Home Depot said it will increase pay and benefits for front line hourly staff by $1 billion this year
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.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
STOCK MARKET NEWS: President’s Day, Biden’s surprise Ukraine visit, Walmart, Home Depot earningsPresident Biden in Ukraine for surprise visit, stock and bond markets closed in observance of President’s Day, gold steady and Walmart, Home Depot earnings due on Tuesday. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Consulte Mais informação »
Home Depot says it will spend $1 billion to give hourly workers a raiseHome Depot is the latest retailer to signal that the labor market is still tight.
Consulte Mais informação »
Home Depot dividend hike boosts yield above 2.6%Home Depot Inc. said Tuesday it will raise its quarterly dividend by 10.0%, to $2.09 a share from $1.90 a share. Shareholders of record on March 9 will be...
Consulte Mais informação »
Home Depot stock sinks after sales miss and downbeat outlook, offsetting profit beat and dividend hikeShares of Home Depot Inc. dropped 2.8% toward a three-month low in premarket trading Tuesday, after the home improvement retail giant reported fiscal...
Consulte Mais informação »
Home Depot stock selloff cutting more than 70 points off the Dow’s priceShares of Home Depot Inc. dropped 3.5% in premarket trading Tuesday, in the wake of the home improvement retailer’s disappointing quarterly earnings report...
Consulte Mais informação »
Home Depot Forecasts Earnings Drop This YearHome Depot forecast a drop in profit this year on flat sales as consumer spending declines and cost inflation remains elevated.
Consulte Mais informação »