Feb. 20 (Bloomberg) — Even before it comes to a vote, retailers like Gap Inc. and Wal-Mart Stores Inc. are weighing the benefits of a proposed increase in the minimum wage.
Gap, the largest clothing-focused chain in the United States, announced plans to boost the hourly wages of its workers to $10 by next year, getting out ahead of a potential federal increase. The change will affect 65,000 workers, the San Francisco-based company said, drawing praise from President Barack Obama.
Wal-Mart, the biggest private employer in the country, said it's neutral on the issue, though the company is assessing the benefits of a nationwide rise in the minimum wage. While such a move would increase its payroll costs, it also could put more money in the pockets of some its customers, said David Tovar, a spokesman for the Bentonville, Arkansas-based company.
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