Marriott Vacations Worldwide Corp. announced Tuesday a number of cost-cutting actions and said it was withdrawing its 2020 financial guidance as the COVID-19 pandemic has resulted in "marked declines" in occupancy, rentals and contract sales since mid-March. The vacation ownership, exchange and resort property management company said it was closing all North America sales centers for two weeks and closing its resorts for rental guests with stays at North America vaction ownership resorts for 30 days. Among the actions taken to cut costs, the company is implementing furloughs and reduced work hours, deferring its 401(k) match, reducing capital expenditures and inventory by up to $240 million if necessary, suspending share repurchases, cutting executive leadership team salaries by 50% and freezing new hires. The company said it has cash of $670 million after drawing down the remainder of its credit facility, and has not debt maturities until September 2022. The stock, which was still inactive in premarket trading, has plunged 62.9% over the past month, while the S&P 500 has dropped 30.6%.

In this special report, Orlando Business Journal takes a comprehensive look at what the coronavirus outbreak has caused in the cost to business, wages and jobs.

Our verdict of the Roborock S6 MaxV:While smart speaker integration needs a little work for more functionality, overall the Roborock S6 MaxV is great. As the first robot vacuum I've seen in action, it has certainly impressed.910It’s 2020. You should have a ro…

Today's the day you finally get one of them fancy robot vacuums to clean up your messes. The Eufy RoboVac 15C self-charging robot vacuum cleaner is down to $115.99 at Newegg. This is a refurbished unit that's sold directly by the official Anker store (Eufy is…

Marriott Vacations Worldwide Corporation (NYSE: VAC) will host a conference call with investors at 8:30 a.m. ET on Friday, May 8, 2020 to discuss first quarter results.

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]

The coronavirus-led crisis is hurting the hotel industry. Its overall RevPAR and occupancy rate are projected to decline in 2020.

Today’s best deals include new all-time lows on Mac Pro, plus notable discounts for SanDisk storage, and a nice price drop on the previous-generation Mac mini. Hit the jump for all that and more in the latest 9to5Toys Lunch Break. more… The post Mac Pro hits…

Hanesbrands (HBI)  gave back a bit on Monday, but still remains up more than 30% from its lows a week or so ago — and boasts a 6% yield to boot. The company’s “innerwear” lines also remain challenged in the age of e-commerce competition and plenty of alternatives for shoppers looking for comfort at a competitive price. Another troubling sign is that the company has binged on junk bonds in recent years and currently sits on $3.6 billion in debt — more than its current market cap.

Shares of Marriott Vacations Worldwide Corp. rose 1.9% in morning trading Wednesday, after the vacation ownership and property management company provided a first-quarter profit outlook that was well above expectations, but said it was furloughing most of its staff, closing all sales centers through May and suspending its dividend in response to the COVID-19 pandemic. The company said contract sales were up 10% from a year ago for the quarter to March 13, but given the impact of the pandemic since then, contract sales for the full quarter are expected to be down 13%. The company expects to report a net loss of $39 million to $114 million, including an impairment charge of $20 million to $100 million. Excluding non-recurring items, the company expects an adjusted profit of $2.15 a share, above the FactSet consensus of $1.27. The actions the company is taking to reduce its cash spend in the face of the COVID-19 pandemic include furloughing nearly 65% of its staff, cutting executive salaries by 50%, reducing work weeks by 25%, deferring 401(k) matches and suspending dividend payments and stock repurchases. The company last quarterly dividend of 54 cents a share was paid in February, which at current stock prices implies a dividend yield of 2.75%, compared with the implied yield for the S&P 500 of 2.02%. Marriott Vacations' stock has plunged 74.0% over the past three months, while the S&P 500 has declined 13.9%.

