Walmart plans cautious holiday hiring amid slowing U.S. economy
Walmart Inc sounded a cautious note about holiday retail sales on Wednesday, planning to hire fewer workers than last year as it prepares for the critical season in the middle of a slowing economy.
The largest U.S. retailer announced plans to add 40,000 workers in seasonal and full-time roles in a blog post by Maren Waggoner, senior vice president of field people for Walmart (NYSE:WMT) U.S.
Walmart in September 2021 said it would hire 150,000 workers. While this included some seasonal staff, those hires were mostly in full-time, year-round positions to cover COVID-19 absences. That led to overstaffing that dented Walmart’s profits in the first quarter of 2022.
This year’s hiring is expected to bolster the company’s online business and its in-store, delivery and pickup operations ahead of what is expected to be a subdued holiday shopping season. U.S. retailers face inflation, higher interest rates, a tight job market and supply chain snarls.
Walmart’s new workers this year will include seasonal U.S. store associates, truck drivers in full-time positions and service staff at call centers, Waggoner said.
WALMART STORES Technical Analysis: Daily Chart
In the daily charts, WALMART STORES is trading in an up channel. WALMART STORES is currently trading above all SMA.
RSI is in selling zone which indicates bearishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 133.94 & the resistance level is at 135.90.
WALMART STORES will trade in an up channel until there is trend reversal.
How to Trade WALMART STORES this Week:
WALMART STORES will follow the uptrend until their trend reversal. So, remain bullish on WALMART STORES.