Target Corp. Chief Executive Officer Gregg Steinhafel, dogged by a holiday-season data breach that exposed the personal information of tens of millions of shoppers, will step down as chairman, president and CEO.

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.

The owner of Old Navy, Banana Republic and its namesake apparel chain will raise its hourly pay for U.S. employees to $9 in 2014 and $10 the following year.