Another big payday for Walmart corporate employees as bonuses to reach 120% of base pay

Walmart’s (NYSE:WMT) U.S.-based corporate employees will be receiving another generous bonus this year as the company’s strong sales and soaring stock price results in bonuses of as much as 120%, Bloomberg reported citing sources.

Bonuses are based on employee performance as well as the company’s profits. Last quarter, the retail giant reported a 14% increase in profit as revenue climbed 5.5% as the high-inflationary environment lured cash-strapped as well as higher income consumers to Walmart’s 4,800 U.S. stores.

Walmart (WMT) shares have outperformed rivals with a 70% gain this year, compared to +30% for Amazon (AMZN) and -12% for Target (TGT).

Walmart (WMT) revised its bonus package for managers to tie store performance to its pay package, making managers eligible to receive 200% of their base pay. Managers can also receive an annual stock grant of up to $20,000.

Separately, the head of the company’s Health & Wellness business is leaving the company, according to Reuters, after nearly 4 years at the company. He will be replaced by Kyle Kinnard, currently the senior vice president of Walmart’s Neighborhood Market.