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With the holiday season just around the corner, retailers are gearing up to woo consumers. As the economy is still not completely out of the woods and consumer behavior remains cautious, retailers will be using tactical strategies to keep themselves on the growth trajectory. To keep up with its competitors, Macy’s Inc. (M - Analyst Report) is following suit and has initiated its seasonal hiring.
This Zacks Rank #4 (Sell) stock hinted at deploying approximately 83,000 seasonal staff members for its Macy’s and Bloomingdale’s outlets, call centers, distribution centers and online fulfillment centers, portraying a 3.8% increase from the last year, when the retailer appointed about 80,000 associates.
Higher sales generated through the company’s Omnichannel business strategy has led to the allotment of more seasonal associates at online fulfillment centers. This year about 6,600 seasonal employees will be appointed at four online fulfillment centers, while 1,200 seasonal workforces will be stationed at fulfillment areas of 500 Macy’s outlets to manage orders and make the merchandises available at the customer’s door step.
We believe retailers will leave no stone unturned to tap this holiday season. Armed with several strategies that include early-hour store openings, promotional events, free shipping on online purchases or heavy discounts, retailers will try all tricks to boost sales. The coming holiday season seems to be more competitive.
Retailers such as Target Corporation (TGT - Analyst Report), Wal-Mart Stores Inc. (WMT - Analyst Report), Kohl’s Corporation (KSS - Analyst Report) and Toys “R” Us Inc. have already announced their hiring plans for the upcoming holiday season to draw in traffic.
Target plans to employ 70,000 seasonal employees, less than 88,000 it hired last year. This Minneapolis, Minn.-based general merchandise and food discount operator indicated that its own permanent associates are ready to work extra hours during the holiday season. Toys “R” Us Inc. plans to increase its seasonal headcount by 45,000 this year much like last year.
Bentonville, Ark.-based Wal-Mart Stores disclosed plans to sign over 55,000 seasonal workers, up 10% from the prior year, as it gears up for the holiday season. Kohl’s indicated that it will recruit over 50,000 personnel, as it prepares itself for the busiest time of the year. The department store also expects to appoint 6,400 associates at its distribution centers and 350 seasonal staffs for its credit operations. Like Kohl’s, hhgregg also announced its plans to hire 500 qualified home appliance and electronics sales associates to handle the rush during the shopping season for its 228 stores.
After encountering a lower-than-anticipated back-to-school season, retailers seem skeptical about the holiday shopping period as the economic improvement fell short of expectations, which could have led to higher consumer spending. Consequently, retailers are busy bracing themselves for a tough shopping season.