The Target minimum wage increase will start this spring with employees that are now working at the company.
Although last fall's increase did not affect Washington workers because the minimum wage was already $11, the new raise will.
"2017 was a year of significant progress", Cornell said. "That means blending the best of our physical and digital assets to create new experiences for our guests and reimagining our network of stores into hubs for commerce and community".
The California state minimum wage is $11 an hour but the minimum wage is now $13 an hour in the city of San Jose and varies in other locales in the Bay Area.
The campaign for a $15 minimum wage has been divisive. The number of applicants was up by 60% after increasing minimum wage by $2. A starting wage of $12 is higher than the state-level minimum wage in all 50 states. The minimum wage increase would raise employment by 0.1%, equal to about 13,000 jobs, by 2023, according to the group's study.
Shares of Target Corp., which had fallen close to 5 percent before the opening bell, were down more than 3 percent in late morning trading, to $72.84.
Target earned $1.1 billion, or $2.02 per share, in the fourth quarter, compared with $817 million, or $1.45 per share, a year earlier.
It's also testing store-curb pickup for online grocery shopping, and Target is expanding next-day delivery for some products nationwide by the end of this year. On the same day, the company said it would lay off thousands of employees.