Because the pandemic has everybody staying dwelling and tending to lengthy procrastinated dwelling enchancment tasks, Home Depot is reaping the income. With the best quarterly gross sales progress in 20 years, the corporate plans to compensate important workers who labored all through the pandemic with a increase. In keeping with Yahoo Finance, Home Depot joins different massive field retailers additionally giving their minimal wage workers a pay bump. Nonetheless, Home Depot traders are spooked and its shares dropped after the announcement.
MarketScale Radio hosts Tyler Kern and Daniel Litwin analyze the response, expressing disappointment in shareholders and stock merchants bearish response to rewarding important frontline employees. Most main retailers have seen income amid the pandemic as a direct results of the low-income important workers that continued work. Litwin provides that the company pay bump ought to come along with authorities stimulus to assist these frontline employees attain a livable wage.
- Home Depot sees $33 billion in income and its strongest quarterly gross sales progress in 20 years.
- Home Depot takes $1 billion and pledges to place it within the pockets of workers.
- Shareholders react bearishly on the inside funding and shares drop.
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