Today’s 9to5Toys Lunch Break is headlined by the latest iPad Pros from $749, plus a new Best Buy 1-day sale, and deals on VIZIO’s AirPlay 2-enabled TVs. Hit the jump for all that and more. more… The post Every 2020 iPad Pro is on sale in today’s best deals, …

Preliminary Q1 2020 Marriott Vacations Worldwide Corp Earnings Call

Marriott Vacations (VAC) expects to counter the coronavirus adversity on the back of furloughs, reduced work hours and salary cut in the company's top brass.

If you're not a fan of manual labor, you need to get yourself a robotic vacuum cleaner. There are so many affordable options on the market these days that you don't have to spend a fortune to grab one. Take the Shark ION RV750 robot vacuum cleaner, for exampl…

Moody's Investors Service, ("Moody's") downgraded the ratings of Marriott Ownership Resorts, Inc. (a subsidiary of Marriott Vacations Worldwide Corporation, herein combined with other subsidiaries as "Marriott Vacations") including its Corporate Family Rating to Ba3 from Ba2, its Probability of Default Rating to Ba3-PD from Ba2-PD, its senior secured rating to Ba1 from Baa3, and its senior unsecured rating to B1 from Ba3. At the same time Moody's assigned a Ba1 rating to the company's planned senior secured note issuance and downgraded the company's Speculative Grade Liquidity rating to SGL-3 from SGL-2.

Today’s best deals include iPhone 11/Pro/Max from $549, HomePod is down to $200, and you can save on WD and SanDisk storage for a limited time. Hit the jump for all that and more in today’s 9to5Toys Lunch Break. more… The post iPhone 11/Pro/Max starts at $54…

Today’s best deals include Apple’s 16-inch MacBook Pro at $300 off, plus you can save on Apple Watch Series 3, and a rare discount on iMac Pro. Hit the jump for all that and more in the latest 9to5Toys Lunch Break. more… The post Wednesday’s best deals: 16-i…

Marriott Vacations Worldwide (NYSE: VAC) announced today that it has amended its non-recourse warehouse credit facility (the "Warehouse Facility"), expanding its borrowing capacity to $531 million, an increase of $181 million.

For those still plodding along with some ancient, plug-in, standup vacuum cleaner like your parents used to use, you need to step into modern society. Look, we’re not even trying to talk you into programmable, autonomous vacuum bots or anything. We’re just ta…

Marriott Vacations Worldwide Corporation (NYSE: VAC) ("MVW," the Company, "we," "us" or "our") today announced that its wholly owned subsidiary, Marriott Ownership Resorts, Inc. (the "Issuer"), priced an offering of its senior secured notes due 2025 (the "Notes") in a private placement. The aggregate principal amount of the Notes increased from $400 million to $500 million. The Company intends to use the net proceeds from the Notes offering for general corporate purposes, including for the payment of fees and expenses related to this offering.

Today’s best deals are headlined by Apple’s 10.2-inch iPad at $99 off, plus AirPods Pro are back to $224, and you can save on various iOttie iPhone mounts. You’ll find all that and more in the latest 9to5Toys Lunch Break below. more… The post Friday’s best d…

These are our current picks for cordless stick vacs. They're powerful, convenient and more affordable than ever.

You can get the Eufy RoboVac 15C self-charging robot vacuum cleaner for just $149.99 with code UPGRADE through the Eufy website right now. This is the best price we've ever seen on a new version of the robot vacuum. The last deal we saw was a couple weeks ago…

Marriott Vacations Worldwide Corp. said Thursday it has amended its non-recourse warehouse credit facility to expand its borrowing capacity to $531 million, up by $181 million. Under the terms of the agreement, the termination date for the existing $350 million warehouse facility remains Dec. 2021, with the additional capacity terminating on March 31, 2021. The interest rate on the warehouse facility is Libor plus 1.4%. The company has more than $310 million of borrowing capacity following the amendment.

Marriott Vacations Worldwide Corporation (NYSE: VAC) today reported preliminary first quarter 2020 financial results and provided an operational update on business conditions in light of the COVID-19 pandemic.

