{"id":44631,"date":"2017-09-26T07:00:21","date_gmt":"2017-09-26T07:00:21","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=44631"},"modified":"2017-09-26T07:00:21","modified_gmt":"2017-09-26T07:00:21","slug":"target-raises-minimum-hourly-wage-11-pledges-15-end-2020","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/target-raises-minimum-hourly-wage-11-pledges-15-end-2020.html","title":{"rendered":"Target raises minimum hourly wage to $11 pledges $15 by end of 2020"},"content":{"rendered":"

Target raises minimum hourly wage to $11 pledges $15 by end of 2020<\/span><\/strong><\/span><\/h2>\n

Target raises minimum hourly wage to $11 pledges $15 by end of 2020:\u00a0Target Corp (TGT.N) said on Monday it would increase its minimum hourly wage this year by a dollar to $11, vowing to raise this by the end of 2020 to $15 an hour — the so-called \u201cliving wage\u201d labor advocates across the United States are campaigning for.<\/span><\/p>\n

The Minneapolis-based retailer, which plans to start hiking minimum pay across its stores to $11 an hour in October, provided assurances that the move would not hurt its previously announced full-year and quarterly earnings forecasts.<\/span><\/p>\n

Amid increasing competition for workers in a strengthening labor market, the \u201cFight for Fifteen\u201d movement — a union-led push for a $15 minimum wage — has been gaining traction in cities across the country.<\/span><\/p>\n

Target\u2019s decision comes less than three months after the Minneapolis City Council approved a measure requiring large companies to pay workers least at $15 an hour by 2022, following decisions by other liberal-leaning U.S. cities to raise the minimum wage.<\/span><\/p>\n

The retailer, which employs more than more than 323,000 people, said the $11 hourly wage would also apply to the more than 100,000 workers Target is hiring for the holiday season.<\/span><\/p>\n

Chief Executive Brian Cornell told reporters on a call that Monday\u2019s decision would leave Target better prepared for the upcoming holidays, helping the retailer to attract new employees and retain existing workers in an increasingly complex retail environment.<\/span><\/p>\n

Target, which does not typically make wage increases public in this manner, previously raised minimum pay by a dollar in both 2015 and 2016, pressured by labor groups and a competitive job market driven by minimum wage increases at Wal-Mart Stores Inc (WMT.N).<\/span><\/p>\n

Wal-Mart, the largest retailer and private sector employer in the United States, last raised its minimum wage for store workers in 2016 to $10 per hour.<\/span><\/p>\n

Target, which has been investing heavily this year to drive traffic and compete with online rivals, said it still expects third-quarter adjusted earnings of between 75 and 95 cents a share and full-year adjusted earnings of $4.34-$4.54 a share.<\/span><\/p>\n

Last month, the company reported its first increase in comparable sales in five quarters, raising expectations that its turnaround plans under Cornell were taking hold.<\/span><\/p>\n

Source:http:\/\/www.reuters.com\/article\/us-target-wages\/target-raises-minimum-hourly-wage-to-11-pledges-15-by-end-of-2020-idUSKCN1C01JO<\/span><\/p>\n

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