VanEck and Kinross Both Have Their Eyes on This U.S. Gold Play

When a global fund manager and a $12B miner target the same domestic project, investors notice. Strategic deals and breakthrough drill results are fueling a surge of interest in this U.S. name.

Amazon, Target and other retailers are ramping up hiring for the holiday shopping season

HALELUYA HADERO
October 03, 2024

Retailers are ramping up hiring for the holiday season, but fewer seasonal employees are expected to be taken on this year to help customers in stores and assemble online orders in warehouses.

E-commerce giant Amazon said Thursday it will hire 250,000 full, part-time and seasonal workers for the crucial shopping period, rounding out a series of announcements made in recent weeks by the country's top retailers.

Amazon is hiring the same number of employees it did last year, similar to Bath & Body Works and Target, which said in September it will bring in roughly 100,000 seasonal employees and offer current employees the option to work extra hours during the holiday shopping period.

Meanwhile, the department store Kohl's encouraged people to apply for positions but stayed mum on its plans, mirroring Walmart, which said it's been hiring store associates throughout the year and will tap into its own staff when needed during the busy season.

Others have indicated they will scale back their hiring. Macy's said it will add more than 31,500 seasonal positions this year across its Macy's, Bloomingdale's and Bluemercury stores, as well as its distribution centers. Last year, the company added 38,000.

The holiday shopping period is the busiest time of year for online and brick-and-mortar retailers, some of which have already announced discount events to entice consumers planning to shop early for gifts.

The consulting firm Deloitte forecasts U.S. retail sales will increase between 2.3% to 3.3% during the November to January timeframe and reach a total of $1.59 trillion. EY-Parthenon, the consulting arm of Ernst & Young, forecasts a similar 3% jump in sales during the traditional November-December period. However, it says price increases due to inflation are likely to account for a big chunk of that growth, noting real volume sales will only rise 0.5% year-over-year.

Online sales, a growing segment of retail, is expected to increase 8.4% and reach a record $240.8 billion, according to Adobe, which tracks e-commerce transactions.

"At the moment, retailers appear optimistic for a strong holiday shopping season, which is being reflected in the hiring plans of major retailers and warehouses," said Andy Challenger, senior vice president at the outplacement firm Challenger, Gray & Christmas.

Overall, U.S. retailers are expected to add 520,000 new jobs in the final quarter of this year compared to 564,200 in 2023, according to a report released last month by Challenger, Gray & Christmas. The firm, which analyzes non-seasonally adjusted data from the Bureau of Labor Statistics, says that's more than the 509,300 seasonal jobs retailers added in 2022. But it represents the second-lowest total since 2009.

Generally, the labor market has gradually lost momentum since the Federal Reserve hiked its benchmark interest rate numerous times in 2022 and 2023 to combat high inflation. Last month, the Fed cut its key rate for the first time in more than four years. It reflected its new focus on bolstering the job market, which saw positive signs this week when data from the Labor Department showed job openings rose unexpectedly in August.

But the retail industry may encounter challenges filing openings in the coming weeks and months "due to the demands of the job and pay," Challenger said.

To scoop up employees, companies like Macy's and JCPenney as well as sporting goods stores Bass Pro Shops and Cabela's are recruiting workers through nationwide hiring events. Macy's had said it would offer on-the-spot interviews during its first event, which took place last week in its stores and warehouses. The company plans to hold three more events this year.

"We are finding strong application flow," said Macy's, adding nearly a third of its recent hires are employees who've previously worked at the company.

Amid the growth in online shopping, the delivery giant UPS is planning to hire 125,000 seasonal workers for the holiday rush, up from 100,000 last year.

Radial, an e-commerce company that powers deliveries for brands like Calvin Klein and Express, says it will hire fewer people but also plans to scale its staff based on real-time demand. That approach allows the company to meet customers' needs "without overcommitting," said Billy Peterson, a senior vice president at Radial.

On the buyer side, consumers have been resilient with their spending while also showing signs of stress, with credit-card debt rising and savings rates falling, trends that could weigh on spending in future months.

Retail sales ticked up from July to August, after jumping the most in a year and a half the previous month. At the same time, consumers have been more prudent about their purchases and pushing back against high prices by trading down to store brands or seeking out deals for products.

However, holiday shoppers could see even higher prices on products if a port workers' strike that has shut down all the major dockyards on the Eastern seaboard of the U.S. and the Gulf coast persists for more than a month.

Continue Reading...

