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Giant and Martin’s Food Stores to raise wages
Carlisle, Pa. -- Giant Food Stores and Martin’s Food Markets said they will begin paying all non-union workers a minimum of $9 a hour beginning in June.
The operator of 200 stores in Pennsylvania, Maryland, Virginia and West Virginia said the move was part of the company’s commitment to provide competitive wages.
"Our associates are the foundation of our success, and we have always believed in paying competitive wages to attract the best talent," said Tom Lenkevich, Giant/Martin’s president.
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The re-fragmentation of retail
The nature of competition in the retail industry is not what it used to be. Decades of consolidation concentrated sales among a top tier of mega-retailers fueled deal-making among product manufacturers and others who serve the retail industry.
The top 10 U.S. retailers now account for more than $1,200,000,000,000 (zeroes added for effect) and that figure swells to $1.5 trillion if the next 10 largest are include. The big have gotten bigger and will continue to do so in the near term, however there is also a dramatic “re-fragmentation” of the retail industry underway.
