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MarketWatch reports that in the UK, discounter Aldi says it is raising the minimum wage for all its employees beyond the national minimum wage hike being imposed by the government.

The retailer said that its UK employees will have a wage floor of $12.96 per hour as of next year, with London employees going to a minimum of $14.50 an hour.

The British government has said it wants to raise wages to the equivalent of $13.82 - by 2020.

MarketWatch notes that "In September, both Lidl and Morrisons said they would raise hourly wages in excess of the national living wage.


• The New York Post reports that "Kellogg Co. is in late-stage talks with snack maker Diamond Foods about acquiring the $1 billion company ... A price would be more than $1.5 billion. The story notes that "Diamond, whose stable of brands includes Kettle potato chips, Emerald nuts and Pop Secret popcorn, put itself on the block earlier this year and last week asked for final bids."

Kellogg and Diamond are not commenting on the reports.


• The Wall Street Journal reports that "Lord & Taylor, one of the nation’s oldest department stores, plans to start an off-price chain for its namesake brand, the latest entrant into what is already a crowded space.  Macy’s Inc. recently launched its own off-price stores, called Macy’s Backstage, and  Nordstrom Inc.,  Saks and Neiman Marcus Group are rushing to expand their off-price formats.

"The first Find @ Lord & Taylor store, as the new chain will be called, is expected to open on Nov. 19 in Paramus, N.J., in a 30,000 square-foot space that once housed a Loehmann’s. As many as six additional stores are scheduled to open next year."


• The Los Angeles Times reports that "Target Corp. is opening two smaller-format stores in Los Angeles, part of an expansion in urban markets across the country ... By year's end, Target plans to have opened nine urban-focused stores, compared with six traditional, big box locations."

The story notes that "Target's urban-oriented locations were previously known as CityTarget and TargetExpress, but the company is in the process of rebranding those locations as simply Target."


• The Chicago Business Journal reports that Mariano's Fresh Market is opening its largest city store yet today, an 83,000 square foot, two-story unit that "anchors a massive Lincoln Park neighborhood project at the intersection of Clybourn Avenue and Halsted Street. The NewCity development is nearly 1 million square feet in total, with roughly 370,000 square feet of retail space, 199 residential rental units, 20,000 square feet of medical office space, a 1,000-car parking garage and a 1-acre landscaped plaza."

The store is Roundy's-owned Mariano's 34th store.
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