T.J. Maxx, Marshalls & HomeGoods To Increase Minimum Wage To $9/Hour

In another sign that retail companies are re-evaluating the way they pay employees, TJX Cos. – the parent company of stores like T.J. Maxx, Marshalls and HomeGoods – announced it intends to increase hourly wages for worker starting this year.

Bloomberg reports that the company, which also own Sierra Trading Post, unveiled plans Wednesday to boost pay to $9 per hour for nearly 200,000 employees beginning in June.

By 2016 the company aims to pay all hourly workers at least $10 per hour, as long as they have been employed by the retailer for at least six months.

“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,” CEO Carol Meyrowitz said in a statement.

TJX’s proposal to increase employee pay comes just a week after Walmart announced it would provide raises for nearly 40% of its hourly workers over the next year.

Retail wages have been the center of much discussion in the past few years, with workers and labor advocates scrutinizing companies for underpaying employees and the legislature contemplating an across the board increase to minimum wage standards.

As a result, more and more retailers have indicated they would bump up compensation in recent months.

Employees at Gap, Inc. stores received an increase to $9 per hour in 20014, with that wage set to climb to $10 per hour this year.

IKEA also vowed to give hourly workers a raise from $91.7 to $10.76 starting this past January.

TJ Maxx Follows Wal-Mart in Raising Employee Wages to $9 an Hour [Bloomberg]