Some good news in a down economy..........



Hobby Lobby hikes pay rate | NewsOK.com
Hobby Lobby hikes pay rate
More than 6,900 full-time workers will get raises, company announced
BY RANDY ELLIS
Published: April 15, 2009

Starting immediately, Oklahoma City-based Hobby Lobby Stores Inc. is granting pay raises to all full-time hourly employees who earn up to $13 an hour, company founder David Green said Tuesday.

The company also has established its own $10 minimum wage for all full-time employees.

"Our employees are the backbone of our company, and we believe that giving them the opportunity to share in our success is the right thing to do,” said Green, Hobby Lobby’s chief executive officer.

The raises will apply to employees of Hobby Lobby and its affiliated businesses, including Mardel and Hemispheres, he said. More than 6,900 employees throughout the corporation will receive pay increases, with some receiving nearly $600 more a month.

Hobby Lobby Stores Inc. is a privately held retail chain of more than 400 arts-and-crafts stores in 33 states. The company’s revenue for 2008 was $1.8 billion.

While many retail businesses have struggled with the declining economy, Green said Hobby Lobby has continued to thrive.

"So far, by God’s grace, we’re doing well this year. We have approximately a 5 percent increase in same-store sales so far this year and about a 10 percent overall increase with new stores,” Green said.

The company plans to add 25 Hobby Lobby Stores and five Mardel stores this year, which will require the addition of about 1,000 employees to the company’s 18,000-person nationwide work force, he said.

Hobby Lobby’s new $10 minimum wage is 34.5 percent higher than the federal minimum wage of $6.55 an hour.

Not the first time
"This minimum wage increase is the most exciting initiative I’ve been involved with since I started the company,” Green said. "We believe the success of Hobby Lobby is directly attributable to our outstanding employees and our strong corporate values, which are based on biblical principles, including integrity, service to others and giving back to those in need.”
This is not the first time Hobby Lobby has given employees unexpected pay raises during trying financial times. Last year, when gasoline prices skyrocketed, Hobby Lobby gave workers permanent 25 cent per hour raises to help offset cost-of-living increases.