TIME Money

This Chart Shows What Walmart’s Pay Raises Mean for the Minimum Wage

Protestors outside of the Watertown Walmart on Black Friday, Nov. 28, 2014 in Watertown, Wis.
Darren Hauck—Getty Images Protestors outside of the Watertown Walmart on Black Friday, Nov. 28, 2014 in Watertown, Wis.

In a move set to reignite the debate over increasing the federal minimum wage, Walmart said Thursday it’s giving half a million of its employees a raise.

Here’s what’s in store for the 500,000 employees who are paid the company’s baseline wages (which are highly contested numbers), according to a statement:

Current and future associates will benefit from this initiative, which ensures that Walmart hourly associates earn at least $1.75 above today’s federal minimum wage, or $9.00 per hour, in April. The following year, by Feb. 1, 2016, current associates will earn at least $10.00 per hour.

What do Walmart’s raises really mean in context of the minimum wage debate?

As the world’s largest retailer, Walmart’s actions will likely provide a boost to those who want to bump up the federal minimum wage from $7.25 per hour to $10. Those efforts have repeatedly been blocked by some lawmakers in Congress, leading many states to pass their own laws establishing minimum wages above the federal level.

But supporters of a higher federal minimum wage have also called for the rate to be tied to inflation. Why? As inflation increases, the same amount of money buys less stuff — so that $7.25 could feel more like $6.50 or $5.75.

Take a look at the chart above: The federal minimum wage, shown in blue, has been increasing since 1938. But the purchasing power of that wage, shown in orange, has mostly been falling since 1968.

You might notice a slight uptick in the minimum wage’s purchasing power in recent years. That’s because inflation rates were unusually low in the wake of the Great Recession. But as the economy continues returning to normal, expect the minimum wage to lose purchasing power once again.

To bring it back to Walmart: The company isn’t going so far as to tie its baseline wages to inflation. And while any pay raise is certainly better for workers than no raise at all, it’s important to remember that inflation’s impact means raises aren’t always as big as they seem at first.

TIME Careers & Workplace

Why You’re Probably Going to Get a Raise This Year

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Elizabeth Renstrom for TIME

When companies battle for talent, workers win

Raises are back—finally. A new report says roughly 90% of companies will give raises this year, but workers are going to have to earn those fatter paychecks: More than half of companies responding to PayScales’s annual Compensation Best Practices Report say their main reason for giving raises is to reward performance; only about 20% say the increased cost of living is the main reason they give raises.

And don’t hold your breath for a windfall. The vast majority of these say raises will be 5% or less.

Still, this is an improvement. In its annual Compensation Best Practices Report, compensation research company PayScale finds that 85% of responding companies gave raises last year and 89% of companies say they’ll give raises this year. The percentage of companies doling out pay increases has crept up for the past few years, after hitting a low of roughly 30% in 2010, and was above 80% last year. In addition, three quarters of responding companies say they’ve adjusted their compensation structure within the past year.

Smaller companies are more likely to dole out raises to keep valuable workers on board — something to keep in mind if you work at one. Small firms also are more likely to have individualized salary ranges for each position.

About two thirds of respondents say they gave cost-of-living raises last year, with this practice most common in the healthcare and social assistance sector — almost three quarters of these companies gave cost-of-living raises. On the flip side, this is the sector least likely to give workers bonuses.

Companies that rely on large labor pools of lower-skilled workers may give cost-of-living pay increases because there’s not as many good ways to measure performance, and the relative competitiveness of the work often doesn’t demand it. “However, even in industries like retail and healthcare which have a lot of minimum wage positions, there are still highly competitive jobs in segments of their workforce,” like management and IT, PayScale vice president of marketing Tim Low explains.

In more competitive sectors, though, talented workers can command even more. Just over three in five companies said they’ll increase pay for jobs that are in high demand. “We see a strong trend towards pay for performance,” Low said. Professional, Scientific and Tech Services, along with Information, Media, and Telecommunications are the two categories — as defined by PayScale — in which companies are most likely to report that over 50 percent of positions are competitive.

“The trend has been emerging for a while, but it’s part of a greater connection between compensation and business outcomes,” Low says. “The current economy in many sectors gives employees more choices now than they had just a few years ago.”

Read next: Wal-Mart Is Giving Half a Million Employees a Raise

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TIME Careers & Workplace

These Are the Terrible Mistakes You’re Making in Your Job Search

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These common pitfalls can sink your hunt

Job seekers are feeling more confident about the economy and about their prospects, and more of them—especially young adults—report that they’re keeping an eye out for new employment opportunities even if they already have a decent job.

In a new survey, recruiting software company Jobvite finds that 45% of job seekers are satisfied with their current job, but open to jumping ship — and half of currently employed people looking for work characterize their current job as a “stepping stone” or “entry level,” a figure which jumps to more than 70% of job-seekers under the age of 30.

Here’s the rub: These people might not have as much success as they imagine if they engage in some of the behaviors Jobvite’s survey highlights.

Today’s job hunters treat the pursuit of career advancement almost the same way as they would buying something on Amazon, says Jobvite CEO Dan Finnigan.

“It’s almost like purchasing a product online, where the one-click shopping experience is now the norm,” he says. This attitude is especially prevalent among job-seekers under 30, he says. “As millennials especially are working longer hours and leading busier lives, they’re not wasting any time missing out on competitive positions… the tech-savviest ones are leveraging mobile to job hunt when the have the time.”

In addition to the nearly half of job-seekers who say they’ve looked for work in bed, 21% who job-hunt during meetings and the nearly 20% who use bathroom breaks to find a job, almost 10% say they’ve searched for work while out at a bar.

Although searching for jobs on a smartphone makes it easier to check out the options and apply for work anytime and anywhere, happy-hour job-hunting isn’t without risks, Finnigan says. “[It] could put you in a position where you’re more prone to making a careless spelling error or forget a detail in your contact information,” he says. “It’s important to devote full attention during this process of the job search,” a task that’s harder after you’ve had a couple of drinks.

Jobvite also finds that the use of social networks to score job leads is rising. Aside from Facebook, Twitter and LinkedIn, more people looking for work are hitting up Pinterest, Instagram and even Snapchat.

Again, while more avenues should mean a faster route to employment, job-seekers could create roadblocks for themselves if they’re not careful. “Any time you’re interacting with a company on social media, being professional, intelligent and careful is essential,” Finnigan says. While most professionals today treat LinkedIn as an extension of their “work self,” it might take a mental transition to think that way about a more freewheeling site like Snapchat.

And the temptation to exaggerate on social media spills over into people’s employment-related postings. Jobvite finds that 31% percent of job seekers inflate their skills on Twitter, and more than a quarter fabricate references on Facebook.

“People have been inflating and overstating their skills on their resumes for years, so it’s not too surprising — but it’s still a bad idea,” Finnigan says. “In today’s information-heavy age, this practice is even more risky,” he points out. With so much of our lives online today, it’s easier for people — such as hiring managers — to ferret out a fib.

TIME Careers & Workplace

How to Disagree With Your Boss and Still Get Ahead

The Boss mug on a desk
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Disagreeing with your boss in the right way can benefit your organization as well as your career

The fear of disagreeing with authority is universal. It exists in life, and certainly in the regimented corporate workplace. While millennials are arguably more willing to express their opinions to a superior, most workers still remain shy – to the detriment of their career progress.

The fact is that it is not only possible to disagree with your boss without endangering your job, but the willingness to do so could put you on the fast track to professional success. What we tend to forget is that most managers benefit from having their employees provide constructive feedback and contribute original ideas. It can help the managers do their own job more effectively and easily.

The key lies in why and how that disagreement is communicated. Here are 5 tips that can help you navigate those waters successfully:

