(AOF) – The American discounter Target has announced that it plans to hire a maximum of 100,000 seasonal workers for the end-of-year holiday period and wants to bring forward the launch of its promotional offers from the first week of October in a context of economic slowdown. The group is preparing for the biggest Target Deal Days event ever – with hundreds of thousands of “exceptional” deals from October 6-8.
“The holiday season is a treasured time when our customers come together with family and friends to celebrate the joy of the season, and we’re here to make it easy for them,” said Christina Hennington, vice president Executive and Chief Growth Officer, Target.
The group recently saw its quarterly profit fall by almost 90%, after carrying out a massive price reduction to attract buyers.
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big concerns
According to the Federation of specialized trade, Procos, activity from January to May is very significantly down compared to the same period in 2019, at – 8.8%. Store traffic in May 2022 remained lower than in May 2019, but the decline was limited to 6.5%, much better than in April (-19.6% compared to April 2019). In a very uncertain context, several elements weigh on the profitability of companies, in particular the increase in the cost of electricity and the indexation of rents, even if the composition of the ILC (commercial rent index) has been modified. Previously it was composed of 50% inflation, 25% construction cost index and 25% change in retail turnover. From now on, it will only take into account inflation and the cost of construction because the previous formula included sales made by the ‘pure players’ of the Net, which increased the rents of physical stores.