1:48 a.m. Aug. 26, 2021
- By Tomi Kilgore
Lululemon to raise minimum wage to $15 or $17 per hourLululemon Athletica Inc. 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. last week, , and CVH Health Corp. earlier this month to . Lululemon's stock has rallied 23.8% over the past three months while the S&P 500 has gained 7.2%.