Dick's Sporting Goods Inc
Last year, the athletic-wear chain had marked a target of hiring 9,000 interim staff for the festive rush.
The reveal from Dick's follows similar conservative seasonal employment goals recently unveiled by giants like Target Corporation
The report quoted a study conducted by Challenger, Gray & Christmas that indicated a trend, noting retail outlets in the U.S. are expected to hire the lowest number of seasonal workers since 2008.
Rising labor costs seem to be the primary reason for this trend.
The report also cited a recent analysis by Deloitte, which highlights that the U.S. might witness the most sluggish growth in holiday sales in half a decade due to escalating inflation rates, leading households to tighten their budgetary belts.
However, Amazon.Com, Inc.
The report further noted that brands like Dick's Sporting Goods, Nike, Inc.
Price Action: DKS shares are trading lower by 0.62% at $106.75 on the last check Tuesday.