Walmart to Add 150,000 Store Associates for Holiday Season

American multinational retail chain operator Walmart, Inc. (WMT) said it plans to hire 150,000 additional store associates for the upcoming holiday season and beyond. With a market cap of $391.62 billion, Walmart is one of the largest and most popular shopping outlets, offering a variety of products suiting everyone’s budget. Shares closed at $140.44 on September 29. (See Walmart stock charts on TipRanks)

With the holiday season around the corner, retailers are witnessing a surge in demand for both in-store and online shopping. To service this demand, Walmart has decided to hire around 150,000 associates nationwide, most of them being permanent, full-time positions, to provide customers a hassle-free shopping experience.

Commenting on the news, Julie Murphy, Chief People Officer at Walmart U.S., said, “We’re always looking to add great talent to our incredible team of dedicated associates – the everyday heroes who have been a constant force for good in their communities amidst the uncertainty of the past year. Before we know it, millions of customers will count on our team to help find those great gifts and holiday meals, and we’ll be ready.”

Over the past year, Walmart has increased wages three times, offered more full-time roles, and paid the college tuition for associates under their Live Better U program. The company also stated that it will offer extra working hours to associates over the holiday season.

Walmart offers a series of benefits to its associates, including advance schedules, competitive pay and promotion opportunities, on-the-job training sessions, affordable health insurance, and well-being benefits. The company also offers a 10% discount on merchandise and fresh food to associates and a chance to own Walmart stock through its associate stock purchase plan and stock ownership programs.

Last month, Morgan Stanley analyst Simeon Gutman reiterated a Buy rating on the stock with a price target of $170, implying 21.1% upside potential to current levels.

Gutman believes that Walmart’s newly launched GoLocal service will add additional revenue streams for the company, in addition to the already popular Walmart Connect (advertising), fintech, healthcare, Walmart+, and Walmart Fulfilment Services/Marketplace buildout.

Overall, the stock commands a Strong Buy consensus rating based on 17 Buys and 4 Holds. The average Walmart price target of $172.15 implies 22.6% upside potential to current levels. Shares have gained 3.4% over the past six months.

Furthermore, Walmart scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.