Retailers gearing up for holidays

Retail SPDR ETF rallies on hiring

Book ’em, Danno!

Amazon announced on Tuesday will hire 50,000 temporary workers at order-fulfillment centers across the U.S. this holiday season. That’s more than double the 20,000 full-time workers that Amazon usually has manning its 40 fulfillment centers around the U.S. What’s more, many of the seasonal employees may end up joining the permanent Amazon workforce, in which many are paid 30% more than traditional retail workers, the company said.

Each year, retailers boost their ranks to handle the swell in demand from shoppers who swarm into aisles on Black Friday and stay through Christmas. Macy’s (M) recently said it will enlist 80,000 seasonal workers, up 2.5% from last year. Wal-Mart (WMT) will pick up 50,000 associates, Target (TGT) will hire up to 90,000 and Kohl’s (KSS) said its temporary holiday workforce will boom 10% from last year to 52,700 workers. Overall, the National Retail Federation estimates that American retailers will hire up to 625,000 temporary employees for the holidays.

SPDR Retail ETF (XRT : NYSE : US$63.04), Net Change: 0.47, % Change: 0.75%, Volume: 3,289,250

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