Home Depot Ramps Up Hiring To Benefit From Spring Season

The Home Depot, Inc. (NYSE:HD) announced plans to hire 80,000 workers in its stores and distribution centers in a bid to make the most of the spring season, which is the key selling period for home improvement retailers. Notably, the company will carry out the recruitment process via the modern hiring technology developed by its in-house engineers.

The hiring will take place for available seasonal, part-time and full-time positions across the company’s roughly 2,000 U.S. stores as well as more than 100 distribution centers. The vacancies will include various departments like overnight freight, garden, customer service as well as merchandising in its stores and distribution centers.

Earlier this year, Home Depot announced plans to hire about 450 employees in the Charlotte area stores, per sources. The company operates nearly 13 stores in that area. This hiring follows the company’s announcement to take aboard 700 people in the Tampa Bay area over the next few months.

Technology plays a significant role for Home Depot when it comes to hiring associates. As a result, the company heavily invests in technology for a convenient and faster recruitment process. Evidently, last spring, the company rolled out the Candidate Self Service, a 24/7 homegrown technology, which allows job seekers to self-schedule in-person interviews and select the most suitable interview appointment available after completion of the applications. Impressively, roughly one million candidates have used the aforementioned technology since its roll out.

Home Depot, being a home improvement retailer, is likely to gain from its busiest selling period as customers usually shop their gardens, lawns and homes related-products during this season. Another home-improvement retailer, Lowe's Companies, Inc. (NYSE:LOW) also announced its second National Hiring Day in February to hire above 50,000 full-time, part-time and seasonal employees for over 1,700 U.S. stores.

A glance at this Zacks Rank #3 (Hold) company's price performance shows that it has gained 6.5% compared with its industry’s 9.2% growth in the past three months.

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Beacon Roofing Supply, Inc. (NASDAQ:BECN) has an impressive long-term earnings growth rate of 21% and a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Fastenal Company (NASDAQ:FAST) , also a Zacks Rank #2 stock, has a long-term earnings growth rate of 16%.

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