Wal-Mart to Hire 60000 Workers for Holiday Rush
Shares of Wal-Mart Stores Inc. appreciated by 0.55% during the last five trading days but lost 7.21% on a 4-week basis.
Shares of Wal-Mart Stores traded down 0.34% during trading on Wednesday, hitting $64.47. WMT has been the topic of several other research reports.
Ferreira told reporters in Brazil that the mining company will follow fellow mining company Glencore (GLCNF), which sold $2.5 billion in new stock, cut costs and ceased dividends to reduce its $30 billion debt by a third. Raymond James upgraded Wal-Mart Stores from an “outperform” rating to a “strong-buy” rating and set a $86.00 target price on the stock in a report on Monday, June 8th. The stock presently has an average rating of “Hold” and an average price target of $76.75.
Many analysts have commented on the company rating.
Although Wal-Mart will keep its temporary employment numbers this year unchanged compared to last year, the company is offering a better deal this season. The company’s 50-day moving average is $67.96 and its 200-day moving average is $74.74.
In order to fulfill customers’ expectations, the company will first offer additional hours to the current employees.
Implementing the new wages will cost Wal-Mart $1 billion, which include extra training for the store employees. The 52-week range of the stock remained $61.50 – $90.97 and today’s day range was $64.05 – $64.60. 2,270,292 shares of the company’s stock were exchanged. It plans to hire 90,000 to 95,000 seasonal employees which is about the same as past year to support the heavy volume of holiday packages. The firm last reported earnings per share of $1.08 for the quarter ending on 2015-07-31. Walmart worldwide operates retail, wholesale and other types of units, including restaurants and some banks. The Organization ‘s operations are conducted in three segments: Walmart USA, Walmart worldwide and Sam’s Club. During the fiscal year ended January 31, 2013 (fiscal 2013), its Walmart USA segment accounted for approximately 59% of its net sales and operated retail stores in various formats in all 50 states in the United States and Puerto Rico, as well as Walmart’s online retail operations, walmart.com. The Sam’s Club consists of membership- warehouse clubs and operates in 48 states in the U.S. and in Puerto Rico, along with digital retail.