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Gap to Hire 65,000 Seasonal Workers for Peak Holiday Season
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Treading on the path of other retailers The Gap, Inc. (GPS - Free Report) also unveiled its plan to hire seasonal workers to tackle the rush in the upcoming festive period. While Kohl’s (KSS - Free Report) declared its hiring plan beforehand in July, Macy’s (M - Free Report) and Target (TGT - Free Report) followed the suit. Seems like, all the retailers are geared up for the busiest season of the year.
Gap plans to deploy around 65,000 seasonal employees for its Gap, Banana Republic, Athleta and Old Navy stores as well as call centers and distribution centers for the holiday period. The company will host the hiring event in the United States on Oct 6, 2018 and in Canada on Oct 13, 2018. Seasonal employees will get perquisites like 50% discount on regular-priced merchandise at Gap, Banana Republic and Old Navy stores, 30% rebate at Outlet and Factory stores, while 25% off at Athleta stores.
Holiday season is a crucial time for retailers as it accounts for a sizeable chunk of yearly revenues and profits. Retailers try to attract customers with early-hour store openings, huge discounts and promotional strategies. Clearly, gradual wage acceleration, steady job growth, improving consumer sentiment and sound economic fundamentals are working in tandem for the sector. Moreover, National Retail Federation’s projection of a tick-up in U.S. retail sales of at least 4.5% this year raises optimism.
Wrapping Up
Robust omni-channel efforts, solid growth strategy, efficient capital-allocation plan and impressive surprise history are the key strengths for Gap. However, persistent softness seen in the flagship brand over the past few quarters has been a hindrance for the stock. So far this year, this Zacks Rank #3 (Hold) company has plunged approximately 21%, underperforming its industry’s and S&P 500 index’s growth of 2.7% and 8%, respectively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Management remains focused on reviving the Gap brand by optimizing the organizational structure of the same. The company’s consistent focus on enhancing product quality and responsiveness to changing consumer trends also bode well. In addition, it remains keen on making constant efforts to bolster digital and mobile offerings besides improving product acceptance. Gap extended the “find-in-store”, “Reserve-in-Store” and “Order in Store” capabilities across various stores.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Image: Bigstock
Gap to Hire 65,000 Seasonal Workers for Peak Holiday Season
Treading on the path of other retailers The Gap, Inc. (GPS - Free Report) also unveiled its plan to hire seasonal workers to tackle the rush in the upcoming festive period. While Kohl’s (KSS - Free Report) declared its hiring plan beforehand in July, Macy’s (M - Free Report) and Target (TGT - Free Report) followed the suit. Seems like, all the retailers are geared up for the busiest season of the year.
Gap plans to deploy around 65,000 seasonal employees for its Gap, Banana Republic, Athleta and Old Navy stores as well as call centers and distribution centers for the holiday period. The company will host the hiring event in the United States on Oct 6, 2018 and in Canada on Oct 13, 2018. Seasonal employees will get perquisites like 50% discount on regular-priced merchandise at Gap, Banana Republic and Old Navy stores, 30% rebate at Outlet and Factory stores, while 25% off at Athleta stores.
Holiday season is a crucial time for retailers as it accounts for a sizeable chunk of yearly revenues and profits. Retailers try to attract customers with early-hour store openings, huge discounts and promotional strategies. Clearly, gradual wage acceleration, steady job growth, improving consumer sentiment and sound economic fundamentals are working in tandem for the sector. Moreover, National Retail Federation’s projection of a tick-up in U.S. retail sales of at least 4.5% this year raises optimism.
Wrapping Up
Robust omni-channel efforts, solid growth strategy, efficient capital-allocation plan and impressive surprise history are the key strengths for Gap. However, persistent softness seen in the flagship brand over the past few quarters has been a hindrance for the stock. So far this year, this Zacks Rank #3 (Hold) company has plunged approximately 21%, underperforming its industry’s and S&P 500 index’s growth of 2.7% and 8%, respectively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Management remains focused on reviving the Gap brand by optimizing the organizational structure of the same. The company’s consistent focus on enhancing product quality and responsiveness to changing consumer trends also bode well. In addition, it remains keen on making constant efforts to bolster digital and mobile offerings besides improving product acceptance. Gap extended the “find-in-store”, “Reserve-in-Store” and “Order in Store” capabilities across various stores.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>