Home Depot Invests Pandemic Earnings Back into its Employees

As the pandemic has everyone staying home and tending to long procrastinated home improvement projects, Home Depot is reaping the profits. With the highest quarterly sales growth in 20 years, the company plans to compensate essential employees who worked throughout the pandemic with a raise. According to Yahoo Finance, Home Depot joins other big box retailers also giving their minimum wage employees a pay bump. Still, Home Depot investors are spooked and its shares dropped after the announcement.

MarketScale Radio hosts Tyler Kern and Daniel Litwin analyze the reaction, expressing disappointment in shareholders and stock traders bearish reaction to rewarding essential frontline workers. Most major retailers have seen profits amid the pandemic as a direct result of the low-income essential employees that continued work. Litwin adds that the corporate pay bump should come in conjunction with government stimulus to help these frontline workers reach a livable wage.

KEY POINTS:

  • Home Depot sees $33 billion in revenue and its strongest quarterly sales growth in 20 years.
  • Home Depot takes $1 billion and pledges to put it in the pockets of employees.
  • Shareholders react bearishly at the internal investment and shares drop.

For the latest news, videos, and podcasts in the Retail Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!

Twitter – @RetailMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

Women's empowerment
Seizing the Narrative: The Transformative Impact of Storytelling on Women’s Empowerment
April 19, 2024

With gender equality becoming a significant global agenda, the narrative around women’s empowerment is more relevant than ever. Amid rising awareness and shifting societal norms, women are increasingly seeking avenues for self-expression and empowerment. A recent study by the Global Gender Gap Report highlights that while progress is being made, substantial efforts are still […]

Read More
V2G technology
Plug into the Future: Decoding V2G for Utility Applications
April 19, 2024

Brian Rudy from Verizon IoT and Melissa Chan of Fermata Energy explore the cutting-edge potential of vehicle-to-grid (V2G) technology at DISTRIBUTECH 2024. Their discussion highlights how this innovation transforms electric vehicles into dynamic energy storage units, capable of stabilizing the grid by storing and discharging power as needed. This technology represents a significant shift […]

Read More
zero trust architecture
Secure Grid Modernization with Zero Trust Architecture
April 19, 2024

Ray Bauer of Verizon Business engages with Del Rodriguez from Palo Alto Networks at DISTRIBUTECH 2024. Rodriguez shares insights into the significance of cybersecurity within the utility sector, particularly in light of increasing cyber threats and the convergence of IT and operational technology (OT). Bauer and Rodriguez discuss Palo Alto Networks’ initiatives to enhance […]

Read More
private wireless networks
Private Wireless Networks
April 19, 2024

Verizon host Wayne Weeks discusses the evolving utility industry with John Gaster, CEO of KSI Data Sciences at DISTRIBUTECH 2024. Together, they explore how KSI focuses on harnessing data from remote sensing devices to enhance the safety, efficiency, and cost-effectiveness of utility operations. Gaster emphasizes the significant role of AI and machine learning in […]

Read More