Pinocchio (1940 movie)
Pinocchio was not successful at the box office when first released, and Disney only earned $1.9 million against a $2.6 million budget. The movie made some success at the American box office, but was not able to profit, due to its poor performance in Europe.  The timing of the move's release was a reason, with World War II cutting off European markets.  Although the United States had not yet gotten into the war, people's interests may have not have meant much among Americans in seeing fantasy stories as they were in the days of Snow White and the 7 Dwarfs.  It also lacked the romance element that had proven popular in Snow White.