Popular

Move Over, Musk—The World's Richest Woman Joined the $100B Club

Alice Walton, daughter of Walmart founder Sam Walton, is the richest woman in the world worth more than $100 billion.

Dave Ramsey Doesn't Mess Around With Bitcoin Or Gold, Says 'I Have Three Investments' — Here's What They Are

Personal finance expert Dave Ramsey has long dismissed crypto, gold and single-stock investing, calling them risky distractions — but new research shows that his disciplined mutual fund approach may have cost him market-beating returns.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Tim Cook To Depart, Steve Jobs' Lesson For Guy Kawasaki And More: This Week In Appleverse

From executive shake-ups at Apple to TSMC's revenue surge and Goldman's take on the AI boom, here are the top Apple stories.

November 18: D-Day For The Dollar - Ad

A quiet shift in U.S. law has just authorized private companies to mint a new form of government-authorized money called the "Dollar 2.0"... and the next major mint hits on November 18. Investors who make the right moves before then could make up to 40X by 2032...

US takes a minority stake company operating one of world's largest lithium mines in Nevada

The U.S. government is taking a minority stake in Lithium Americas, a company that is developing one of the world’s in northern Nevada.

Jeff Bezos-Backed Anthropic Projects To Nearly Triple Revenues By 2026: Report

Anthropic, the artificial intelligence (AI) startup, backed by Alphabet's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google and Amazon.com (NASDAQ: AMZN), is reportedly projecting to more than double and potentially nearly triple its annualized revenue run rate next year.

Buy This Stock Before Optimus Goes Live - Ad

Get ready for the biggest pivot in corporate history. Tesla insiders are preparing for a dramatic new product launch - not driverless cars - that could change everything. You're running out of time to prepare.

Nebius Vs. Palantir: The AI Infrastructure War At 100x Sales

Wall Street's AI mania has sparked a battle between Nebius (NBIS) and Palantir (PLTR) as investors question where the true value of AI lies.

Trump Ally Laura Loomer Turns on Him Over Qatar Military Base Plan, Calls It a 'Betrayal'

Laura Loomer, a staunch supporter of President Donald Trump, has voiced her dissatisfaction with the president's decision to permit a Qatari air force facility in Idaho.

On October 16, a powerful new law signed by President Trump will trigger a radical shift in America's money system... - Ad

When a small group of private companies - not the Fed - will perform a major mint of a new kind of money. And those who act before this new system fully kicks in could see gains as high as 40X by 2032. But those who fail to prepare will be blindsided by this sea change to the U.S. dollar.

Trump approves Alaska mining road to boost copper, zinc production

WASHINGTON (AP) — President Donald Trump on Monday ordered approval of a proposed 211-mile road through an Alaska wilderness to allow mining of copper, cobalt, gold and other minerals.

Journalists turn in access badges, exit Pentagon rather than agree to new reporting rules

WASHINGTON (AP) — Dozens of reporters turned in access badges and exited the Pentagon on Wednesday rather than agree to government-imposed , pushing journalists who cover the American military further from the seat of its power. The U.S. government has called the new rules “common sense.”

Buy This Stock Before Tesla's November 6 Announcement - Ad

Elon Musk just made his biggest insider purchase of Tesla stock ever. He's preparing for a "mind blowing" new launch that could see Tesla move away from electric cars... and into a new market. If his plan succeeds, this is the stock to own.

Indiana University fires student newspaper adviser who refused to block news stories

Tension between Indiana University and its student newspaper flared this week with the elimination of the outlet's print editions and the firing of a faculty adviser, who refused an order to keep news stories out of a homecoming edition.

Silver Nears $50 Amid Inventory Crisis, Outpacing Gold

Silver prices closed last week at multi-year highs, coming within reach of their 2011 peak of $49.95 per ounce.

Gold's Rally Is Rewriting America's Financial Story - Ad

As inflation lingers and governments wobble, gold keeps breaking records - and U.S. supply is suddenly back in focus. One domestic gold play is riding this trend on multiple fronts.

Trump suggests US will buy Argentinian beef to bring down prices for American consumers

ABOARD AIR FORCE ONE (AP) — President said Sunday that the United States could purchase Argentinian beef in an attempt to bring down prices for American consumers.

Hungary clings to Russian oil and gas as EU and NATO push to cut supplies

BUDAPEST, Hungary (AP) — As the European Union pushes to fully sever its reliance on Russian energy and the administration of U.S. President Donald Trump urges NATO members to abandon Russian oil, one country's populist government stands firm.

