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Aug. 26, 2021, 6:49 a.m. EDT

Lululemon to raise minimum wage to $15 or $17 per hour

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By Tomi Kilgore

Lululemon Athletica Inc. /zigman2/quotes/204011506/composite LULU +1.30% said Thursday that it will raise the minimum base pay for most of its North America employees to $15 or $17 per hour, depending on their role in the market. The yoga gear and apparel seller's stock was still inactive in premarket trading. The new minimum base for its store and Guest Education Centre (GEC) employees is effective Sept. 27. Employees will also remain eligible for the bonus program, with the possibility to earn an additional $3 an hour on average, and up to $6 an hour, for reaching store-based goals. The company said it plans to hire more than 8,000 employees in North America for the holiday season. Lululemon becomes the latest company and many different sectors to raise its minimum hourly wage, such as MetLife Inc. /zigman2/quotes/206319319/composite MET +1.24% last week, to $20 an hour, and CVH Health Corp. /zigman2/quotes/209664499/composite CVS +0.82% earlier this month to $15 an hour. Lululemon's stock has rallied 23.8% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.35% has gained 7.2%.

/zigman2/quotes/204011506/composite
US : U.S.: Nasdaq
$ 335.25
+4.30 +1.30%
Volume: 319,976
Jan. 20, 2022 11:40a
P/E Ratio
50.31
Dividend Yield
N/A
Market Cap
$42.79 billion
Rev. per Employee
$234,282
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/zigman2/quotes/206319319/composite
US : U.S.: NYSE
$ 67.59
+0.83 +1.24%
Volume: 956,228
Jan. 20, 2022 11:40a
P/E Ratio
11.14
Dividend Yield
2.85%
Market Cap
$56.16 billion
Rev. per Employee
$1.51M
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/zigman2/quotes/209664499/composite
US : U.S.: NYSE
$ 103.75
+0.85 +0.82%
Volume: 1.47M
Jan. 20, 2022 11:40a
P/E Ratio
18.14
Dividend Yield
2.12%
Market Cap
$136.56 billion
Rev. per Employee
$950,143
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/zigman2/quotes/210599714/realtime
US : S&P US
4,594.09
+61.33 +1.35%
Volume: 858.95M
Jan. 20, 2022 11:40a
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