Target to hire 100,000 workers for holiday season

Target said on Monday it would employ about 100,000 seasonal workers, in line with the last three years of holiday hiring, as the retailer gears up for the all-important shopping period.

Holiday retail sales are expected to grow at their slowest pace in six years, according to data from Deloitte, as persistent inflationary pressures have exhausted consumer savings and turned shoppers more frugal.

The holiday shopping season accounts for more than half of US retailers' annual revenue. To lure in buyers, Target also said on Monday it would introduce more affordable holiday items and bring back its partnership with British retailer Marks & Spencer.

The retailer said the seasonal hires were for its stores and supply chain facilities, with majority of them working at its stores.

With customers expected to begin their holiday shopping early while looking for additional discounts in categories ranging from groceries to homegoods, retailers in the United States have been launching discounts and beefing up promotions.

Target also announced that its Target Circle week will start from Oct. 6, a week later compared to the last year.

Lat month, Target raised its full-year profit forecast after reporting upbeat quarterly comparable sales, betting on its price cuts that helped in lifting demand at its stores.

Bath & Body Works BBWI.N said last week that it will hire 30,000 seasonal workers for theholiday season.