(Reuters) – Macy’s Inc said on Friday said it had a strong start
to the holiday shopping season and would hire an additional 7,000
temporary workers in anticipation of the demand continuing
The department store operator had said in September it would hire
80,000 temporary workers for the holidays – compared with last
year’s 83,000 – of whom 18,000 would work in distribution centers
to fulfill online orders.
“Macy’s has had a great start to this holiday season with high
customer volume across our business,” John Harper, Macy’s chief
stores officer, said in a statement.
“Due to the strong traffic in our stores, we are adding
associates in our stores across the country.”
Macy’s shares were up about 1 percent in premarket trading. The
stock had risen a little more than 15 percent since Thanksgiving.
More than 174 million Americans shopped in stores and online
during the Thanksgiving–Cyber Monday holiday weekend, beating
expectations of 164 million, according to a survey by the NRF and
Prosper Insights & Analytics.
Online sales on Black Friday and Thanksgiving also surged to
record highs, heralding a promising start to the key holiday
season, according to retail analytics firms.
Analysts have called this holiday season a make or break time for
Macy’s, which has reported several quarters of falling sales as
it tries to overhaul its business and stem market share losses to
online rivals such as Amazon.com Inc .
Despite the recent jump in Macy’s stock, it is still down 33.5
percent so far this year.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio