It may not exactly be the 'death knell' for themed retailing, but the recent announcement by Disney that the company was reorganizing and reorienting its retail stores indicates that a continuing decline in sales has the company ready to take drastic action.  Disney, which currently has 454 stores, also plans to close up to 154 of its outlets by 2005; but unlike AOL Time/Warner, which all but abandoned retailing last year (see 'That's All Folks'), Disney has decided to salvage what it can of its retail operations by refocusing its stores along two different paths, essentially creating two smaller chains out of one monolithic retailing empire.  Disney Play stores will feature toys based on the Disney characters, while the Disney Kids At Home stores will focus on apparel, furniture and other products for children that appeal to parents.