Walmart's wages have risen 50% over the last 4 years, but the largest employer in the U.S. is being accused of paying 'starvation wages.'
Target will finish phasing in a minimum hourly wage of $13 this month, which puts it on track to reach $15 an hour by the end of 2020.
"It's clear by our actions, and those of other companies, that the federal minimum wage is lagging behind," McMillion said, adding "$7.25 is too low." Sanders said later that many Walmart workers are relying on public housing and food stamps just to get by. "The American people are sick and tired of subsidizing the greed of some of the largest and most profitable corporations in this country," the Democratic presidential hopeful said.
Walmart has a market value of about $298 billion. Its shares were up 1.8% Wednesday afternoon, having climbed nearly 12% this year. On a constant currency basis, Walmart's total revenues amounted to $500.9 billion in fiscal 2018, and its operating income was $20.50 billion.
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