Marshalls and T.J. Maxx to Raise Minimum Wages to $9 an Hour
A week after Walmart announced it would give half a million of its employees raises to $9 an hour, TJX Companies CEO Carol Meyrowitz said that all full- and part-time T.J. Maxx, Marshalls, HomeGoods and Sierra Trading Post workers would begin making at least $9 an hour in June. Like Walmart, TJX will raise hourly wages for some employees to $10 sometime next year.
“At TJX, we attribute our success over the last 38 years primarily to the people we have hired who have remained focused on our mission of delivering consumers amazing values,” said Meyrowitz in a statement. “This pay initiative is an important part of our strategies to continue attracting and retaining the best talent in order to deliver a great shopping experience for our customers, remain competitive on wages in our U.S. markets, and stay focused on our value mission.”
As we reported last week, the federal minimum wage has been $7.25 since 2007, but 29 states have higher minimums. Some states already have minimum wages at or above $9 an hour—California, Massachusetts and Rhode Island are $9, Connecticut and Vermont are at $9.15, Oregon is $9.25, Washington is $9.47 and Washington D.C. is $9.50.
The off-price retailer’s announcement came in its fourth-quarter earnings statement; the company reported net sales up 6 percent to $8.3 billion for Q4 with net income up 15 percent to $648 million.
The company operates 1,119 T.J. Maxx and 942 Marshalls stores in the U.S.
