Shares of Macy’s Inc. rose 0.8% in premarket trade Friday, after the department store chain said it plans to hire an additional 7,000 seasonal employees for its Macy’s stores during the holiday season, following what it said was a “great start” to the season. Macy’s had previously said it would hire 80,000 seasonal workers, which was down from 83,000 a year ago. “Due to the strong traffic in our stores, we are adding associates in our stores across the country to ensure that customers continue to receive the high level of service they have come to expect from us,” said Chief Stores Officer John Harper. “We are excited to be further expanding our seasonal workforce.” Macy’s stock has tumbled 34% year to date through Thursday, but had climbed 11% over the past three months. In comparison, the SPDR S&P Retail ETF has rallied 10% over the past three months and the S&P 500 has gained 6.9%.
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