Target Corp. on Monday announced it is handing out more than $200 million in bonuses to its 375,000 employees, the fifth time the Minneapolis-based retailer has rewarded its workers with checks since the coronavirus pandemic hit.
Hourly store workers and employees in distribution centers, headquarters and field-based offices will receive a $500 bonus. Store managers, executive team leaders and salaried distribution center leaders will be given a bonus ranging from $1,000 to $2,000.
Employees can expect the bonus checks early next month.
Target also said it is extending coronavirus benefits into 2021 to help its employees and their families navigate the impact of the pandemic.
The latest bonus comes after Target last year moved to a $15 an hour starting pay wage and offered paid leaves and benefits, representing a $1 billion added investment in the health and safety of employees compared to 2019, according to a Monday statement.
Buoyed by online shopping amid the pandemic, Target also saw a big boon in digital sales and drive-up and delivery services during the holiday season.
The company earlier this month reported that comparable sales in November and December grew 17.2 percent, driven by a 4.3 percent increase in traffic and a 12.3 percent increase in the average sale per customer. Store-originated comparable sales grew 4.2 percent, while comparable online sales grew 102 percent.
Online sales surged as customers looking to limit possible coronavirus exposure turned to the company’s same-day pickup and Shipt services, which together grew 193 percent, the company said. Drive-up service at its nearly 1,900 stores grew the fastest at more than 500 percent, while Target’s sales fulfilled by Shipt grew more than 300 percent.
The company continued to gain market share throughout the two-month period in all five of its core merchandising categories. Growth was strongest in its home and hardlines (furniture and electronics) departments, both of which saw sales increase in the low 20 percent range. As far as food and beverage, sales growth was in line with the company average.
