Kay Jewelers, Zales parent Signet Jewelers lifts minimum wage to $15 an hour

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Signet Jewelers Ltd.
SIG,
+4.47%,
which retail brands include Kay Jewelers, Zales and Jared, said Thursday it was raising its minimum wage for all U.S. employees to $15 an hour, with the new wages fully rolled out by the spring of 2022. The new wages will cover all full-time and part-time employees, and for all new roles such as virtual jewelry consultants. “As we enter the next phase of our Path to Brilliance, we do so with the firm belief that businesses that prioritize their team will deliver better results by unlocking even more innovation,” said Chief Executive Gina Drosos. The jewelry retailer’s stock 3.3% in morning trading to the highest price seen during regular-session hours since December 2018. It has soared 62.7% over the past three months, while the S&P 500
SPX,
-0.28%
has gained 8.1%.

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