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It’s a good time to be in the Home Improvement business. Lowe’s, the home improvement retail giant, appears to be looking forward to a busy spring, with a press release last week announcing it wants to boost its roster of front-line workers by 50,000 in the coming months. The jobs include both full-time and seasonal positions, adding to the approximately 90,000 workers Lowe’s says it hired during 2020.
COVID-19 was a major bust for most retailers, but not for the home improvement businesses. Both Lowe’s and Home Depot had a marked increase in sales as quarantined families forced to stay at home for the duration, started looking around for ways to DIY their living spaces. In 2021, residential remodeling is continuing to grow, and some indicators point to Lowe’s being well positioned to benefit from the trend, with both a vigorously growing e-commerce segment and the possibility it is about to push more aggressively into supplying contractors as well as DIY homeowners.
Now, as the pandemic continues to spread across the United States, Lowe’s also says it is offering a fresh round of bonuses to its workers. Working in retail naturally exposes associates to greater risk of catching the coronavirus, given their contact with large numbers of customers daily, so the bonuses are likely a form of incentive pay.
The company has earmarked $80 million for distribution to workers in front-line positions across Lowe’s lineup of North American outlets. Part-time and seasonal employees will get $150 each, while full-time workers will receive $300 apiece. Lowe’s says it has paid out six other rounds of bonuses since the pandemic erupted across the United States last March.
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Photo Credit: Jonathan Weiss / Shutterstock.com
Most of you have likely seen last week's GameStop drama by now – and if you haven't, you can get the Nintendo Life rundown here – but to cut a long story short, thanks to investing subreddit r/wallstreetbets, the video game retailer's stock price even rose above giants like Disney, Apple and Microsoft. To say the very least, it's been a strange week. Plenty of drama ensued, including trading app […]
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