Williams-Sonoma Raises Minimum Wage To $15 An Hour

(RTTNews) - Home retailer Williams-Sonoma, Inc. (WSM) Thursday announced that it will increase its hourly minimum wage to $15 per hour, effective immediately.

The company said that the increase reflects its "continuing commitment to offering competitive pay as part of rewarding and recognizing associates who are critical to the company's success."

The pay increase will impact workers in all areas of the company including supply chain, stores and customer care centers.

"Putting our people first is one of our core values and guides our decision-making in how we invest in our associates with meaningful and competitive pay. Our talented associates in our supply chain, stores, care centers and corporate offices are dedicated to taking care of our customers every day and we are proud to take this step to reward and recognize them for their hard work and contributions," said Laura Alber, President and Chief Executive Officer.

WSM closed Thursday's trading at $172.65, up $5.79 or 3.47%, on the NYSE. The stock further gained $1.35 or 0.78% in the after-hours trading.