The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Most of Wal-Mart's U.S. employees will get raises as part of the world's largest retailer's previously announced commitment to invest in its workforce.
Wal-Mart, which announced in October that it would invest $2.7 billion in its workforce over two years, said more than 1.2 million U.S. hourly workers will receive pay increases. The company, which has 1.4 million U.S. workers, also will provide basic short-term disability at no cost to full-time hourly workers and allow workers to accrue paid time off as they earn it.
Previously, Wal-Mart raised its base employee wages for 500,000 workers to $9 per hour last April, and is increasing hourly pay to at least $10 an hour, starting next month.
The moves come as the nation's private employer has been under pressure from labor-backed groups.
By Anne D'innocenzio.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.