  1. Make sure you are disagreeing for the right reason. Too often, we disagree to compensate for our own lack of authority, without a good reason or an end goal in mind. That’s a serious mistake since it can compromise your professional credibility with your boss. It’s also just annoying. Disagreements that have a valid context and add real value, on the other hand, can be a big plus.
  2. Disagreeing is not about arguing but making an argument. Anyone who argues routinely with their boss is likely to be eventually fired. But a worker who frames her disagreement as a logical and thoughtful argument in favor of a better approach to a situation or a new idea will be heard gladly, and win serious points with the boss. Avoid attacking other people’s views or complaining and focus instead on making your own constructive points.
  3. Do your homework. Nothing irks a manager more than a worker who insists on sharing his opinion but hasn’t done the research to support and stress test his argument. It shows intellectual laziness on the part of the worker and fails to provide the manager with the tools to evaluate the input. Think about it. If you don’t do your homework, you are effectively forcing your boss to do it for you. Could that ever be a good idea?
  4. Be passionate but not emotional. Arguments are more convincing when they are delivered with passion. The listener needs to feel that you genuinely care about your suggestions, believe in your perspective, and are willing to take ownership of it. But that doesn’t need to involve an excess of emotion, which can make you look hysterical and your boss feel pressured. A clear, confident, and calm presentation will have the best impact.
  5. Speak in the same language as your boss. Some people are extremely data-driven whereas others are more intuitive. Knowing your boss’ personality will help you relate better and communicate your argument more effectively. Put yourself in your boss’ shoes. If you think in numbers, then a numerical argument might persuade you of a different viewpoint whereas a purely gut-based presentation will meet with instant skepticism.

To summarize, don’t be afraid to disagree with your boss. Alternative views and good ideas can benefit your organization as well as your own career. Just follow these guidelines to do it the right way.

Sanjay Sanghoee is a business commentator. He has worked at investment banks Lazard Freres and Dresdner Kleinwort Wasserstein, at hedge fund Ramius Capital, and has an MBA from Columbia Business School.

TIME Fast Food

People in These Cities Can Now Order Burger King Online

A Burger King Whopper hamburger is arranged with french fries for a photograph in Tiskilwa, Illinois, U.S., on Wednesday, Feb. 13, 2013.
Daniel Acker/Bloomberg/Getty Images

Uber, but for ordering a Whopper without putting pants on

The lifelong dream of ordering, receiving and consuming a Whopper without putting on pants can now become a reality for residents of the United Kingdom.

Burger King is expanding its online delivery service to select U.K. locations in the cities of Northampton, Romford, Truro, Hornchurch, Gants Hill, Hull, Skegness and Hayes. Lucky fast food fans in those places can order off a full-featured online menu that even features some delivery-specific deals.

Burger King first began experimenting with online ordering and deliveries in 2012 in Washington, D.C. and has since expanded to other U.S. locations such as New York.


TIME Careers & Workplace

3 Ways to Achieve Your Biggest Goals

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Use these effective and integrated tips to track progress and achieve your goals

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This post is in partnership with The Muse. The article below was originally published on The Muse.

This year, instead of just setting goals, I resolved to meet more of them, and I eagerly went on a quest to narrow down the best tips.

Achieving your goals isn’t an exact science. However, there are certain tricks that can greatly increase your likelihood of success. The three tricks I’ve discovered—focusing on keystone habits, pinpointing deeper motivation for change, and using technology to analyze and celebrate progress—can help you transform vague career and personal resolutions into actionable habits. Here’s how.

1. Set Keystone Habits

The first mistake people make, especially at the beginning of the year, is trying to achieve too many goals all at once. The second mistake is expecting immediate progress. It’s pretty unrealistic to think you’ll start eating better, working out, and getting eight hours of sleep—overnight!

A better approach is to identify and build keystone habits, an idea outlined in Charles Duhigg’s book The Power of Habit. As an article on A Life of Productivity explains, Keystone habits, “create a chain reaction; changing and rearranging your other habits as you integrate the habit into your life.” They have three characteristics: They “give you numerous small senses of victory,” “serve as the soil from which other habits grow,” and “give you energy and confidence to do more.”

If you want to be healthier, for example, one good keystone habit might be waking up earlier. It’s a pretty easy change, so you’ll start each day with a small victory. Also, with more time for yourself each morning, you’re more likely to reach your other goals—like cooking a healthy breakfast or getting to the gym. Finally, this change is energizing, because it will empower you to make better choices in other areas of work and play.

Looking for a new keystone habit? I highly recommend beginning and ending each day with meditation. Whether you’d like to run a marathon or get a promotion—meditation carves a focused time each day to mentally prepare for your morning run or engage in elevated thinking about your work.

