My summation based on several regional-level conversations and meetings...
Our strategy for Q4 will be different. It is confirmed that payroll will only have a modest increase compared to other years. Those of you who are part time will not get a huge boost of hours.
Our seasonal hiring strategy was for two things, all the vacancies opening up in the stores and 2) warm bodies to fill roles in the event of an absence. Extra people assisting customers is secondary. Seaonals will average less than 10 hours a week unless someone "permanent" quits or calls out.
Many suppliers are now on a COD basis (lots of Craftsman especially) or are paring back their shipments. This is reworded as a "transitional" phase due to the Stanley Black and Decker acquisition---I can assure you that this is FALSE. As we speak, third-rate suppliers are taking place of suppliers of better/average quality goods so as to save a buck or to take the place of a supplier with "tougher" terms. It's really prevalent in Craftsman power tools, Kenmore small appliances and over half of apparel. Be on the lookout for Kenmore large appliances - we are looking to transition a lot of Whirlpool, Electrolux or LG-manufactured Kenmore models to Midea and Daewoo. Customers won't be able to tell the difference until the one year warranty is up.
Look forward to a dismal Q4 and a whole bunch of store closures in Jan.