The Home Depot, Inc. HD seems to be on its toes to make the most of the spring season, its busiest selling period, with plans to employ more than 5,500 workers at its stores in Canada. The hiring will take place for available seasonal, part-time and full-time positions for overnight workers, sales associates, lot associates, cashiers, specialty workers and department supervisors.
The company offers more than one million hours of innovative training programs each year to help associates work quickly and efficiently.
Spring season hiring is customary for this home improvement biggie as the onset of warmer weather brings people out of their homes, concentrating on gardening, lawns and other home improvement outdoor projects. Consequently, the demand for garden and lawn equipment, portico furniture and other home décor-related products are usually at its peak during this season.
Coming back to hiring, the company recently announced plans to hire 80,000 workers for full-time and part-time positions. According to sources, it recruited the same number of employees last year. Furthermore, Home Depot is likely to recruit 1,400 associates in Atlanta alone, driven by solid demand, per sources.
In early January 2020, Home Depot’s rival Lowe’s Companies LOW announced plans to hire 53,000 workers for the spring season. This indicated a decline from 67,400 employees it hired in last spring. Lowe’s earlier absorbed 50% of its part-time workers for permanent positions. Now, it is offering benefits as well as a quarterly bonus program.
Home Depot is well-positioned to gain from its leading position in the home improvement industry, driven by endeavors as well as benefits it provide to employees. In fact, management anticipates sales of $115-$120 billion for fiscal 2020, indicating compounded annual sales growth of 4.5-6%.
The company is witnessing significant benefits from the execution of its “One Home Depot” investment plan, focused on delivering an interconnected shopping experience to customers. Additionally, Home Depot’s Pro segment is a key growth driver, with Pro sales outpacing DIY (do-it-yourself) sales for the past several quarters. The Pro segment is gaining from the company’s efforts to simplify the Pro shopping experience and expand engagement through services like tool rental, delivery and the new B2B online experience.
On the digital front, the company is investing in its website and other applications to further enhance online customer experience. It is witnessing higher traffic, better conversion and continued sales growth in the digital business through improved search capabilities, site functionality, category presentation and product content.
We note that shares of this Zacks #3 (Hold) company have increased 11.7% so far in this year, outperforming the industry’s growth of 9.6%.
Stocks to Consider
Builders FirstSource, Inc. BLDR delivered positive earnings surprise of 28.2%, on average, in the trailing four quarters. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BMC Stock Holdings, Inc. BMCH delivered positive earnings surprise of 29.3%, on average, in the trailing four quarters. It carries a Zacks Rank #2.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one
to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>
The Home Depot, Inc. (HD) : Free Stock Analysis Report
Lowe’s Companies, Inc. (LOW) : Free Stock Analysis Report
Builders FirstSource, Inc. (BLDR) : Free Stock Analysis Report
BMC Stock Holdings, Inc. (BMCH) : Free Stock Analysis Report
To read this article on Zacks.com click here.