The small cap stock value for Marriott Vacations Worldwide Corp. (NYSE:VAC) was down on Thursday, despite the company's announcement of a new partnership with Clean the World Foundation, Inc.
Marriott announced on July Wednesday, July 11, that the partnership would help the company recycle partially used bars of soap and personal amenities bottles used in its hotels. The items are then distributed to communities around the world that may not have access to such personal hygiene.
According to a release from the company, 9,000 children around the world die every day from diseases that could be prevented by washing with soap. By partnering with Clean the World, Marriott hopes to help these affected children.
"This is a great program that helps so many and we're excited to be involved. To be able to repurpose an item that previously had been discarded to make such a difference to those in need is very rewarding," said Lee Cunningham, executive vice president at Marriott.
Marriott shares were down 3.34 percent to $29.24 at 3:19 p.m. on Thursday, July 12.