Costco's hourly workers are getting a raise — read the CEO's memo

• Costco hourly workers in the US, Puerto Rico, and Canada are getting raises later this month.
• Pay at both ends of the scale will increase by $1 per hour, CEO Ron Vachris said in a memo obtained by BI.
• The raise follows several increases in recent years as Costco tries to stay competitive on wages.

Costco has long been one of the highest-paying employers in retail — a reputation on track to continue as hourly workers in the US, Puerto Rico, and Canada are scheduled for raises later this month.