Retail News

Costco raises minimum wage as profits increase

Reuters 03/08/2019

Costco Wholesale has announced it will increase its minimum starting wage to $15 an hour after reporting that its gross profit margin had increased to 11.29 percent, its first gain after three straight quarterly declines. The company posted a same-store sales gain of 2.5 percent during the quarter. Costco’s share price was up five percent on the news.

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