What Slowdown? Target Just Signaled This Holiday Season Will Be Huge
October is right around the corner, and that means holiday shopping season is already gearing up. Target (NYSE: TGT) is launching its first holiday shopping event Oct. 6, and it plans to hire a lot of new employees to get it through the extended holiday season.
The big-box retailer said it'll onboard 100,000 new workers for its stores and fulfillment centers, the same amount it hired at the end of 2021. The aggressive push adds more risk to Target's third- and fourth-quarter results, after profits took a massive hit from stores clearing out stale inventory in the second quarter.
Target's plans to hire 100,000 seasonal workers fly in the face of the messaging conveyed by its biggest rivals. Walmart (NYSE: WMT) announced its plans to hire 40,000 seasonal workers, down from 150,000 last year. Meanwhile, Amazon (NASDAQ: AMZN) is shuttering warehouses and canceling plans for new ones as it aims to right-size its logistics network.
Source Fool.com
