The world’s largest retailer, Walmart (NYSE:WMT), took a cautious stance with its holiday hiring. WMT plans to add 40,000 associates in seasonal and full-time roles for the holiday season and beyond. This is well below the 150,000 associates that it added last year. Walmart’s limited hiring is indicative of a dismal holiday season for retailers.  Notably, higher food inflation increased energy prices, and an uncertain macro environment is impacting consumer spending patterns (customers' spending on necessities and not buying items at higher price points) and taking a toll on retailers. Moreover, the tight labor market and supply shortages further remain a drag.
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