Wal-Mart Has Faith Its Higher Wages Will Pay Off

They just haven't yet.

The search for happiness.

Photographer: Chris Hondros/Getty Images

Wal-Mart Chief Executive Officer Doug McMillon keeps a copy of an April 1996 Fortune magazine article in his office. It’s headlined “Can Wal-Mart Get Back the Magic?” As McMillon put it in the prerecorded quarterly earnings discussion that the company released this morning:

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