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Christmas hiring spree: Should you buy these 3 FTSE 100 stocks
Highlights:
- UK retailers, supermarkets and others have started a massive hiring drive ahead of the Christmas season, amid staff shortage fears.
- Businesses are looking to hire about 100,000 seasonal workers during Christmas season.
Several retail companies, supermarkets and others are on a major hiring spree ahead of Christmas amid concerns of a staff shortage. Companies are seeking about 100,000 temporary workers for the season.
UK postal delivery firm Royal Mail (LON:RMG) is looking to hire about 20,000 temporary staff to aid in deliveries and other areas during the festive period. Supermarket major Tesco (LON:TSCO) has vacancies for 30,000 temporary workers, of which about 50 per cent positions have already been filled via contract extension of staff who were already hired during the pandemic.
Other companies which have recently announced their festival season hiring spree includes another UK supermarket giant Sainsbury’s (LON:SBRY), with a requirement of 22,000 seasonal workers. Also, department store John Lewis Partnership has announced plans to hire about 7,000 workers ahead of Christmas, while e-commerce giant Amazon aims to add 20,000 staff.
UK supermarkets Morrisons (LON:MRW) and Aldi have also recently announced their plans to hire about 3,000 and 1,500, staff respectively.
Let us take a closer look at 3 such FTSE 100 stocks that have been on a Christmas hiring spree:
- Tesco PLC (LON: TSCO)
Tesco is one of the biggest supermarkets in the UK and plans to hire the highest number of temporary staff, compared to the other companies.
The company reported its interim H1 2021 results recently, its group sales revenue was up by 2.6 per cent to £27,331 million, compared to £26,652 million in H1 2020.
Tesco’s operating profit jumped by 29.5 per cent to £1,304 million in H1 2021.
The group raised its FY 2021 adjusted retail operating profits target to a range of £2.5 billion and £2.6 billion due to its strong H1 performance.
(Image source: EODHD/Others)
Tesco’s shares were trading at GBX 276.10, up by 1.08 per cent on 8 October 2021 at 13:12 PM BST, while the FTSE 100 index was at 7,082.14, up by 0.06 per cent.
The company’s market cap stood at £21,119.16 million, and its one-year return was at 29.89 per cent as of 8 October 2021.
- Royal Mail PLC (LON: RMG)
Delivery company Royal Mail reported that its subsidiary General Logistics Systems (GLS) plans to acquire Canadian logistics company Mid-Nite Sun Transportation in a consideration worth up to CA$ 360.0 million in a debt and cash transaction.
The move will allow GLS to buy the Rosenau Transport thereby, giving GLS complete transport coverage in Canada.
(Image source: EODHD/Others)
Royal Mail’s shares were trading at GBX 411.90, down by 0.41 per cent on 8 October 2021 at 13:53 PM BST
The company’s market cap stood at £4,136.00 million, and its one-year return was at 65.42 per cent as of 8 October 2021.
- J Sainsbury PLC (LON: SBRY)
Sainsbury stated recently that it plans to offer up to an additional £500 to its new and existing drivers for completing their shifts over during the festive season.
14,500 of the total 22,000 seasonal workers will be hired to work in stores, while the 3,000 will be for online delivery drivers and 4,500 for staff in the warehouse and logistics segment.
(Image source: EODHD/Others)
Sainsbury’s shares were trading at GBX 294.90, up by 0.48 per cent on 8 October 2021 at 14:01 PM BST.
The company’s market cap stood at £6,845.61 million, and its one-year return was at 50.23 per cent as of 8 October 2021.
