By Will Feuer

Walmart is boosting the average base salary of its store managers by more than 9% to $128,000, and overhauling its bonus program to place a heavier emphasis on store profit.

The retailer said the average salary of its store managers will go from $117,000 to $128,000 a year. Walmart said managers who hit all targets will now be able to earn up to 200% of their base salary.

The company said the redesigned bonus program means a store's profit and sales will play a bigger role when calculating annual bonuses.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

January 18, 2024 17:13 ET (22:13 GMT)

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