It is expected to have similar box office run with "Narnia 3".
"Narnia 3" was another fantasy sequel to "flop". It opened at $24 million (while Alice at $26 million on the 3-day weekend) and grossed $104 million domesticly. Alice is $10 million faster at the box office than Narnia, without that meaning Alice will manage to make $10 million more ($114 million).
Narnia 3 was in theaters for 126 days / 18 weeks, same to the first Alice. Alice 2 is probably going to follow the same path.
At the end, Alice is going for $90-100 million domesticly, which is underperforming, but not too bad. Narnia 3 & Alice will have similar run internationally too. Narnia 3 get to make over $300 million internationally and ended with $415 million worldwide. Alice 2 is expected to do even better, probably around $350 million. Which will lead to a $450 million worldwide gross (if it is lucky enough, $500 million).
Considering the film costed $320 million (production + marketing), the film will make some profit, and Disney won't loose much money.
Damn Disney! You always make money! Even with flops!