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Best Buy Raises Hourly Wages To $15

Best Buy Co. Inc. (BBY) Tuesday said it is raising the starting hourly wage for all domestic employees to $15 effective August 2.

"Strong consumer demand, combined with shopping experiences that emphasize safety and convenience, has helped produce our sales results to date," Best Buy CEO Corie Barry said. "None of this would be possible without the effort and energy of our front-line employees working in stores, supply chain facilities and customers' homes. Today's announcement on pay reflects an ongoing evolution and investment in how we compensate them for their critical work and is the result of clear and consistent feedback from field employees across the country."

On April 19, the company temporarily furloughed about 51,000 domestic hourly store employees, including nearly all part-time employees.

The company said its quarter-to-date sales were up about 2.5% compared to last year. Sales were up approximately 15% compared to last year since stores re-opened for customer shopping.

Quarter-to-date through July 18, online sales growth was approximately 255% compared to the prior year.

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