This Coin Could Be Like Buying Bitcoin in 2017 - Ad

One of Bitcoin's biggest supporters on Wall Street is moving away from Bitcoin and into this special crypto. He even called this new coin, "the preferred choice for Wall Street."

Magnolia Oil & Gas Gets Upgrade On Strong Finances, Brighter Oil Outlook

KeyBanc raised Magnolia Oil & Gas to Overweight with a $29 target, citing a defensive profile and disciplined growth outlook.

America's Next Gold Rush Is Gaining Speed - Ad

Record gold prices. Major partners in Nevada and Arizona. Billions in potential resources. The next chapter in America's gold story may already be unfolding - and one U.S. company is at the center of it.

Ondas Holdings Stock Is Hitting New 52-Week Highs Today: Here's Why

Shares of Ondas Holdings Inc. (NASDAQ: ONDS) are soaring Thursday after the autonomous drone infrastructure company said it placed a significant purchase order.

Slovak leader announces a deal with US on a new nuclear reactor

BRATISLAVA, Slovakia (AP) — Slovakia’s populist Prime Minister Robert Fico said Tuesday his government has approved an agreement with the United States to build an additional nuclear reactor.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as October 23rd.

Trump's immigration crackdown weighs heavy on the US labor market

Maria worked cleaning schools in Florida for $13 an hour. Every two weeks, she’d get a $900 paycheck from her employer, a contractor. Not much — but enough to cover rent in the house that she and her 11-year-old son share with five families, plus electricity, a cellphone and groceries.

From Spice Girl to fashion mogul, Victoria Beckham grabs the chance to tell her own tale

NEW YORK (AP) — Now here’s something you might not quite believe glam Spice Girl turned high-profile fashion designer: At theater school, they purposely put her in the back row. Because she was too heavy.

VanEck and Kinross Both Have Their Eyes on This U.S. Gold Play - Ad

When a global fund manager and a $12B miner target the same domestic project, investors notice. Strategic deals and breakthrough drill results are fueling a surge of interest in this U.S. name.

Faulty engineering led to implosion of Titan submersible headed to Titanic wreckage, NTSB finds

PORTLAND, Maine (AP) — Faulty engineering led to the implosion of an experimental submersible that killed five people on the way to the wreck of the , the National Transportation Safety Board concluded in a report Wednesday.

Jensen Huang Says Nvidia Went From 95% Market Share To 0% In China: 'I Think It's A Mistake For US Not To...'

Nvidia CEO Jensen Huang said the company's China market share has plunged from 95% to zero due to U.S. export restrictions, calling it a policy mistake that risks ceding one of the world's largest AI markets to domestic Chinese rivals.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

What's Behind The Sharp 39% After-Hours Rally In Telomir Pharmaceuticals?

Telomir's stock jumped nearly 39% in after-hours trading following news that its lead compound, Telomir-1, showed potential in reversing cancer-related DNA changes in aggressive prostate cancer models.

Bitcoin Steadies Above $110,000 As Ethereum, XRP, Dogecoin Slip On Thursday

Bitcoin is holding steady around $110,000 despite $94 million in net outflows from spot BTC ETFs on Wednesday.

November 18: D-Day For The Dollar - Ad

A quiet shift in U.S. law has just authorized private companies to mint a new form of government-authorized money called the "Dollar 2.0"... and the next major mint hits on November 18. Investors who make the right moves before then could make up to 40X by 2032...

New study adds to the possibility of favorable conditions for life at Saturn's moon Enceladus

CAPE CANAVERAL, Fla. (AP) — Scientists have uncovered new types of organics in icy geysers spouting from , bolstering the likelihood that the may harbor conditions suitable for life.

Nvidia Reportedly Bets $2 Billion On Elon Musk's xAI — And Its Own GPUs Will Fuel 'Colossus 2' Gigawatt-Scale AI Supercluster

Nvidia Corp., led by Jensen Huang, is reportedly investing up to $2 billion in Elon Musk's xAI as part of a $20 billion funding round to expand the company's Colossus 2 AI data center in Memphis, deepening ties between two of the most influential players in the global AI race.

Buy This Stock Before Optimus Goes Live - Ad

Get ready for the biggest pivot in corporate history. Tesla insiders are preparing for a dramatic new product launch - not driverless cars - that could change everything. You're running out of time to prepare.

Can a Taxable Account Beat a 401(k)?

Being advised to max out your 401(k)is Personal Finance 101. But is that universally solid guidance?

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service