Best Buy hikes hourly wages, reports sales rise

(Reuters) – Best Buy Inc said on Tuesday that it would raise hourly wages for its employees by 4%, replacing its short-term incentive pay it introduced during the pandemic, from Aug. 2.

The company also said it would raise the starting wage to $15 per hour.

Best Buy said that quarter-to-date sales rose about 2.5% from a year earlier, driven by strong demand for computing, appliance and tablet categories.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Ramakrishnan M.)