Gap to raise its minimum wage to $10 by 2015

9:49 PM, Feb 19, 2014   |    comments
(AP file)
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(WXIA) -- Popular clothing retailer Gap announced today that the company's six retail brands, including Banana Republic and Old Navy, would raise minimum wages to $9 per hour in 2014 and to $10 per hour in 2015.

In a release sent to employees and stockholders, Gap Inc. Chairman and CEO Glenn Murphy said the company has a strong set of values linking back to founders Doris and Don Fisher. Murphy said that Don Fisher challenged the company to live up to a promise to do "more than sell clothes."

Murphy says the decision to raise the minimum wage is "not a political issue," but an investment in frontline employees. Earlier this month, President Obama signed an executive order raising the minimum wage for federal contract workers to $10.10 per hour.

The Gap pays the majority of employees more than the federal minimum wage of $7.25 presently, and says that about 65,000 store employees will benefit from the minimum wage hike.

In Georgia, The Gap owns 72 stores under five brand names: Athleta, Intermix, Banana Republic, Old Navy and Gap. The company has one other retail chain which does not have any locations in Georgia -- Piperlime.

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