earnings

Lowe’s is awarding $55 million in bonuses for hourly workers to fight inflation

Lowe’s is awarding bonuses totaling $55 million to its front-line hourly employees to help soften the impact of inflation.

The home improvement store chain said on an earnings call Wednesday it is offering those workers limited-time discounts of up to 20% on everyday household and cleaning items.

“We will continue to look for meaningful ways to improve our associates’ work-life balance while providing them with the tools to build a career at Lowe’s,” Executive Vice President Joe McFarland said.

Overall, the retailer said, customers are cutting back on discretionary purchases, even as a subset continue to hire professional contractors for

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