Disney Reclaims Shops from Children's Place

The Walt Disney Co. said it has taken over 220 Disney Stores in North America from Children's Place retail Stores Inc. Disney will close about 98 stores in the United States. The move came after the Children's Place subsidiary that ran the stores filed for bankruptcy protection in March. Analysts said Disney's reclamation of just two-thirds of the stores and the elimination of license fees paid to Disney would help make the outlets profitable again. Part of the turnaround would hinge on refocusing on high margin products, such as DVD's and video games, rather than stuffed Disney characters.