Sam's Club announces starting pay increase to compete with Costco

Sam’s Club is hiking its pay for hourly retail workers, a move to attract employees and compete better against its rivals. The club chain, owned by Walmart Inc., said store employees’ starting wages in the US will increase to $16 from $15. The company, which operates about 600 stores, also plans to give bigger raises to workers with longer tenures. The changes go into effect early November and will affect nearly 100,000 employees. Initial pay at Sam’s Club remains below that of its main competitor, Costco Wholesale Corp. Costco, which...