim Cramer delivers blunt take on tariffs after stocks crash
She noted that vacations and travel would likely take a hit since those are easier to pull back on than food or necessities.
Consumer confidence has been on a downswing, falling 11% in April to a preliminary reading of 50.8, according to the University of Michigan’s consumer sentiment index. That was down nearly 7 points from March and was the second-lowest reading on records going back to 1952.
Joanne Hsu, the survey’s director, said the decline was "like the last month’s, pervasive and unanimous across age, income, education, geographic region and political affiliation."
"Sentiment has now lost more than 30% since December 2024 amid growing worries about trade war developments that have oscillated over the course of the year," she said.
TheStreet Pro trader: double whammy for consumers
James “Rev Shark” DePorre said that the tariff issue was certain to create uncertainty and turmoil, "but what has made it far worse is that it is hitting at the same time that the economic cycle is turning down."