Home Depot to spend $1 billion more on hourly workers | CNN Business

The home improvement retail chain did not detail how much of a pay raise the average hourly worker will receive. The company disclosed the plan for increased compensation Tuesday when reporting record earnings for the fiscal year that ended in January. Earnings for the year reached $17.1 billion, up 4% from a year earlier, while net sales also rose 4% to $157 billion. Quarterly earnings per share of $3.30 were 2 cents better than forecast by analysts surveyed by Refinitiv.

The company’s shareholders will also benefit from its successful year as it announced it is raising its dividend by 10%, or about $780 million. Its guidance forecasts that revenue will be little changed in the year ahead, and earnings per share will be down by a mid-single-digit percentage. Analysts had been forecasting a narrow increase in earnings per share for the year. The company had 491,000 employees worldwide a year ago, according to the most recent figure disclosed in a company filing.

Home Depot today terminated the union organizer for the Philadelphia store. Please look into this.

Billion dollar minimum wage. Cool.

That's awesome for all those college grads who received a major in drama..

Then pass the cost on to constomers.

This is a worthless announcement without wage disclosure. Home Depot is a massive company. Is a billion across the board enough for their full time workers to make a living wage? Anything less than that result is simply performative on corporates end.

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