2. Discover Your True Motivation

Napoleon Hill, author of Think And Grow Rich, writes that, “the starting point of all achievement is desire. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.” Behind every goal lies a deeper reason that is motivating your desire for change or achievement. Whether your goal is financial freedom or moving to the C-suite, knowing the deeper reason is vital to reaching your desired result.

Unfortunately, these greater reasons for career or personal change often get lost amid the daily noise of emails, events, and immediate deliverables. Without them, it’s easy to become discouraged. Even if you’re steadily maintaining your new habits, what will happen you face challenges or a plateau?

Say you’re looking to change fields, and you’ve diligently set aside time every Sunday for job-hunting. But, after a month, you still haven’t secured an interview. Unless you can hold onto the deeper reason why you’re searching for a new job—perhaps you want to do work that you’re passionate about—you may consider giving up.

In The Power of Habit, Duhigg explains that there is a significant chance of relapse (even after you’ve successfully replaced old habits) when you’re under pressure. So, in times of increased stress or challenge, do the following: Create a vision board that includes pictures and words that illustrate exact goals and feelings. Write down specific and detailed reasons for each new goal on a piece of paper, and place it where you can clearly see it each day. Make these visual sources of empowerment immediately accessible, and openly share them with friends, family, or like-minded peers.

3. Use Apps for Accountability

The success of any viable corporation is measured through daily accountability, quantifiable progress, and recognition of smaller—as well as larger—milestones. Likewise, your year-long goals should be broken down into measurable pieces, during which time you hold yourself accountable and celebrate achievements.

There are many user-friendly apps to track progress toward personal and professional goals, using real-time data. For fitness, Seven challenges even the busiest person to do just seven minutes of high-intensity workouts each day for seven months—using no more than a chair, a wall, and your own body weight. This app guides you through the workouts with illustrations, timers, and spoken instructions while tracking your progress on graphs and calendars. Charlie App makes meeting prep painless by syncing with your Google calendar and doing automated research on your new contact. The app combs the internet and sends you a one-pager on your contact’s social profiles, bios, interests, and as well as their tweets and common connections. And Wunderlist lists daily priorities, sets reminders, and categorizes tasks.

At the end of each month, use the aggregate information to study your progression and highlight any areas needing attention. Then, make the journey more meaningful by celebrating growth, small or large. Spotlight mid-year achievements with a special trip or treat. Send thank you gifts or take friends who’ve been there for you out to dinner. Balancing the discipline and professionalism of a business mindset with gratitude and self-love creates a motivating environment for growth.

Every new goal is an opportunity to grow, personally or professionally. Use these effective and integrated tips to track progress and achieve your goals.

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TIME Careers & Workplace

4 Ways to Bounce Back From an Unproductive Day

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While you can't be perfect all the time, these exercises can help you get back on track

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This post is in partnership with The Muse. The article below was originally published on The Muse.

The clock on the bottom right-hand corner of your computer screen says 4 PM—but that can’t be right.

Can it?

Considering your day so far has consisted entirely of chatting with co-workers, half-listening to a conference call, and catching up on the day’s headlines, it just doesn’t seem possible that you could be an hour from the end of the day—with absolutely nothing to show for it.

Ideally, this doesn’t happen often—but the occasional inexplicably unproductive day does happen. (To everyone. Seriously.)

Now, with a to-do list twice the size it was this morning and a boss not-so-patiently waiting for deliverables, one thing’s for sure: You can’t have a repeat of this tomorrow. So what can you do to ensure you bounce back from an unproductive day? Try these tips.

1. Get Something Done Today

If you leave unfinished tasks on your to-do list, there’s a good chance they’re going to hang over your head and cause anxiety until you return to your desk tomorrow—it’s called the Zeigarnik effect.

There’s no way you’re going to finish everything on your to-do list, even if you stayed all night. But, being able to cross even just one task off your list can give you a peace of mind and a taste of encouragement that you’ll need tomorrow to push through the rest of your unfinished work.

So take a look at your list, and pick something that can be completed in a reasonable amount of time. Hunker down and commit to finishing that one task before you leave. It may be a small step, but it’s a step toward a more productive tomorrow.

