Workers at T.J. Maxx, Home Goods, and Marshalls can expect a raise in June, as The TJX Companies Inc. announced Wednesday it will increase its pay of workers in the United States to at least $9 an hour.
By 2016, workers with at least six months of employment will see a bump up to $10 an hour. "This is the way retailers need to go," Brian Yarbrough, an analyst at Edward Jones, told Bloomberg. "Some of the best performers already pay higher wages." TJX stock rose 3.3 percent at the close of trading Wednesday, the company's biggest one day gain in six months.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The week's best photosIn Pictures Robot kickboxing, milk for a god, and more
-
Gazer: 'paranoid noir chiller' is a gripping watchThe Week Recommends Ryan J. Sloan's debut film is haunted with 'skin-crawling unease'
-
William Kentridge: The Pull of Gravity – a 'bold' exhibitionThe Week Recommends The South African artist brings his distinctive works to Yorkshire Sculpture Park
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