Marriott Vacations Worldwide Corporation (NYSE: VAC) announced today that Stephen P. Weisz, president and chief executive officer and John Geller, executive vice president and chief financial and administrative officer will participate in a fireside chat session at the Goldman Sachs Travel and Leisure Conference on Tuesday, June 2, 2020 at 10:35 a.m. ET.

Would you rather have to clean up a mess later or do what you can now to prevent the mess from happening in the first place? READ MORE...

Today's the day you finally get one of them fancy robot vacuums to clean up your messes. The Eufy RoboVac 15C self-charging robot vacuum cleaner is down to $115.99 at Newegg. This is a refurbished unit that's sold directly by the official Anker store (Eufy is…

Marriott Vacations Worldwide (NYSE: VAC) announced today that due to quickly accelerating travel restrictions and restrictions on business operations as a result of the COVID-19 pandemic, the Company has decided to close all of its North America sales centers for two weeks effective March 23, 2020. In addition, beginning March 25, 2020, we are closing our resorts for rental guests with stays at our branded North America vacation ownership resorts for the next 30 days, and are reducing operations and amenities at all of our resorts based on various governmental mandates and advisories.

A Chicago-based company has laid off workers at its Orlando location due to impacts from the coronavirus. Flying Food Group LLC laid off 63 workers on March 20 at its 6360 Hazeltine Drive facility, according to a March 24 letter notifying the state.

Water splitting with an internal quantum efficiency of almost unity is achieved using a modified semiconductor photocatalyst that selectively promotes the hydrogen and oxygen evolution reactions on separate crystal facets.

Video doorbells may not be the best "security" device for your home, and some will argue that there's no real point to having one, but I strongly disagree. Ring has been the center of a lot of attention (both good and bad) in the recent months, but the compan…

Tuesday’s best deals include the new Anker Memorial Day sale from $9, plus refurb Apple Watches, and Apple’s official iPhone 11/Pro/Max cases hit all-time lows. Hit the jump for all of today’s best deals and more in the latest 9to5Toys Lunch Break. more… The …

In this series, dubbed Coronavirus Chronicles, OBJ will revisit small business executives in various industries to discuss how they're grappling with the unforeseeable questions caused by the coronavirus. This is the second story about Chuck Whittall, president of Orlando-based developer Unicorp National Developments Inc. You can see the first installment about Unicorp here. One of Orlando's most active developers and landlords last week told OBJ that nearly three-quarters of its retail tenants couldn't meet their lease obligations due to the coronavirus pandemic — something being seen throughout the region and world.

It’s a loaded 9to5Toys Lunch Break as near all-time lows hit Apple’s latest MacBooks, Apple Watch Series 5, and AirPods Pro. You can get all the details on these stellar early Memorial Day deals just below. more… The post Early Memorial Day deals include up …

Water splitting with an internal quantum efficiency of almost unity is achieved using a modified semiconductor photocatalyst that selectively promotes the hydrogen and oxygen evolution reactions on separate crystal facets.

In an attempt to hang out with friends without risking the spread of coronavirus, I’ve built a drive-in movie theater in my backyard. Here’s how I did it.Read more...

The great thing about a vacuum is that it’s so versatile. Want to get the daily detritus of life out of your carpets? Your vacuum is perfect for that, obviously. It’s also great for getting crumbs out of the crevices of your couch, sucking dust off the slats …

The Orlando-based company called the impact fo the coronavirus on business "widespread and profound."

Marriott Vacations Worldwide Corporation (NYSE: VAC) ("Marriott Vacations Worldwide," the "Company," "we" or "our") today announced that its wholly owned subsidiary, Marriott Ownership Resorts, Inc. (the "Issuer"), intends to offer, subject to market and other conditions, $400 million aggregate principal amount of senior secured notes due 2025 (the "Notes"). The Company intends to use the proceeds of the offering for general corporate purposes and pay related fees and expenses.