Customers wearing face masks shop at a Walmart supermarket amid the new coronavirus outbreak on July 15, 2020 in Washington, DC.
Sha Hanting | China News Service via Getty Images
Walmart said Tuesday it will award another round of bonuses to hourly employees and close its stores on Thanksgiving Day.
The big box retailer said in a press release that it will spend about $ 428 million in bonuses to thank employees for working during the coronavirus pandemic. Hourly full-time employees will receive $ 300 and part-time and temporary workers will receive $ 150. The company will pay the bonuses on August 20.
Walmart is the nation’s largest grocer and private sector employer. So far, it has hired more than 400,000 employees during the pandemic to help the company store shelves, clean stores, and keep up with online orders, according to a company spokesperson.
As Americans stay home, they turn to the big-box grocery store, toilet paper, and a wide range of items, from bikes to hair color. The retailer’s sales soared. Same-store sales increased 10% and e-commerce sales in the US increased 74% in the first quarter, which ended on April 30.
Customers have also spent more when they buy. The company’s average ticket increased 16% in the first quarter, Chief Financial Officer Brett Biggs said.
Walmart shares were recently trading at around 1%. The stock, which has a market value of nearly $ 377 billion, is up 12% to date. Last week, it peaked at 52 weeks at $ 134.13.
During the pandemic, employees have had to work to keep up with that strong demand and put their health at risk. Some Walmart employees got sick and died from Covid-19. A family of a former Illinois employee filed a wrongful death lawsuit in April.
Walmart has adopted an increasing number of security measures in the course of the pandemic, including providing masks and taking employee temperatures. This week, he began requiring all clients to wear face masks or covers.
The retailer has awarded two other special bonuses to employees. All the bonds have totaled $ 1.1 billion.
Walmart earned $ 14.88 billion in sales of $ 524 billion last year.
In Tuesday’s announcement, Walmart said its stores, and its Sam’s Club warehouse clubs, will close on Thanksgiving to also show appreciation for the workers.
“We know this has been a difficult year, and our associates have taken a step forward. We hope you enjoy a special Thanksgiving Day at home with your loved ones,” said John Furner, President and CEO of Walmart US in a Press release. “We are certainly grateful to our people for all of their efforts.”
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