Target's hourly workers are getting another raise.
CEO Brian Cornell confirmed that after raising its minimum wage to $11 this past fall, Minneapolis-based Target will be raising it again to $12 in spring.
He made the announcement at Target's annual financial community meeting Tuesday morning, a few hours after Target revealed positive 4th Quarter results.
Why is it doing this?
Target had already revealed its intentions to raise minimum wages for its hourly staff to $15 by 2020, so this increase to $12 was always planned.
However, given the previous wage hike from $10 to $11 only just happened in October, the rise to $12 arrived a little sooner than expected.
Cornell said the reason is because when it raised wages to $11, it saw a 30 percent surge in applicants, as well as a better quality of applicant as well.
He's hoping lightning strikes twice now that it's raising wages to $12, getting the hop on rival Walmart, which only matched Target's $11 wage following the passage of December's tax bill.
Target employs around 323,000 workers across more than 1,800 stores. It's not clear however how many of those are on hourly wages.