WOONSOCKET, R.I. — CVS Health posted second quarter sales and earnings that easily topped analysts’ projections. Strong retail sales helped lift the company’s adjusted profit to $2.42 a share, well ahead of Wall Street’s prediction of $2.07 a share. Revenue climbed 11.1% to $72.62 billion, beating the forecast of $70.24 billion. The company boosted its
MINNEAPOLIS — Target Corp. reportedly has begun raising its minimum wage to $10 an hour. The discount store chain’s management has communicated the $1-per-hour raise to store managers, who have started informing employees about the increase, according to sources cited by Reuters. Most employees who earn less than $10 per hour should see their base
NEW YORK — Within hours of each other, the governors of California and New York recently signed bills that will eventually raise the minimum wage in their states to $15. The moves have intensified debate over the possible implications for the retail industry, which relies heavily on workers with low skills who typically receive comparatively
NEW YORK — In the wake of Target Corp.’s decision to join Walmart in raising its minimum pay rate for hourly workers, other retailers, including chain drug stores, may face pressure to do the same. The United Food and Commercial Workers International union reportedly plans to step up its efforts to organize workers at Walgreens
