Target Corp. (NYSE: TGT) saw its shares make a handy gain on Wednesday after the company announced its plans for hiring seasonal help. Although Target, like many other retailers, has had a rough 2017, the number of employees that it is taking on this holiday season seems incredibly bullish.
Excluding Wednesday’s move, the stock was down about 20% year to date. Over the past 52 weeks, the stock was down closer to 16%.
According to this mega-retailer, it plans to hire roughly 100,000 team members across the country for the upcoming holiday season. Last holiday season, Target announced that it would hire 70,000 extra workers. This is a 42.9% increase year over year.
Additionally, Target will hire 4,500 team members at the company’s distribution and fulfillment centers to replenish products to stores and fulfill digital sales throughout the season.
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The announcement is part of the company’s efforts to provide an exceptional shopping experience and ensures Target’s 1,816 stores will be staffed to deliver a seamless experience for guests this holiday season, whether team members are helping guests directly or fulfilling online orders.
Janna Potts, Chief Stores Officer of Target, commented:
Target has made significant investments in our business throughout 2017, and our commitment to hire 100,000 team members for the holidays will make shopping at Target even easier and more fun during one of the busiest times of the year. Target team members play such an important role in helping guests as they prepare to celebrate the holidays with their families. As always, we will provide our seasonal team members with meaningful opportunities to build and develop skills, and offer great benefits, including a variety of schedules and team member discounts.
Shares of Target were last seen up almost 3% at $59.50, with a consensus analyst price target of $58.90 and a 52-week range of $48.56 to $79.33.
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