2. Take a Break, Then Strategize

When you leave for the day, take your laptop (or, if you don’t have a portable work computer, your to-do list) with you. No, you don’t need to work all night from home. You should absolutely leave the office, take a break, eat dinner, and relax.

But before you turn in for the night, take a few minutes to plan out your day for tomorrow. Figure out what your priorities are, what you need to tackle first, what you can delegate, and what, if anything, can wait for another day. Set goals for yourself throughout the day, so you know exactly what you want to accomplish, and by when.

With a plan already made, you won’t have to waste any time in the morning figuring out how to make the day a productive one.

3. Figure Out How to Get in Your Productive Zone

When you’re back in the office the next day, it’s time to get serious. You have a lot of work ahead of you—essentially, two days’ worth of tasks to be completed in a normal workday (or at least, as soon as possible).

But after a ridiculously unproductive day yesterday, how can you switch gears? According to Erin Greenawald, the answer is beast mode. “It’s when you’re in the zone, nose to the grindstone, with no question about whether you’ll go check Facebook for just a second (the answer is no). It’s when nobody dares to come up and bother you because they can sense your hyper focus and determination.”

How you get into beast mode, however, is different for everyone—but could involve music, working near a hardworking peer, or creating a deadline for yourself.

Doesn’t sound like your thing—or don’t want to spend valuable time figuring out what works for you? Try a classic, proven productivity strategy like the Pomodoro technique. Whatever you do, figure out how you can get the most quality work done within the day.

4. Going Forward, Find a Better Way to Manage Your Time

If this doesn’t happen to you often, don’t sweat it. With a little extra effort, you can easily recover from an unproductive day.

But if you find that you’re wondering where the day went, day after day, you might want to take a closer look at how you’re spending your time. Consider creating a time budget and auditing where your extra time goes, or for the more visual types, try filling in a personalized wheel of productivity.

With one of these simple exercises, you may be able to pinpoint exactly where you can focus to get back on track to 100% (OK, maybe 95%—we can’t be perfect all the time) productivity.

More from The Muse:

TIME Careers & Workplace

9 Myths About Confidence That Are Holding You Back

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Contrary to popular belief, you don't have to be an extrovert to be confident

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This post is in partnership with The Muse. The article below was originally published on The Muse.

Have you ever met somebody, either in a social or professional situation, and been amazed at how much confidence that person projected? Did you then walk away from that encounter and tell yourself, “he was probably born confident,” or “she’s obviously an extrovert, so of course she’s confident,” to find a rational reason for this person’s perceived social advantage?

Confidence is something that everyone strives for at work and in life. Yet, as much as it’s something many of us endeavor to get, there are also a lot of misconceptions or myths surrounding confidence. And if you start to believe these myths, you can feel that confidence is unattainable, or just not for you.

Today, I want to take you through nine of these confidence myths to overturn them once and for all. It’s time to step over these misconceptions and allow yourself to feel confident inside so you can move forward and achieve the goals you’ve set for your life.

Myth #1: You Need to Be Born Confident

Absolutely not! Nobody is born confident. Confidence is something you develop as you go through life and as you put yourself in new situations or new environments. When you see others who ooze confidence, they weren’t born that way. They acquired their confidence by confronting challenging situations, pushing their boundaries, and doing things they thought they’d never be able to do—all things you can do to grow your confidence as well.

Myth #2: You Can’t Fake Confidence

Wrong. Just ask Amy Cuddy and her colleagues from Harvard University and Columbia University, who studied the impact of using specific poses on your own feelings of power. In summary, they found when you adopt high-power poses for two minutes, it increases your level of testosterone, decreases your level of cortisol, and makes you feel more powerful and less stressed. Basically, you can make yourself feel confident by simply changing your body language! For more, check out Ashley Cobert’s advice on how you can fake more confidence in meetings.

Myth #3: You Have to Be Successful to Be Confident

No way! In fact, this works the other way around; you have to be confident before you reach success. Otherwise, you’ll never believe that you can achieve it. Confidence is something you have to tap into and find at the beginning of your journey toward success. Even if all you can tap into is a small amount of confidence, that’s okay. As you move closer toward your goals, that inner confidence will naturally grow stronger and stronger.

