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Home Depot (HD) Prepares for Spring by Hiring 80K Workers

Zacks Equity Research
·3 min read

The Home Depot, Inc. HD started hiring associates for spring, which is its busiest season. Notably, it announced plans to hire 80,000 workers for full-time and part-time positions. Interested candidates may visit careers.homedepot.com for applying for suitable jobs.

According to sources, it recruited the same number of employees last year. Furthermore, Home Depot is likely to recruit 1,400 associates in Atlanta alone, driven by solid demand, per sources.

The part-time employees will be posted in Home Depot's garden center as it will enable them to be hands-on and help neighbors with their spring projects. Further, the company is looking to fill up positions related to overnight freight, merchandising, and other customer service in stores, warehouses and distribution centers. With 90% of the U.S. population living within 10 miles of a Home Depot store, these positions are lucrative opportunities for people looking to work close to their homes.

Further, the company will provide innovative training programs and tools, including a gamified mobile app, e-learning and on-the-job coaching. It will also offer employee benefits such as tuition reimbursement, backup dependent care for children and elders, and discounts on items such as cell phones and laptops. Also, employees will be eligible for paid family leaves after a year of service.

In early January 2020, Home Depot’s rival Lowe’s Companies LOW announced plans to hire 53,000 workers for the spring season. This indicated a decline from 67,400 employees it hired in last spring. Lowe’s earlier absorbed 50% of its part-time workers for permanent positions. Now, it is offering benefits as well as a quarterly bonus program.

Home Depot is well-positioned to gain from its leading position in the home improvement industry, driven by its endeavors as well as benefits it provides to employees. In fact, management anticipates sales of $115-$120 billion for fiscal 2020, indicating compounded annual sales growth of 4.5-6%.

Shares of the Zacks Rank #3 (Hold) company have rallied 28.2% in a year, outperforming the industry’s growth of 23.5%.

 

 

Stocks to Consider

DICK’S Sporting Goods DKS has an expected long-term earnings growth rate of 5.7%. It presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Costco Wholesale Corporation COST currently has a long-term earnings growth rate of 8.1% and a Zacks Rank #2 (Buy). 

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