Target Corporation (NYSE:TGT) is planning to increase its minimum wage to $11 per hour.

The retailer says that it that the hike to minimum wage for its employees will go into effect during October. Target notes that this means thousands of its employees will see pay increases starting this Fall.

Target also says that it doesn’t plan to stop its minimum wage increase at just $11 per hour. The retailer is also promising that it will increase its minimum wage to $15 by the end of 2020. As with the increase to $11, this will include all of its employees.

“Target has a long history of investing in our team members,” Brian Cornell, CEO and Chairman of Target, said in a statement. “We care about and value the more than 323,000 individuals who come together every day with an absolute commitment to serving our guest.”

Target specifically notes that its minimum wage hike will also include seasonal workers. The company is planning to bring in 100,000 temporary employees to help with the 2017 holiday shopping season. It made 70,000 holiday hires during the 2016 shopping season.

Target isn’t the only retailer that has increased its minimum wage for employees. Wal-Mart Stores Inc (NYSE:WMT) increased its minimum wage to $10 an hour last year. It said then that the wage hike would hurt its earnings by as much as 12% over the next couple of years. TGT is also likely going to see tighter earnings following its minimum wage increase this Fall and the further hike over the next few years.

TGT stock was down slightly as of Monday morning and is down 18% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.