Myth #4: You Have to Be an Extrovert to Be Confident

Wrong. Being an extrovert doesn’t always mean you’re confident. You can be an unsure extrovert, just as you can be a confident introvert. Most people believe you have to be an extrovert to be confident because we often associate being an extrovert with being the center of attention or life of the party. But confidence isn’t all about being the most talkative person in the room. It’s about feeling comfortable in your own skin and being happy with the achievements you’ve made in your life.

Myth #5: Confident People Have No Insecurities

Untrue. Insecurities are a part of everyday life. Whenever we’re faced with the unknown, it’s human nature to feel a little insecure. Just because you might have self-doubt or feel unsure when you’re changing jobs or moving to a new city, it doesn’t mean that you’re not confident. The key is to keep moving forward anyway.

Myth #6: Confident People Are Confident all the Time

Absolutely not! There can be periods of your life when you’re full of confidence and you feel you can take on the world. Then, there’ll be other times when uncertainty and self-doubt kick in. When I left Australia the last time to move to France, I went from feeling confident and “at home” to being uncertain almost all of the time. What I discovered is that confidence doesn’t hang around 100% of the time. It varies throughout life. And when you start to feel a little less confident, that’s when you really know you’re pushing the barriers of your comfort zone—and setting the stage to grow your confidence down the road.

Myth #7: Confidence Means You Like Public Speaking

Wrong. Barbra Streisand, who is known to suffer from stage fright, is a perfect example of this. Yet, she gets up on stage and performs with outstanding grace. Confidence doesn’t mean you have to like public speaking. But it does mean that you can find the faith to get up on that stage anyway. Why? Because you’ve practiced enough times to make yourself confident.

Myth #8: Confident People are Arrogant

Untrue. You can absolutely project confidence and authority without coming off as arrogant. This myth usually arises because people think they have to boast about their life to appear more confident to others. But in reality, it’s when you put yourself and your life aside and focus on the other person instead that you project the most confidence. Confident people don’t have to be the focus of the room. They’re happy and proud of their life achievements, so they don’t need reassurance from others.

Myth #9: You Have to Take Big Risks to Be Confident

Wrong. It’s not the size of the risk that’s important. What’s important is whether you’re pushing the barriers of your own comfort zone and doing things that are new for you. If you don’t often push your comfort zone, then a simple change, such as talking to the barista at your local coffee shop, will probably be a big enough risk for you to feel more confident. Then as you get more comfortable with smaller changes, you can move on to riskier ones.

More from The Muse:

TIME Retail

Walmart Is Giving Half-a-Million Employees a Raise

The pay hike comes after a strong holiday season for the retail giant

Wal-Mart is celebrating a surprisingly strong U.S. holiday season by spreading the wealth a bit.

The world’s largest retailer and the nation’s largest private employer is increasing hourly wages for its current U.S. store associates to more than $9 per hour or higher beginning in April. That increase is at least $1.75 above the federally mandated minimum wage. The decision will impact thousands of full and part-time U.S. employees.

Here are some other key points from Wal-Mart’s latest earnings report.

What you need to know: Wal-Mart, often maligned by labor advocates that have long argued the retailer can pay its employees more, is seemingly heeding that call. Even Fortune’s Stephen Gandel has argued Wal-Mart could afford to pay its employees up to 50% more without disappointing Wall Street.

Wal-Mart isn’t aiming as high as Gandel suggested, but it is certainly making a notable move with the increase. Wal-Mart said by February of next year, all current U.S. associates would make $10 an hour or more. The company is also piloting a training program to help employees move out of entry-level positions and potentially make $15 an hour and more with increased responsibilities. Wal-Mart employees about 500,000 full-time and part-time associates at its’ U.S. Wal-Mart and Sam’s Club stores.

The pay hike comes as Wal-Mart reported a strong 1.7% increase in U.S. same-store sales, a key metric for retailers. That was better than the 0.7% jump that analysts had anticipated, according to a poll conducted by Consensus Metrix.

