U.S. discount retailer Target (TGT) has announced plans to hire 100,000 seasonal workers for the year-end holidays.
The seasonal hiring is in-line with what Target has done in each of the last three years, said the company in a news release.
Industry analysts closely watch the holiday hiring intentions of retailers for signs of health in the sector and expectations for consumer spending during the year-end holidays.
Many retailers generate half their annual sales, or more, during the period between Black Friday at the end of November and New Year’s in early January.
News of Target’s holiday hiring intentions comes as retail sales are expected to grow at their slowest pace in six years, according to a recent report from accounting firm Deloitte.
The report from Deloitte states that ongoing inflationary pressures have depleted consumer savings and led shoppers to be more frugal this year.
Also in recent days, Bath & Body Works (BBWI) said that it intends to hire about 30,000 seasonal workers for this year’s holidays.
The stock of Target has risen 27% over the past 12 months and currently trades at $151.36 U.S. per share.
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