Home Depot said it is raising starting pay for employees to $15 an hour, effective this month.
in November in an election workers said was dogged by managers' surveillance and coercion.
Home Depot posted huge sales numbers during the pandemic as millions of workers stuck at home either renovated the space where they lived, or found more spacious accommodations. All of that put the world's largest home improvement retailer in high demand with shoppers and Wall Street investors. Home Depot posted mixed numbers for its fourth-quarter earnings, which it reported on Tuesday. The company had a profit of $3.36 billion, or $3.30 per share, which is 3 cents better than Wall Street had expected during the final quarter of 2022, according to a survey of analysts by Zacks Investment Research. However, it missed on revenue, posting sales of $35.83 billion for the quarter.
The retailer also projected a tepid outlook for the coming year, with elevated inflation and a housing boom that's rapidly cooling in the face of rising mortgage rates. Home Depot's shares sank in Tuesday morning trading, falling nearly 5%.
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