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Dollar Tree (DLTR) Announces Hiring Plans for Holiday Season
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Dollar Tree, Inc. (DLTR - Free Report) revealed plans to recruit thousands of full and part-time associates for the upcoming holiday season through a Nationwide Hiring Event on Oct 19 from 11 am to 6 pm. The company will hire sales associates, customer service representatives, stockers, assistant store managers and store managers.
Hired employees will be offered competitive pay, a comprehensive rewards package and flexible schedules. Associates will also gain from DailyPay — a voluntary benefit wherein they can receive their earnings between traditional paydays.
Moving on, the company has an education assistance program called ValuED, which provides financial support and a wide range of development opportunities for upskilling. As part of this, full-time associates will be eligible for tuition discounts and reimbursement allowances for college degrees, GED programs and language courses.
Several other retailers have kicked off their hiring session for the holiday season through seasonal recruits that will improve customer shopping experiences. Retailers are increasingly focused on strengthening supply chains to avoid disruptions, which have been deterrents for a while.
We note that supermarket giant Walmart (WMT - Free Report) is leaving no stone unturned to leverage the upcoming holiday season. WMT unveiled plans to deploy 40,000 workers at more than 250 Walmart and Sam’s Club distribution centers, fulfillment centers, and transportation offices earlier this month.
The new positions include seasonal store associates, customer service associates and 1,500 full-time truck drivers. Walmart employed 150,000 associates during the 2021 holiday season.
Macy’s (M - Free Report) announced plans to recruit 41,000 associates ahead of the holiday shopping season. The new employees will be posted at Macy's, Bloomingdale's and Bluemercury, as well as its supply-chain locations and call centers.
This reflects a decline from last year when Macy’s hired 48,000 seasonal associates for the 2021 holiday season. M also noted that seasonal workers have the opportunity for seasonal workers to transit into permanent roles.
Kroger (KR - Free Report) recently unveiled its hiring plan for the current holiday season. KR is likely to recruit 1,500 associates for full and part-time positions for their North Texas stores.
Vacancies are available in all departments, including retail, e-commerce, manufacturing, supply chain, merchandising, logistics, corporate, pharmacy and healthcare. Kroger hired more than 20,000 associates through its nationwide hiring event for the 2021 holiday sale.
Coming back to DLTR, all is not good in the hood for the company. Dollar Tree has been witnessing inflationary pressures and consumers’ shifts toward lower-margin consumable products. Its second-quarter fiscal 2022 results reflected adverse impacts of freight expenses, markdowns, shrink and unfavorable product mix.
As a result, the company announced plans to make competitive pricing investments in the Family Dollar chain to improve store productivity and profitability in the long run. Going forward, management expects gross and operating margins for the Family Dollar segment to remain pressured mainly due to the aforementioned pricing factor.
The company estimates the mix shift to consumables to hurt Family Dollar by 300 basis points (bps). Driven by the accelerated price investment, it expects the Family Dollar segment to report a break-even operating margin in the second half, down from its first-half margin of 2%.
Higher SG&A expenses from elevated payroll, increase in repairs and maintenance expenses, and store facility costs remain concerning. In second-quarter fiscal 2022, SG&A expenses, as a percentage of sales, increased 100 bps to 24% due to higher repairs and maintenance costs, store payroll, stock compensation expenses, general insurance liability, utilities, and other inflationary pressures.
Consequently, Dollar Tree lowered the earnings per share view for fiscal 2022. Management envisions earnings of $7.10-$7.40 per share for fiscal 2022 compared with the prior stated $7.80-$8.20 per share. The company anticipates earnings of $1.05-$1.20 per share for the fiscal third quarter.
Image Source: Zacks Investment Research
We note that this Zacks Rank #5 (Strong Sell) stock plunged 14.6% in the past three months compared with the industry’s decline of 1.4%.
Image: Bigstock
Dollar Tree (DLTR) Announces Hiring Plans for Holiday Season
Dollar Tree, Inc. (DLTR - Free Report) revealed plans to recruit thousands of full and part-time associates for the upcoming holiday season through a Nationwide Hiring Event on Oct 19 from 11 am to 6 pm. The company will hire sales associates, customer service representatives, stockers, assistant store managers and store managers.
Hired employees will be offered competitive pay, a comprehensive rewards package and flexible schedules. Associates will also gain from DailyPay — a voluntary benefit wherein they can receive their earnings between traditional paydays.
Moving on, the company has an education assistance program called ValuED, which provides financial support and a wide range of development opportunities for upskilling. As part of this, full-time associates will be eligible for tuition discounts and reimbursement allowances for college degrees, GED programs and language courses.
Several other retailers have kicked off their hiring session for the holiday season through seasonal recruits that will improve customer shopping experiences. Retailers are increasingly focused on strengthening supply chains to avoid disruptions, which have been deterrents for a while.
We note that supermarket giant Walmart (WMT - Free Report) is leaving no stone unturned to leverage the upcoming holiday season. WMT unveiled plans to deploy 40,000 workers at more than 250 Walmart and Sam’s Club distribution centers, fulfillment centers, and transportation offices earlier this month.
The new positions include seasonal store associates, customer service associates and 1,500 full-time truck drivers. Walmart employed 150,000 associates during the 2021 holiday season.
Macy’s (M - Free Report) announced plans to recruit 41,000 associates ahead of the holiday shopping season. The new employees will be posted at Macy's, Bloomingdale's and Bluemercury, as well as its supply-chain locations and call centers.
This reflects a decline from last year when Macy’s hired 48,000 seasonal associates for the 2021 holiday season. M also noted that seasonal workers have the opportunity for seasonal workers to transit into permanent roles.
Kroger (KR - Free Report) recently unveiled its hiring plan for the current holiday season. KR is likely to recruit 1,500 associates for full and part-time positions for their North Texas stores.
Vacancies are available in all departments, including retail, e-commerce, manufacturing, supply chain, merchandising, logistics, corporate, pharmacy and healthcare. Kroger hired more than 20,000 associates through its nationwide hiring event for the 2021 holiday sale.
Coming back to DLTR, all is not good in the hood for the company. Dollar Tree has been witnessing inflationary pressures and consumers’ shifts toward lower-margin consumable products. Its second-quarter fiscal 2022 results reflected adverse impacts of freight expenses, markdowns, shrink and unfavorable product mix.
As a result, the company announced plans to make competitive pricing investments in the Family Dollar chain to improve store productivity and profitability in the long run. Going forward, management expects gross and operating margins for the Family Dollar segment to remain pressured mainly due to the aforementioned pricing factor.
The company estimates the mix shift to consumables to hurt Family Dollar by 300 basis points (bps). Driven by the accelerated price investment, it expects the Family Dollar segment to report a break-even operating margin in the second half, down from its first-half margin of 2%.
Higher SG&A expenses from elevated payroll, increase in repairs and maintenance expenses, and store facility costs remain concerning. In second-quarter fiscal 2022, SG&A expenses, as a percentage of sales, increased 100 bps to 24% due to higher repairs and maintenance costs, store payroll, stock compensation expenses, general insurance liability, utilities, and other inflationary pressures.
Consequently, Dollar Tree lowered the earnings per share view for fiscal 2022. Management envisions earnings of $7.10-$7.40 per share for fiscal 2022 compared with the prior stated $7.80-$8.20 per share. The company anticipates earnings of $1.05-$1.20 per share for the fiscal third quarter.
Image Source: Zacks Investment Research
We note that this Zacks Rank #5 (Strong Sell) stock plunged 14.6% in the past three months compared with the industry’s decline of 1.4%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.