Business

Gap raising minimum wage for its US employees

NEW YORK — Clothing retailer Gap said it will raise the minimum hourly wage for its US employees to $10 in 2015.

The San Francisco company said the minimum wage for workers at all of its brands will be raised to $9 an hour in 2014 and $10 an hour in 2015. Gap said the increases will affect about 65,000 store employees.

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Gap Inc.’s stores include Gap, Banana Republic, and Old Navy.

In January, President Obama called on Congress to raise the federal minimum wage to $10.10 an hour from $7.25 and also called on employers to raise their employees’ wages. Obama also said he will increase the minimum wage for workers covered by new federal contracts to $10.10 an hour.

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Gap shares fell 4 cents to $42.19 on Wednesday.

Associated Press

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