“Our fourth quarter was the first positive traffic comp we’ve had since the third quarter of fiscal year 2013,” said Greg Foran, Wal-Mart U.S. president and CEO. Wal-Mart booted traffic during the critical six-week holiday season, resulting in strong sales of toys, home, seasonal and apparel goods. Wal-Mart completed almost 1 billion total transactions during the holiday season, including a particularly strong Cyber Monday.

The big number: Wal-Mart’s overall total revenue climbed 1.4% to $131.57 billion for the fiscal quarter ended January 31. That wasn’t as strong as the $132.28 billion projected by analysts surveyed by Bloomberg. Wal-Mart’s top line results have frequently missed Wall Street’s expectations the past few years. Per-share adjusted earnings, meanwhile, totaled $1.61 versus the $1.54 predicted by analysts.

What you might have missed: While Wal-Mart ended the year on a high note, President and CEO Doug McMillion said “we’re not satisfied.” He and the leadership team says they want to continue to improve the customer experience, in part by better integrating physical stores with the company’s e-commerce and mobile commerce business.

“We have work to do to grow the business,” McMillion said. “We know what customers want from a shopping experience, and we’re investing strategically to exceed their expectations.”

Because of the higher wages and investments in training and e-commerce, Wal-Mart expects current-year operating profit to be pressured. Wal-Mart is spending about 20 cents per share for the full year on the higher wages and associate training and educational programs. As a result, Wal-Mart sees 2016 fiscal-year profit between $4.70 to $5.05 per share with sales expected to rise between 1% to 2%, hurt by some pressure from the stronger U.S. dollar.

This article originally appeared on Fortune.com.

TIME food and drink

Campbell Soup CEO Says Distrust of ‘Big Food’ a Growing Problem

Cans of Campbell's brand Chunky soups are seen at the Safeway store in Wheaton Maryland
Gary Cameron—Reuters Cans of Campbell's brand Chunky soups are seen at the Safeway store in Wheaton, Maryland Feb. 13, 2015

Campbell Soup CEO Denise Morrison said consumers don’t trust big food makers, and the company announced a $200 million a year cost-cutting program to help its sagging profit margins

Campbell Soup CEO Denise Morrison pointed to the growing skepticism of large food makers that has resulted from consumers’ changing tastes as a key challenge for her industry.

The company, whose portfolio of products ranges from V8 juice to Pepperidge Farm cake to its namesake soups, has found itself grappling with big changes in consumer behavior, in particular growing interest in fresh food and consumers much more keen to know what impact what they’re eating is having on their health and where it’s from.

On top of that has been a “mounting distrust of so-called Big Food, the large food companies and legacy brands on which millions of consumers have relied on for so long,” Campbell CEO Denise Morrison said on Wednesday at the Consumer Analyst Group of New York meeting in New York.

“Like other companies in our industry, we’re contending with now not just the long-term impact of the Great Recession on consumer purchasing behavior, or the increasingly complex public dialog when it comes to food, or the regulatory environment for food.” What’s more, the traditional avenue for selling Campbell’s products—grocery stores—are coming under a lot of pressure from alternative retailers she said.

Campbell recently lowered its full-year results forecast after only one quarter, suggesting it doesn’t expect much relief in the pressure on its profit margins anytime soon. In January, Campbell said it would re-organize its divisions according to product category, rather than by geographic region. It plans to eliminate some management layers as well. Campbell estimates its cost-cutting measures will save it $200 million a year.

Campbell is by no means the only food maker struggling to adapt to new consumer behavior. Last week, cereal maker Kellogg cut its long-term annual revenue growth estimate to a range of 1% to 3%, excluding some items, from an earlier forecast of 3% to 4%, citing poor cereal and snacks sales.

Morrison’s comments about adapting to changing consumer attitudes echoed those of a major competitor. “I don’t think Kraft has done as aggressive of a job in this regard as we need to,” said John Cahill, who in December became CEO of Kraft Foods, last week. He noted that Kraft has lost market share in 40% of its U.S. businesses in 2014. Also last week, ConAgra, the maker of Chef Boyardee, announced it was naming a new CEO—the ex chief at Hillshire Brands, Sean Connolly—and lowered its earnings guidance for the year ending in May.

All this turmoil is enough to give any food executive indigestion.

The article originally appeared on Fortune.com

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