Walmart announced that it will raise wages for its Sam's Club employees Tuesday, in an apparent attempt to keep up with Costco in a retail wage race.

Sam’s Club said Tuesday it will raise pay to incentivize workers to stay with the company — and not jump ship to Costco.

Walmart-owned Sam's Club said on Tuesday it would raise average hourly wages for nearly 100,000 of its workers, as part of a new employee compensation plan that will come into effect ahead of the holiday season rush.