Luxury off-price retailer Saks Off 5th said it is raising minimum base wages for all hourly store associates in North America to $15 per hour.
“The past 18 months have been like nothing we have seen before in retail and this increase in base pay is a testament to our associates’ collective commitment and dedication to our business,” Rob Brooks, president of Saks Off Fifth, said. “As we work toward creating the ultimate luxury off-price retailer, we are focused on investing in and attracting the talent we need to drive our business forward.”
In addition, to further recognize associates’ efforts as they navigated through an unprecedented time, the company is awarding hourly store associates an appreciation bonus of $500.
As Saks Off 5th stores prepare for the holiday season, the company said it is currently hiring approximately 500 seasonal associates across the U.S. and Canada to support the growing business. Many of these positions have the opportunity to transition to full time roles in 2022.
Saks Off 5th offers eligible full and part time associates flexible schedules, competitive compensation, a comprehensive benefits package, an associate discount and paid time off, including holidays.
The Saks Off 5th store fleet includes more than 100 locations across the U.S. and Canada. Through its Saks Off 5th stores, the company offers a compelling assortment of brands to fashion-seeking customers at affordable prices. With access to a leading luxury off-price e-commerce platform, O5, the umbrella company, provides a seamless shopping experience for customers.
As companies struggle to hire new employees, raising wages has been a key tool. Last month, Lululemon said those who are currently employed in Lululemon stores or at its Guest Education Center in North America will earn a new minimum of $15 or $17 per hour depending on their role and the market.