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Can Retailers Bounce Back on Holiday-Season Hiring Spree?
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Soaring commodity prices have made people spend cautiously, which has been impacting the retail sector. Sales have been slowing and that is worrying retailers. However, even then, they are banking heavily on the upcoming holiday season, which like every year, is expected to boost retail sales.
Retailers are thus leaving no stone unturned to make the most of the holiday season. Although the sector is faced with several challenges, including soaring commodity prices, retailers are trying their best to ramp up sales during this period. Several retailers this year plan to launch early holiday deals, while others are on a hiring spree to meet the surge in demand during that period.
Aggressive Hiring
The retail sector has been struggling with sales slowing month over month for quite some time. However, a modest but 0.4% jump in retail sales in August ahead of the holiday season is a good sign for the worried retailers. Although rising prices have been impacting retail sales over the past few months, the sector has still managed to fight back as higher demand for goods has been driving sales.
Besides, the industry is facing several other challenges. Supply-chain crisis and higher freight charges are also hindering smooth sales. However, retailers are hopeful for a great holiday season.
Holiday season sales account for a sizeable chunk of yearly revenues for retailers and are one of the most important sales windows. And this holiday season might not be as bad for the retail sector as was initially anticipated. The annual holiday retail estimate from Deloitte predicts a 4-6% increase in retail sales.
Spending will total between $1.45 trillion and $1.47 trillion between November and January. Sales during the holiday season last year totaled $1.49 trillion, a 15.1% increase from 2020. Given that everyone is wary about spending this year, the prediction is quite low, but the good thing is that even then, sales are expected to rise quite significantly.
This has made retailers optimistic, and they are once again going on a hiring spree. Retailers like Amazon.com, Inc. (AMZN - Free Report) and Target Corporation (TGT - Free Report) will be launching early holiday deals, which will begin in October.
Target Corporation plans to hire 10,000 seasonal workers ahead of the holiday season to meet customers’ demands during that period. TGT is also back with its ‘Target Deals Day’ with the aim of luring more customers to buy essentials and must-have products. This time, Target Corporation will start the ‘Target Deals Day’ on Oct 6, which will continue till Oct 8.
Moreover, for those who look for the best deals, TGT is coming up with “Holiday Price Match Guarantee.” The offer will start on Oct 6 and continue through Dec 24. Target Corporation carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DICK'S Sporting Goods, Inc. (DKS - Free Report) too is aggressively hiring workers for the upcoming holiday season. DKS plans to hire at least 9,000 heads ahead of the holiday season. DICK’s Sporting Goods has been doing well despite the sector facing several challenges because of its both strong online and offline presence. Given that a lot of people plan to travel this year, DKS expects sales of its athletic wear to grow during the holiday season.
Walmart Inc. (WMT - Free Report) has always been a major player during the holiday season. This time it’s going to be no different. WMT will be hiring 40,000 workers ahead of the holiday season. Walmart intends to fill in a wide range of positions, from temporary store clerks to full-time, permanent truck drivers. For the holiday season, Walmart more hours will be available to its existing employees.
Walmart also unveiled updated return policies and windows, including a return pickup from home option for Walmart+ members for the holiday season.
Macy's, Inc. (M - Free Report) is also keeping pace with other major retailers and is planning to hire thousands of workers for the holiday season. Last week, M said that it was looking to hire more than 41,000 seasonal full- and part-time employees for its Macy's, Bloomingdale's, and Bluemercury stores, as well as call centers and supply-chain locations.
Macy said that it will start its pay at $15 per hour, with flexible scheduling options that may include voluntary overtime. Employees will receive discounts, and some programs may allow them to make extra money. M also said that most job offers are made within 48 hours and provide information on online and in-person hiring events, bloomingdalesJOBS.com, and bluemercury.com. Macy’s will start its first holiday hiring event on Oct 6.
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Can Retailers Bounce Back on Holiday-Season Hiring Spree?
Soaring commodity prices have made people spend cautiously, which has been impacting the retail sector. Sales have been slowing and that is worrying retailers. However, even then, they are banking heavily on the upcoming holiday season, which like every year, is expected to boost retail sales.
Retailers are thus leaving no stone unturned to make the most of the holiday season. Although the sector is faced with several challenges, including soaring commodity prices, retailers are trying their best to ramp up sales during this period. Several retailers this year plan to launch early holiday deals, while others are on a hiring spree to meet the surge in demand during that period.
Aggressive Hiring
The retail sector has been struggling with sales slowing month over month for quite some time. However, a modest but 0.4% jump in retail sales in August ahead of the holiday season is a good sign for the worried retailers. Although rising prices have been impacting retail sales over the past few months, the sector has still managed to fight back as higher demand for goods has been driving sales.
Besides, the industry is facing several other challenges. Supply-chain crisis and higher freight charges are also hindering smooth sales. However, retailers are hopeful for a great holiday season.
Holiday season sales account for a sizeable chunk of yearly revenues for retailers and are one of the most important sales windows. And this holiday season might not be as bad for the retail sector as was initially anticipated. The annual holiday retail estimate from Deloitte predicts a 4-6% increase in retail sales.
Spending will total between $1.45 trillion and $1.47 trillion between November and January. Sales during the holiday season last year totaled $1.49 trillion, a 15.1% increase from 2020. Given that everyone is wary about spending this year, the prediction is quite low, but the good thing is that even then, sales are expected to rise quite significantly.
This has made retailers optimistic, and they are once again going on a hiring spree. Retailers like Amazon.com, Inc. (AMZN - Free Report) and Target Corporation (TGT - Free Report) will be launching early holiday deals, which will begin in October.
Target Corporation plans to hire 10,000 seasonal workers ahead of the holiday season to meet customers’ demands during that period. TGT is also back with its ‘Target Deals Day’ with the aim of luring more customers to buy essentials and must-have products. This time, Target Corporation will start the ‘Target Deals Day’ on Oct 6, which will continue till Oct 8.
Moreover, for those who look for the best deals, TGT is coming up with “Holiday Price Match Guarantee.” The offer will start on Oct 6 and continue through Dec 24. Target Corporation carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DICK'S Sporting Goods, Inc. (DKS - Free Report) too is aggressively hiring workers for the upcoming holiday season. DKS plans to hire at least 9,000 heads ahead of the holiday season. DICK’s Sporting Goods has been doing well despite the sector facing several challenges because of its both strong online and offline presence. Given that a lot of people plan to travel this year, DKS expects sales of its athletic wear to grow during the holiday season.
Walmart Inc. (WMT - Free Report) has always been a major player during the holiday season. This time it’s going to be no different. WMT will be hiring 40,000 workers ahead of the holiday season. Walmart intends to fill in a wide range of positions, from temporary store clerks to full-time, permanent truck drivers. For the holiday season, Walmart more hours will be available to its existing employees.
Walmart also unveiled updated return policies and windows, including a return pickup from home option for Walmart+ members for the holiday season.
Macy's, Inc. (M - Free Report) is also keeping pace with other major retailers and is planning to hire thousands of workers for the holiday season. Last week, M said that it was looking to hire more than 41,000 seasonal full- and part-time employees for its Macy's, Bloomingdale's, and Bluemercury stores, as well as call centers and supply-chain locations.
Macy said that it will start its pay at $15 per hour, with flexible scheduling options that may include voluntary overtime. Employees will receive discounts, and some programs may allow them to make extra money. M also said that most job offers are made within 48 hours and provide information on online and in-person hiring events, bloomingdalesJOBS.com, and bluemercury.com. Macy’s will start its first holiday hiring event on Oct 6.