Wal-Mart's two-year initiative to give its employees pay raises has translated into workers having more money to spend in the retailer's stores, Wal-Mart U.S. CEO Greg Foran said Thursday.
"We are seeing an improvement in associates' purchasing in our stores," Foran said on Wal-Mart's media call, following the release of better-than-expected first-quarter results and rosier forward guidance.
"Associates [are] feeling more engaged with wages and training [is] helping," Foran added.