UPDATE 2-Target to lift minimum wage to $9 an hour -source
(Changes attribution to source, adds labor movement background)
(Reuters) – Target Corp. will raise the
minimum wage for all of its workers to $9 an hour, matching
moves made by rivals such as Wal-Mart Stores Inc and TJX
Cos, a source familiar with the matter said.
Target will put the new wage levels into effect next month,
said the source, who confirmed the news reported earlier by Dow
Target shares fell 1 percent in extended trade. The company
has said it does not disclose wage levels.
Labor groups and allies across the country for some three
years have been pressing for higher pay, especially at retailers
and fast-food companies.
The movement had its biggest success last month when
Wal-Mart said it would move to the $9 minimum in April and $10
an hour next year.
That immediately raised the pressure on Target, which is
competing for employees with Wal-Mart. Women’s advocacy group
UltraViolet, for instance, recently ran a Web ad campaign that
targeted devices located near three Target stores.
Banner ads read, “Did you know there’s a Walmart near you
that pays higher minimum wage than Target?”
(Reporting By Dan Burns and Peter Henderson; Editing by Chris
Reese and Jonathan Oatis)