About 821,000 workers will be hired for retail seasonal jobs this year, up 11 percent from a year ago and the highest since records were started in 1990, estimates Michael Niemira, founder of economic forecasting firm The Retail Economist LLC.
After blaming the Polar Vortex’s chill for sluggish results last winter, U.S. retailers now say warm temperatures in October hurt sales of boots and sweaters. Some retail analysts aren’t buying it.
Kohl’s Corp., the third-largest U.S. retailer, fell in extended trading after saying annual profit will be at the lower end of its forecast, hurt by a sales slowdown toward the end of its third quarter.
BoF compiles the most important professional moves of the week.
NEW YORK, United States — Shoppers last month continued to pinch their pennies, seeking out bargains and paying fewer visits to stores. They also were unnerved by slumping stock markets and impeded from shopping by an unusually cold and snowy January that, because of high heating bills, could hurt retail sales well into the spring, analysts said.