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April 2, 2020, 2:17 p.m. EDT

Lowe's to raise hourly wages by $2 an hour, keep stores open an hour later than rival Home Depot

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By Tomi Kilgore

Lowe's Companies /zigman2/quotes/205563664/composite LOW +1.10% said Thursday it was raising wages by $2 an hour for all full-time, part-time and seaonal hourly workers for the month of April, throughout the U.S. and Canada. The home improvement retailer also said it will close all stores by 7 p.m., which is an hour later than when rival Home Depot Inc. /zigman2/quotes/208081807/composite HD +0.25% said on Wednesday that it will close its stores. Lowe's said it will make masks and gloves available to all employees "who want them," and has developed an app, which is availabe on employees' hand-held devices, to implement a new customer limit protocol. The retailer has also installed Plexiglass shields at all points of sale and increased third-party cleaning shifts in the stores. Lowe's stock, which rose 0.8% in afternoon trading, has shed 32.3% year to date, while Home Depot shares have declined 18.3% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +2.17% has dropped 26.5%.

/zigman2/quotes/205563664/composite
US : U.S.: NYSE
$ 123.59
+1.34 +1.10%
Volume: 7.68M
May 26, 2020 4:00p
P/E Ratio
20.86
Dividend Yield
1.78%
Market Cap
$93.31 billion
Rev. per Employee
$230,029
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/zigman2/quotes/208081807/composite
US : U.S.: NYSE
$ 242.48
+0.60 +0.25%
Volume: 4.54M
May 26, 2020 4:00p
P/E Ratio
24.11
Dividend Yield
2.47%
Market Cap
$260.45 billion
Rev. per Employee
$261,993
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
24,995.11
+529.95 +2.17%
Volume: 426.29M
May 26, 2020 5:20p
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