Target ups holiday hiring by 40%

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Target revealed last month that online sales jumped 32 percent during the second quarter.

The popular store announced Wednesday it will hire about 100,000 seasonal team members across the nation, and another 4,500 people for its distribution and fulfillment centers.

Target Corp. announced a major investment for the holiday shopping season.

Target's increased store staffing looks to be aimed at preventing loss of sales from customers walking out because of busy checkout lanes or lack of assistance while making purchases, Moody's analyst Charlie O'Shea said.

Last week, Target said last week that it would slash prices on cereal, paper towels and thousands of other items. Shares have traded down almost 20% since the start of 2017.

Target's 2017 holiday hiring marks a significant increase from a year ago, when the retailer hired 70,000 employees.

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"Although we have seen high layoffs in retail with store closings and some companies filing for bankruptcy, there has also been increased hiring in new areas of the sector as retailers build out their e-commerce platforms", said Challenger.

Moody's O'Shea, however, said he expects retailers looking to cut costs to hire more temporary workers during the holiday season.

In 2016, Target brought on 77,500 temporary workers.

The benefits that Target is offering those that take seasonal jobs this year include two sets of discounts.

Target announced on Wednesday that it will hire approximately 100,000 workers in its 1,816 USA stores, plus another 4,500 for its distribution centers and fulfillment facilities, according to a company blog post.

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