It has about 17,000 stores in North America and its U.S. workers draw an average wage of $15 to $24 per hour and a total compensation, with benefits, of nearly $27 per hour.
The company said employees with two to five years of service would be eligible for at least a 4% hike, while those with five or more years could get at least a 5% increase in pay.
"Coupled with higher wages and the expansion of hours, these investments have not only resulted in lower turnover... but have also increased hourly total cash compensation by nearly 50% since fiscal year 2020," the company said in a statement.
