During Walmart's (Bentonville, Arkansas) annual shareholder meeting on Wednesday, CEO Doug McMillon called on Congress to raise the federal minimum wage, Retail Dive reported on Friday.
"$7.25 is too low," McMillon said. "It's time for Congress to put a thoughtful plan in place to increase the minimum wage." Walmart's minimum hourly wage for employees is $11 an hour.
McMillon also said a national increase in the minimum wage should take into account the cost of living and follow a phased approach.