The world’s largest home improvement retailer Home Depot Inc. (HD) is warming up for the spring season. The company recently announced plans to hire more than 70,000 temporary employees, level with last year’s seasonal hiring.
In 2011, the company had plans to hire around 60,000 people but finally employed 10,000 more. Though hiring for the spring season is temporary, the company pointed out that about half of people hired in 2011 were retained with permanent positions.
Home Depot, like every home improvement company, hires seasonally every spring time to make the best of its busiest selling season. During spring, home improvement companies roll out sales offers on shrubs, lawn care products, fertilizers and other gardening products, grills and patio furniture for better results than their rivals.
This year, Home Depot plans to start hiring a month in advance to beat competition from its closest peers Lowe’s Companies Inc. (LOW) and Wal-Mart Inc. (WMT). Starting early will also give the company to hire the competitive advantage of having the best employees for the busiest season. The company plans to begin hiring in February.
The top home improvement company, Home Depot Inc., with 2,252 retail stores across the globe, offers a diverse range of branded and proprietary home improvement items, building materials, lawn and garden products, and related services. Currently, the company employs more than 300,000 associates.
Home Depot currently has a Zacks #2 Rank, implying a short-term Buy rating. Besides, we continue to have a long-term ‘Neutral’ recommendation on the stock.
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