Macy's (M) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Amazon (AMZN) intends to recruit an extra 250,000 employees for the upcoming holiday season, marking a significant 67% increase compared to previous years. Other retailers like Macy's (M) and Target (TGT) will also be expanding their holiday workforce. Despite inflation, Wall Street analysts are anticipating a return to more typical consumer spending patterns this year. Yahoo Finance's Josh Scahfer, Brooke DiPalma, and Pras Subramanian discuss various factors employers will be considering this season, including wage increases, labor unionization, and the challenges related to both recruiting and retaining employees.
Amazon said it plans to add 250,000 U.S. workers for the holiday shopping season, 67% more than the number of people it hired for the past two years, as it scrambles to expand next-day delivery for shoppers. Amazon's plans contrast with other U.S. retailers, who say they will hire fewer people in stores and warehouses this year on expectations for reduced consumer spending in 2023. Forecasters expect holiday sales to come in at half of last year's rate due to concerns about higher prices.