Retailers eye efficiency gains to offset higher wages

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Retail companies like Target Corp. and Walmart Inc. are paying more for labor than they used to. However, they still don't have much flexibility to raise prices, so improving productivity from workers has become the tactic of choice for boosting profits. That's the takeaway from an Associated Press report on retailers' efforts to offset higher wages, which are growing faster than in other sectors. Minneapolis-based Target (NYSE: TGT) is boosting its base wage to $15 per hour by 2020, and even...

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