Some labor groups looking to broaden their push for minimum wage hikes after success at big U.S. retailers including Target Corp, are preparing to take on drugstore chains. A source this week said Target will raise its minimum wage to $9 per hour in April, matching moves by rivals Wal-Mart Stores Inc and TJX Cos.The retailers, which were targeted by labor advocates and their allies, are also facing tougher competition for employees as unemployment drops to its lowest level in more than six years.Labor activists said the wage hikes by big retailers will give them greater leverage with drugstore operators, who make up one of the fastest-growing and most profitable areas in retail.
Target Corporation (Target) is engaged in providing everyday essentials and fashionable, and differentiated merchandise at discounted prices. Shares of TGT traded higher by 0.88% or $0.71/share to $81.31. In the past year, the shares have traded as low as $55.25 and as high as $81.84. On average, 4956300 shares of TGT exchange hands on a given day and today's volume is recorded at 5534630.
Wal-Mart Stores, Inc. (Walmart) operates retail and other stores in various formats, including membership clubs. Shares of WMT traded higher by 2.11% or $1.72/share to $83.24. In the past year, the shares have traded as low as $72.61 and as high as $90.97. On average, 6843490 shares of WMT exchange hands on a given day and today's volume is recorded at 12364642.