CHECKOUT COUNTER: Muscling in on the home-share market
Marriott International has announced its foray into the home-sharing market through a partnership with London-based home-rental management company Hostmaker
1. Muscling in on the home-share market
In a move that could make Airbnb nervous, Marriott International has announced its foray into the home-sharing market through a partnership with London-based home-rental management company Hostmaker. Travellers can log onto tributeportfoliohomes.com and book a stay in any one of more than 200 London homes.
2. H&M cuts its cloth
Fashion retailer H&M is expected to slash its dividend 7.5% for the 2018 financial year, according to the average estimate of 27 analysts surveyed by Bloomberg. It would be the first cut since H&M began trading in 1974. The Swedish retailer has come under pressure as Inditex’s Zara and slicker online rivals steal market share.
3. Coke raises a glass
Coca-Cola reported quarterly earnings and revenue that beat Wall Street expectations. This was due to the relaunch of Diet Coke and Coca-Cola Zero, and an expansion of newer brands. Revenue was US$7.6bn, against an estimate of $7.35bn. Profit was US47c/share, surpassing analysts’ average estimate of 46c. The firm has been buying "health beverage" start-ups as consumers cut back on sugar.
4. Not cleaning up
Consumer goods firm Reckitt Benckiser fell the most in nearly a decade as weak pricing of household cleaning items hurt sales in the first quarter. Like-for-like sales rose just 2%, the company said. This was below the median analyst estimate of 2.6%. The shares fell as much as 9.2% in London trading, the most since October 2008. The company also suffered from the poor launch of a Scholl foot-care product.