In its endeavor to be ready for the upcoming holiday season, Macy’s, Inc. M announced its plans to hire roughly 83,000 seasonal workers to handle the rush. This year’s recruitment level is almost flat with that of last year.
Seasonal employees will be recruited nationwide for Macy’s and Bloomingdale’s locations, call centers, distribution centers and online fulfillment centers. Improved staffing will aid the company cater to its customers in a better way during the hectic holidays.
Notably, during the holiday season retailers stay on their toes, flooding the market with offers and promotions. They sweep buyers off their feet with early-hour store openings, huge discounts, promotional strategies, and free shipping on online purchases. Since the season accounts for a sizeable chunk of yearly revenues and profits, retailers grab every opportunity to drive footfall.
Per media report, other retailers have also announced their hiring plans. Target Corp. TGT intends to employ 70,000 associates, while Kohl's Corp. KSS will deploy over 69,000 workers nationwide, this holiday season. The recruiting plans of both retailers remain almost unchanged from last year.
Coming back to Macy’s, we believe its sustained focus on price optimization, inventory management, merchandise planning, and private label offering are the primary catalysts, facilitating in meeting customer-oriented demand and improving in-store shopping experience. In an attempt to increase sales, profitability and cash flows, the company has been taking steps such as integration of operations as well as developing e-commerce business and online order fulfillment centers.
Zacks Rank & Stocks to Consider
Macy’s currently has a Zacks Rank #2 (Buy). Another stock which warrants a look in this sector is J. C. Penney Company, Inc. JCP, which also holds the same rank as Macy’s. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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