... in which what they pay their employees is a part. It's not the primary issue, too be sure, but it's a factor. In their most recent annual shareholders report one of the things they specifically noted was that the increase in the minimum wage paid did not produce the predicted sales increases resulting from the public relations and advertising benefits of raising the wages. And as a result, in part, it could mean the closing of several underperforming stores, especially in longstanding locations which have become stagnant.
Keep the cpm low, keep the minimum wage and everyone will be happy and prosperous.
You will never read a news article that states a business closed because of a wage hike, even if the wage hike is the sole reason for it closing.I've read 4(not including dave's) articles on the Gap closures and only one mentioned the Gap's minimum wage hike and that was from NewsBusters which was from a blog..
Whew! Fortunately, I dont believe Gap closed their stores because they raised their minimum wage. I do believe is was a factor, though, because they said it was.If you, dave or anyone else believes that Gap is closing their stores because they raised their minimum wage, then you are either being disingenuous or just plain ole stupid.
If they had closed underperforming stores along time ago perhaps they wouldn't be having financial problem now.... And as a result, in part, it could mean the closing of several underperforming stores, especially in longstanding locations which have become stagnant.
Exactly. So people should quit thinking there's something that can be done about it.Businesses will always raise prices no matter what. And the poor will just get poorer
It's a sad day when you start telling workers that they can't get a raise because cost of living will go up, when cost of living has been going up around them every day. It's a scare tactic
Well there are a couple of simple answers if they want more money.
1) Work more by getting another job
2) Get a better paying job
Both are really, really simple compared to trying to force the government to raise wages and neither one of those will hurt the middle class like raising the minimum wage to a ridiculous $15/hour for high school dropout jobs.