The first half retail sales numbers were anemic and so were back-to-school numbers. It has been assumed that a weakening economy would harm 2010 holiday sales as well.
Don’t tell that to Toys “R” Us. It announced that it will added 45,000 workers for the holidays.
The firm said it plans “to hire approximately 45,000 seasonal employees to staff its Toys“R”Us and Toys“R”Us Express pop-up stores in the U.S. this holiday season, essentially doubling its domestic workforce. This number is greater than the total workforce the company hired during each of the last three holiday shopping seasons due to the addition of 600 new Toys“R”Us Express stores. In previous holiday seasons, the company has hired approximately 35,000 toy-trained employees to help gift-givers find the RIGHT toy for the children on their lists this Christmas.”
The news should be positive for the entire retail sector, but particularly those which has large sections of their stores devoted to toys. This would include Walmart (NYSE: WMT), Macy’s (NYSE: M), and Target (NYSE: TGT).
The move is a gamble, but if it pays off, it positions Toys “R” Us for a planned IPO.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
