Macy’s knows something that most experts don’t. While many economic seers predict this year’s holiday sales will be at best lackluster, the retailing giant is adding more seasonal workers.
Ho Ho Ho!
Macy’s plans to hire 78,000 temporary workers. That’s 4% more than last year.
Macy’s stock rose 2% on the news. Investors apparently are anxious for someone with even a hint of a bullish attitude.
Then again, Macy’s has been one of the few bright spots on Wall Street this year. Its stock is up 13%.
That’s more than just a reward for rose colored glassed. It’s for performance. According to the WSJ, Macy’s 2nd quarter earning soared 64%. It has outdone competitors such as J.C. Penney’s and Kohl’s.
Now, I know the jobs aren’t career opportunities. Some may get offers of permanent employment come January, but most will not.
Still, it’s something. Macy’s is doing something right.
And in an economy that is teetering at the edge of a double-dip, (As in double-dip recession) I’ll take hope anywhere I can find it.