FOR much of the 1990s, the Walt Disney Co consumer products division was a runaway revenue engine. Operating income grew US$100 million per year, topping out at US$893 million in 1997, as Disney stores sold out of rack after rack of merchandise inspired by “The Lion King” and other animated hits. No self-respecting fourth-grader would let his parents push him out the door without an “Aladdin” lunchbox.
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