Retail Roundup—CVS ups hourly pay; Walmart beats Amazon on pricing

CVS pharmacy
CVS is the latest retailer to announce a minimum wage pay increase for workers. (Mike Mozart/CC BY 2.0)

CVS ups hourly pay

CVS is the latest retailer to announce that it will boost the hourly minimum wage to $11, due in large part to the recent business tax cut. Not only will the raise now match the starting pay for workers at both Walmart and Target, CVS is expanding its benefits for parental leave for four weeks with 100% compensation. (USA Today)

Walmart beats Amazon in pricing competition

In a recent comparison between Amazon and Walmart by LendEDU, the brick-and-mortar chain edged out the e-commerce marketplace in most categories. Based on 50 identical items across five categories, Walmart's in-store prices were 10.4% lower than those of Amazon. (Twice)

Retail expected to grow 4% in 2018

The National Retail Federation's latest economic forecast is projecting between 3.8% and 4.4% growth in retail sales in 2018. Specifically looking at online and nonstore sales, the growth will be even higher, ranging between 10% and 12%. (NRF)

Barnes & Noble appoints new chief merchandising officer

Barnes & Nobles has named Timothy Mantel as the new chief merchandising officer in charge of driving sales and profitability in all areas of the company. Mantel most recently held the same title at GNC, where he helped relaunch the company's business model. (BusinessWire)