Actionable news
0
All posts from Actionable news
Actionable news in M: MACY'S Inc,

How Does Amazon's Holiday Hiring Stack Up Against Brick-And-Mortar Stores' Hirings?

How Does Amazon's Holiday Hiring Stack Up Against Brick-And-Mortar Stores' Hiring Figures?

The holiday cheer is spreading, with retailers, both online and those operating predominantly through brick-and-mortar stores, vying with each other in announcing their efforts at making this holiday season their best ever.

Vibrant Consumer

The expectations are not far-fetched. U.S. consumers are on a buying binge. Despite the fragile global economic conditions fraught with economic and geopolitical risks, U.S. consumers have not tightened their purse strings. Consumer spending accounting for two-thirds of the economic activity saw a strong 1.4 percent sequential gain, according to final second quarter GDP estimates released by the Commerce Department in late September.

Jobs and wages, the primary drivers behind spending, have also been positive.

Amazon's 120,000 Seasonal Hires

Amazon.com, Inc. AMZN 0.58% announced earlier Thursday that it is hiring 120,000 seasonal or part-time employees across its U.S. network of fulfillment centers, sortation centers and customer service sites this holiday season. This represents an improvement from the 100,000 hired in 2015.

Adding to the cheer, is the company's assertion that it is looking to increase the number of seasonal employees it transitions to regular full time roles after the holidays this season from 14,000 last year.

Brick-And-Mortar Stores Cautious But Not Far Behind

  • Target Corporation TGT 0.29% said in early September that it is hiring 70,000 seasonal workers, although it represented a no growth from 2015. Target lowered its sales target for the second half of the year after reporting declines in sales and earnings for the second quarter.

The statistics reveal that retailers are proceeding with optimism laced with caution as they approach the holiday selling season, which rings in roughly 20 to 30 percent of the annual sales.

At the time of writing, Amazon shares were down 1.15 percent at $824.51.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.