Deadline spoke with Walt Disney Head of Production Sean Bailey who said there are no current plans for a Beauty and the Beast sequel...
“There are currently no plans for a sequel and the studio — perhaps with Alice Through The Looking Glass as a reminder — won’t try to force one. It will explore possible spinoff and prequel scenarios.”
Spinoffs and prequels? Of who? Cogsworth's early adventures? A Lefou origin story? Maybe bringing back Luke Evans as Gaston would be a cool idea if done right. Disney is smart to be cautious. Alice Through the Looking Glass, which only earned $299M overall, was a blemish I don't think Disney was prepared for coming off the $1B-grossing 2010 film.
So Disney's kind of in a bind here. They probably need to move quickly if they want to capitalize on Beauty and the Beast's popularity, especially if there's a hope of bringing in stars like Evans, Emma Watson, or Dan Stevens. But it's also a project that requires a measured approach to make sure a major mistake isn't made.