Long the target of progressives looking to increase the minimum wage, Wal-Mart announced earlier this year that the company would increase its base wage to $9 an hour in April and $10 an hour by February 2016. How’s that working out so far?
In November Wal-Mart announced a 10% decline in earnings per share, for the fiscal year’s third quarter. Higher wages were “by far the biggest driver of the decline in consolidated operating income,” as CEO Doug McMillon put it in the earnings conference call. In October Wal-Mart…
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