Macy's (M) Prepares for Holiday Season, Unveils Hiring Plan
Macy's, Inc. M is taking strides to ensure a delightful shopping experience as it announces the commencement of seasonal hiring for the 2023 holiday season. As the festive season draws near, Macy's is gearing up to cater to the heightened shopping frenzy by bringing on board more than 38,000 full and part-time seasonal associates across its Macy’s, Bloomingdale’s and Bluemercury stores, along with its distribution centers.
The significance of the holiday season for retailers cannot be overstated. This period marks a crucial juncture, often accounting for a substantial portion of annual sales. The influx of enthusiastic shoppers provides retailers with the opportunity to showcase their offerings, boost revenues and solidify brand loyalty. Retailers leverage this period to not only maximize sales but also leave an indelible impression on consumers.
To cater to prospective candidates, Macy's offers a streamlined online application process, which takes as little as five minutes, with most job offers extended within 48 hours. In addition, the company is hosting nationwide in-person holiday hiring events on Sep 21 and Oct 19, providing convenient opportunities for potential hires.
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One of the standout features of Macy's hiring initiative is its commitment to competitive compensation. Many positions start at a minimum of $15 per hour, ensuring that seasonal workers are fairly rewarded for their efforts. Furthermore, employees can enjoy instant access to earned wages and flexible scheduling options that accommodate their availability.
Macy's also values its employees' contributions and offers merchandise discounts as well as enticing referral bonuses of up to $500 for every successful recruit. With various incentive programs in place, colleagues have the chance to earn additional income during the holiday season.
Wrapping Up
Macy's strategic move to bolster its workforce for the upcoming holiday season not only ensures smooth operations but also underscores the pivotal role this period plays in the retail landscape.
However, market analysts are skeptical about whether the upcoming holiday season will meet retailers' expectations. They believe that cautious consumer spending, influenced by diminishing household savings and ongoing economic uncertainties, could potentially hinder the season's performance.
Shares of this Zacks Rank #4 (Sell) company have fallen 31.9% in the past three months compared with the industry’s decline of 11.8%.
3 Stocks Hogging in the Limelight
Here we have highlighted some better-ranked stocks, namely Boot Barn Holdings BOOT, Ross Stores ROST and Walmart WMT.
Boot Barn Holdings, a leading lifestyle retailer of western and work-related footwear, apparel and accessories, currently sports a Zacks Rank #1 (Strong Buy). The expected EPS growth rate for three to five years is 6.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Boot Barn Holdings’ current financial-year sales suggests growth of 7.8%, respectively, from the year-ago reported numbers. BOOT has a trailing four-quarter earnings surprise of 13.5%, on average.
Ross Stores, which operates off-price retail apparel and home fashion stores, currently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 11.6%.
The Zacks Consensus Estimate for Ross Stores’ current financial-year sales and earnings indicates growth of 8.1% and 19.4%, respectively, from the year-ago reported numbers. ROST has a trailing four-quarter earnings surprise of 11.4%, on average.
Walmart, which operates a chain of hypermarkets, discount department stores and grocery stores, currently carries a Zacks Rank #2. The expected EPS growth rate for three to five years is 6.6%.
The Zacks Consensus Estimate for Walmart’s current financial-year sales and earnings implies growth of 9.2% and 2.2%, respectively, from the year-ago reported numbers. WMT has a trailing four-quarter earnings surprise of 11.6%, on average.
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