Walmart Stores Inc.
) is geared to create jobs for the coming holiday season. It has
announced that it will hire almost 55,000 seasonal associates
this Christmas. This is 10% higher than what the retail giant
hired a year ago.
Walmart is set to manage the outburst of customer inflow into
its stores. To efficiently serve its customers, Walmart is also
converting 35,000 associates from temporary to part-time and
another 35,000 from part-time to full-time.
With declining same-store sales for the past few months,
retailers across the U.S. are looking forward to turn around this
holiday season. As quoted by
Centre Bancorp Inc.
), Deloitte forecasts a 4% - 4.5% gain in sales in the November -
January period. This is flat compared to the same period a year
Walmart is offering lucrative deals, lower prices and one-stop
shopping convenience to attract customers.
However, many other retailers are cautious and they have
reduced their hiring compared to the year-ago level.
) are hiring fewer employees than year-ago periods.
Walmart has been in favor of creating job opportunities for
quite some time. As part of this strategy, in Aug 2013, WMT
participated in the U.S. Manufacturing Summit along with nearly
500 suppliers and 1500 government officials to discuss
opportunities to accelerate manufacturing and employment
opportunities in the country. Together, they are expected to
invest more than $70 million for factory growth and creation of
more than 1,000 domestic jobs.
This initiative shows Walmart's dedication to find innovative
solutions to fix unemployment issues utilizing its leadership
position. Being the largest private employer in the U.S., Walmart
took an initiative in late-Jan 2013 to contribute to the
revitalization of the sluggish U.S. economy and intends to spend
$50 billion in the next 10 years to buy more American
Walmart currently carries a Zacks Rank #3 (Hold).
CENTER BANCORP (CNBC): Free Stock Analysis
KOHLS CORP (KSS): Free Stock Analysis Report
TARGET CORP (TGT): Free Stock Analysis Report
WAL-MART STORES (WMT): Free Stock Analysis
To read this article on Zacks.com click here.